The scheme will come into effect from July 15 and will offer a higher interest rate on deposits of less than Rs 3 crores. bank of Baroda has launched a new Fixed Deposit (FD)  scheme called  Monsoon Dhamaka Deposit Scheme.  The scheme, which came into effect on July 15, offers a higher interest rate on deposits of less than Rs 3 crores.

This deposit scheme comes in two variants.  For deposits of  399 days, the interest rate is  7.25 percent per annum, and for deposits of  333 days, it is  7.15 percent.

Additional benefits for senior citizens in Monsoon Dhamaka Deposit Scheme
For FDs maturing in 399  days, senior citizens will get an additional  0.50 percent interest rate of  7.75  per annum. bank of Baroda said senior citizens investing a minimum of Rs 1 crore to less than Rs 3  crore in a non-withdrawal scheme before maturity will get an additional  0.15 percent.

The deposit scheme offers an interest rate of  7.90 percent per annum on a maturity of 399 days. This includes 0.50 percent for senior citizens and  0.15 percent for non-callable deposits which cannot be withdrawn before maturity.

Bank of Baroda offers interest rates ranging from  4.25 percent to  7.25 percent on fixed deposits maturing in 7 days to 10  years. They have given the complete details on the official website. In this, you can choose the fixed deposit schemes you need.
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Bank of Baroda

S Venkateshwari

01/08/2024 11:14 AM