Public sector veteran bank, Bank of Baroda, has brought a fixed deposit (FD) scheme for its customers who will win heart! Even though the Reserve Bank of India (RBI) has reduced the repo rate by 1.00 per cent this year, due to which the interest rates on FD have decreased slightly, but the FD scheme of Bank of Baroda is still amazing. According to the market cap, the country’s second largest government bank is paying interest on its FD from 3.50% to 7.20%.
Bank is paying fine interest on FD
In Bank of Baroda, you can get FD from 7 days to 10 years. This bank offers interest from 3.50% to 4.00% on short duration i.e. 7 to 14 days FD. But the real blast is its 444 days special FD scheme, in which you can get interest ranging from 6.60% to 7.20%. If you get 1 year old FD, then ordinary citizens will get interest from 6.50% to 7.00%. At the same time, interest rates on 2 -year -old FD are even more attractive. General citizens are getting 6.50%, senior citizens 7.00%, and very senior citizens (over 80 years of age) getting interest of 7.10%. That is, something special for every age!
Interest up to ₹ 15,114 will be available at ₹ 1 lakh
Now come on that special scheme, which is drawing everyone’s attention. If you are a general citizen and deposit ₹ 1 lakh in a 2 -year FD in Bank of Baroda, then you will get a total of ₹ 1,13,763 on maturity. This includes interest of ₹ 13,763. But if you are a senior citizen, then this deal becomes even more spectacular. You will get ₹ 1,14,888 for depositing ₹ 1 lakh in 2 -year FD, which will have an interest of ₹ 14,888. And if you are a very senior citizen, that is, more than 80 years of age, then this scheme is icing for you! At a FD of ₹ 1 lakh, you will get ₹ 1,15,114 on maturity, which includes interest of the entire ₹ 15,114.
Why is this scheme so special?
This FD scheme of Bank of Baroda is special because it has brought something for all kinds of investors. Whether you want to invest for a short period or for a long time, this bank has an option of every need. Especially for senior and very senior citizens, more interest rates make it more attractive. Also, it is a government bank, so your money is completely safe. In today’s era, where interest rates are decreasing, this scheme of Bank of Baroda is giving a great opportunity to increase your money.