Bank of Baroda has raised fixed deposit (FD) rates below Rs 2 crore. The bank has raised its fixed deposit rate by 20 basis points. According to the Bank of Baroda website, the new rates are effective from September 13, 2022.

Bank of Baroda has raised its fixed deposit rate for more than a year. 20 basis points increased the one-year deposit rate to 5.5% from 5.3%. The interest rate was raised from 5.45% to 5.5 years, and the term was raised from 1 year to 2 years. The rate for 2 to 3 years after the hike is 5.55%.

The interest rate for term deposits with a term of more than 3 years to 10 years has risen from 5.5% to 5.65%. Bank of Baroda offers seniors fixed deposit rates from 3.5% to 6.5%.

The Baroda Tiranga Deposit Scheme is a unique term deposit product offered by the Bank of Baroda with a higher interest rate.

The interest rate on the Baroda Tiranga deposit for two terms is 5.75% for 444 days and 6% for 555 days. The new scheme, for retail deposits below Rs 2 crore, is effective from August 16 and is valid until December 31, 2022.