Public sector lender Bank of Baroda has announced a hike in interest rates of its short term fixed deposits by as much as 25 bps.
As per the rise, interest rates on deposits having tenor of 7 to 14 days; 15 to 45 days; and 46-90 days would be 5% as compared to 4.75% earlier.
Deposits of tenor 91-180 days would have tenor of 7.25% as compared to 7% earlier. Interest would be 7.75% as against 7.60% for deposits having tenor of 181-270 days.
271 days to less than 1 year deposits will have interest of 8% on them.
The highest interest rate is being offered by the bank for its 444 days deposit amounting to 9.35%.
Interest rates for all tenors above 1 year will continue to remain unchanged.