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FD Rates Hike: Bank Of Baroda Launches ‘Tiranga Plus Deposit Scheme’, Punjab And Sind Bank Also Increases Rates

Highlights

Bank of Baroda has launched a new fixed deposit scheme, Tiranga Plus Deposit Scheme.
Under the Tiranga Plus Deposit Scheme, customers will get an interest of up to 7.50 percent on FD.
Punjab and Sind Bank has also increased the interest rates on its savings accounts and FDs.

New Delhi. Public Sector Bank of Baroda has today launched Baroda “Tiranga Plus Deposit Scheme”. Under this scheme, Bank of Baroda is offering its customers high interest on Fixed Deposits (Fixed Deposits Rates Hike). This will help the customers marginally, but will definitely help them in fighting the rising inflation. Apart from Bank of Baroda, Punjab and Sind Bank has also increased the interest rates on deposits.

Bank of Baroda is giving an interest rate of 7.50 percent to customers on getting FD for 399 days. The new interest rate will come into effect from 1 November 2022. Bank of Baroda Executive Director Ajay K. Khurana said that in the rising interest rate environment, we are happy to offer higher interest rates to the consumers. He said that the interest rate was increased so that they can earn more return on their savings.

Bank of Baroda will offer higher interest rate to the customers under this scheme. According to the bank, it has been decided to increase the non-callable premium on retail term deposits from 0.15% to 0.25%, providing higher benefits to customers on non-callable deposits.

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What is Tiranga Plus Deposit Scheme
Under the Tiranga Plus Deposit Scheme, Bank of Baroda is offering 6.74 per cent interest on fixed deposits to general customers and 7.25 per cent to senior citizens for 399 days. The Bank has increased the non-callable premium in interest rates on Baroda Advantage Retail Term Deposit Scheme (Non-callable) from 0.15% p.a. to 0.25% p.a. On the other hand, interest rates on Bank’s Baroda Advantage Retail Term Deposit Scheme (Non-callable) have been hiked by 10 basis points as a result of increase in non-callable premium from 0.15% p.a.

This scheme is effective from November 1
According to the official website of the bank, the interest rates of Baroda Tricolor Deposit Scheme are also effective from 1 November 2022. This plan is for two tenures of 444 days and 555 days. The bank is offering an interest rate of 5.75% for general citizens and 6.25% for senior citizens on FDs maturing in 444 days, while 6.00% and 6.50% interest rates are offered to senior citizens on FDs maturing in 555 days. Its being done. Apart from this, an interest rate of 6.25% for FDs maturing in 555 days and 6.75% for senior citizens will be available.

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Punjab & Sind Bank Savings Account Interest Rates
Punjab and Sind Bank is offering an interest rate of 2.80% on deposits up to Rs 1 crore in savings account. At the same time, from Rs 1 crore to Rs 100 crore, it is now paying interest at the rate of 2.90%. Apart from this, the interest rate of 4.50% above 100 crores up to 500 crores, while on the amount above 500 crores, Punjab and Sind Bank is now giving interest at the rate of 5.00%.

New FD Rates of Punjab and Sind Bank
Punjab and Sind Bank will now offer an interest rate of 2.80% on FDs maturing in 7 to 30 days. Similarly, for FDs of 31 to 45 days, 3.0%, for 46 to 90 days, 4.00%, FDs for 91 to 120 days will get interest at the rate of 4.20%. Also, the bank is now offering an interest rate of 5.00% on FDs maturing in 270 to 364 days. At the same time, 6.10% for FDs of 1 to 2 years, 6.25% on FDs up to 3 years and 6.10% for FDs maturing in 3 years to 10 years.

Tags: Bank FD, Bank of Baroda, Bank rates, banking services, Business news in hindi, FD Rates, Fixed deposits, Money Making Tips, online business

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