Bank of Baroda (Bank), recently announced an increase in interest rates on fixed deposits (FDs), by up to 30 basis points on select tenors. These rates are applicable on deposits below ₹2 crore, with effect from May 12, 2023.
Interest rates have also been hiked on the Baroda Tiranga Plus Deposit Scheme. The 399 Day Baroda Tiranga Plus deposit scheme now offers interest rates up to 7.90% p.a., which includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.
After the latest hike, the Bank of Baroda offers an interest rate ranging from 3% to 7.25% to general customers and 3.5% to 7.75% to elderly people.
SBI fixed deposits interest rates
SBI FDs between 7 days to 10 years will give 3% to 7.1% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. The interest rate offered by India’s largest lender State Bank of India on deposits of one year to less than two years is 6.8 per cent. SBI’s interest rate on deposits of two years to less than three years is 7 per cent. These rates are effective from 15 February 2023.
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HDFC Bank fixed deposits interest rates
With HDFC Bank Fixed Deposit, you can invest your money for a tenure anywhere between 7 days to 10 years and earn interest over the deposited amount. You can earn an interest rate ranging from 3% to 7.1% p.a. Senior citizens enjoy an additional rate of interest of 0.50% p.a. for tenures of 7 days to 5 years -3.5% to 7.6%. These rates are with effect from 21 February.
ICICI Bank fixed deposits interest rates
ICICI Bank offers the Fixed Deposit (FD) scheme with interest rates ranging between 3.00% and 7.10% p.a. Senior citizens are provided an additional interest rate. The tenure of the scheme ranges from 7 days to 10 years. 3.50% and 7.60%. These rates are effective from February 24.