The stock market took a significant hit today, with the Sensex plunging by 3,900 points and Nifty falling by 1,400 points.
Despite expectations that gold prices would rise in such a situation, gold prices are also seeing a decline.
Additionally, following the RBI’s reduction in the repo rate, several banks, including Bank of Baroda (BOB), have lowered their fixed deposit (FD) interest rates.
This combination of events has come as a double blow for investors, who are now wondering where to invest their money for the best returns while ensuring safety.
Bank of Baroda Lowers FD Interest Rates
Bank of Baroda has shocked its customers by reducing FD interest rates by 0.20% for certain tenures.
The new rates are effective from today, 7 April 2025, and are applicable to FDs of less than Rs 3 crore. BOB offers FDs for periods ranging from 7 days to 10 years.
Updated FD Rates by Bank of Baroda
Here’s a breakdown of the new FD interest rates at Bank of Baroda:
7 days to 14 days
General: 4.25%
Senior Citizens: 4.75%
15 days to 45 days
General: 4.50%
Senior Citizens: 5%
46 days to 90 days
General: 5.50%
Senior Citizens: 6%
91 days to 180 days
General: 5.60%
Senior Citizens: 6.10%
181 days to 210 days
General: 5.75%
Senior Citizens: 6.25%
211 days to 270 days
General: 6.25%
Senior Citizens: 6.75%
271 days to <1 year
General: 6.50%
Senior Citizens: 7%
1 year
General: 6.85%
Senior Citizens: 7.35%
More than 1 year & <400 days
General: 7%
Senior Citizens: 7.50%
Above 400 days & up to 2 years
General: 7%
Senior Citizens: 7.50%
Above 2 years & up to 3 years
General: 7.15%
Senior Citizens: 7.65%
Above 3 years & up to 5 years
General: 6.80%
Senior Citizens: 7.40%
Above 5 years & up to 10 years
General: 6.50%
Senior Citizens: 7.50%
Above 10 years (Court Order Scheme)
General: 6.25%
Senior Citizens: 6.75%
444 days (Square Drive Deposit Scheme)
General: 7.15%
Senior Citizens: 7.65%
With this FD rate cut, investors who were relying on the steady returns from fixed deposits now face lower interest rates.
This, along with the stock market’s poor performance and the fall in gold prices, has created a challenging situation for many.
