Bank of Baroda (Bank) has announced the launch of the Baroda Tiranga Plus Deposit Scheme, offering higher interest rates up to 7.50% per annum for 399 days with effect from 1st November 2022, which includes 0.50% per annum for senior citizens and 0.25% for non-callable deposits. The scheme is applicable on retail term deposits below Rs 2 crore.
Bank of Baroda has also increased the premium on Non-Callable Retail Term Deposits from 0.15% per annum to 0.25% per annum. Hence, non-callable deposits will now receive 0.25% per annum extra.
Commenting on the announcement, Ajay K. Khurana, Executive Director of Bank of Baroda, said, “In a rising interest rate environment, we are pleased to offer a higher interest rate to consumers so that they earn more on their savings. The Baroda Tiranga Plus Deposit Scheme offers higher interest rates and assured returns. On our Non-Callable Deposits, the Bank has also decided to increase the Non-Callable Premium from 0.15% to 0.25% on retail term deposits, providing further benefits to customers.”
Also Read: Turn Rs 1 lakh to Rs 1.28 lakh with Bank of Baroda special scheme. Check details
By increasing the Non-Callable Premium from 0.15% per annum to 0.25% per annum, the interest rates on the Bank’s Baroda Advantage Retail Term Deposit Scheme (Non–Callable) have increased by 10 basis points.
IDBI Bank introduces 700 Days Amrit Mahotsav Deposit at 7.50%
IDBI Bank has introduced another variant of its Amrit Mahotsav Deposits with a maximum interest rate of 7.50% for just 700 days as a limited period offer. Besides, the interest rate on 555 days Amrit Mahotsav Deposits is also increased to a maximum of 7.00% from 6.50%.
Unity Small Finance Bank offers Shagun 366
Meanwhile, Unity Small Finance Bank is now offering 8.30% interest to senior citizens on deposits of 366 days. The bank recently introduced a new scheme – Shagun 366, a 1-year, 1-day Fixed deposit. The scheme offers an attractive return of 7.80% per annum whereas senior citizens will earn 8.30% per annum for a 366 days tenure. However, this offer will be available only for deposits booked up to 30th November 2022.
