Bank of Baroda recently introduced a new FD scheme called the Monsoon Dhamaka Deposit Scheme, offering higher interest rates.
Alongside this, the bank has also updated its regular FD offerings, now providing attractive rates for FDs spanning 333 days and 399 days.
BOB’s Monsoon Dhamaka Deposit Scheme
Bank of Baroda’s Monsoon Dhamaka Deposit Scheme offers two options: an annual interest rate of 7.25% for a period of 399 days.
Simultaneously, Bank of Baroda is offering 7.15% interest on fixed deposits of 333 days.
This scheme commenced on July 15, 2024, and applies to retail deposits under Rs 3 crore.
As per the details from Bank of Baroda released on July 15, 2024, senior citizens will receive an additional annual interest rate of 0.50%.
Senior citizens will receive 7.75% annual interest for a 399-day deposit and 7.65% annually.
The BOB Monsoon Dhamaka FD offers a maximum annual interest rate of 7.90% for a 399-day deposit.
BOB’s new FD rates
7 days to 14 days: General public: 4.25%, Senior citizens: 4.75%
15 days to 45 days: General public: 6%, Senior citizens: 6.50%
46 days to 90 days: General public: 5.50%, Senior citizens: 6%
91 days to 180 days: General public: 5.60%, Senior citizens: 6.10%
181 days to 210 days: General public: 5.75%, Senior citizens: 6.25%
211 days to 270 days: General public: 6.15%, Senior citizens: 6.65%
271 days and above and less than 1 year: General public: 6.25%, Senior citizens: 6.75%
333 days (Monsoon Dhamaka Deposit Scheme): General public: 7.15%, Senior citizens: 7.65%
360 days (BOB 360): General public: 7.10%, Senior citizens: 7.60%
1 year: General public: 6.85%, Senior citizens: 7.35%
399 days (Monsoon Dhamaka Deposit Scheme): General public: 7.25%, Senior citizens: 7.75%
More than 1 year and 400 days: General public: 6.85%, Senior citizens: 7.35%
Above 400 days and upto 2 years: General public: 6.85%, Senior citizens: 7.35%
Above 2 years and upto 3 years: General public: 7.15%, Senior citizens: 7.65%
Above 3 years and upto 5 years: General public: 6.50%, Senior citizens: 7.00%
Above 5 years to 10 years: General public: 6.50%, Senior citizens: 7.50%
Above 10 years (Court Order Scheme): General public: 6.25%, Senior citizens: 6.75%
