Public sector lender, Bank of Baroda has raised interest rates on fixed deposits in the range of 25 to 75 basis points across different maturities.
The new rates have come into effect from January 10,2011. Deposits upto Rs1 crore will earn 6.25% interest for maturities of 91-180 days as against 5.50% earlier. Deposits of 181-270 days will earn the customer interest of 6.25%.
Deposits having tenor of 271 days to 1 year have seen an increased interest of 50 bps amounting to 7.5%.
Maturities of 445 days to 3 years will earn 8.5% interest while those of tenor 3-10 years will attract interest of 8.25%.
The last time BOB had hiked fixed deposit rates was December 10, 2010.