Up to 7.6% FD rate: Bank of Baroda introduces new short term fixed deposit with higher interest rate

Bank of Baroda has launched a new special short-term deposit product with a new maturity bucket that offers a higher interest rate. These rates are applicable on deposits below Rs 2 crore and effective from January 15, 2024. The bank had previously hiked interest rates in certain tenures on December 29, 2023.

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Bank of Baroda special short-term deposit

The bank has introduced a new tenure dubbed as ‘360D (bob360)’ offering 7.10% and 7.60% interest rate to general citizens and senior citizens respectively.

Callable
Tenors	General / NRO	Senior Citizen*
ROI (%)	7.10	7.60

BOB360 : Features

• MINIMUM DEPOSIT AMOUNT- Rs 1,000/- (and further in multiples of Rs. 1/-) for Callable Deposits. (Non-Callable Deposits Not Applicable)
• MAXIMUM DEPOSIT AMOUNT-Less than Rs. 2.00 Crores
• Sr. Citizen Preferential Rate is applicable only for "Resident Indian Sr. Citizen".
• Tenor of Deposit is 360 Days
• Nomination facility will be available
• Auto-renewal facility will be available

BOB360 : Eligibility Criteria

• An individual in his own name.
• Jointly by more than one individuals.
• In the names of Clubs, associations, Educational Institutions, Partnerships and joint stock companies and any other institutions, which are eligible to open a Term Deposit, account as per Bank rules.

Latest Bank of Baroda FD rates

After revision, the bank offers an interest rate between 4.45% to 7.25% for tenure ranging between 7 days to 10 years for general citizens. The bank offers an interest rate between 4.75% to 7.75% for tenure ranging between 7 days to 10 years for senior citizens.

Tenors	Residents / General Public	Resident Indian Sr. Citizen
7 days to 14 days	4.25	4.75*
15 days to 45 days	4.5	5.00*
46 days to 90 days	5.5	6.00*
91 days to 180 days	5.6	6.10*
181 days to 210 days	5.75	6.25*
211 days to 270 days	6.15	6.65*
271 days & above and less than 1 year	6.25	6.75*
360D (bob360)	7.1	7.60*
1 year	6.85	7.35*
Above 1 year to 400 days	6.85	7.35*
Above 400 days and upto 2 Years	6.85	7.35*
Above 2 Years and upto 3 Years	7.25	7.75*
Above 3 Years and upto 5 Years	6.5	7.15 #
Above 5 Years and upto 10 Years	6.5	7.50***
Above 10 years (MACT/MACAD	6.25	6.75*
Court Order schemes only)
399 Days (Baroda Tiranga Plus Deposit Scheme)	7.15	7.65*
(* incl. additional ROI 0.50%, # incl. additional ROI of 0.50+0.15, *** incl. additional ROI of 0.50%+0.50%)