Even after the cut in repo rate, Bank of Baroda’s FD gives great returns, know full details
Bank of Baroda Interest up to 7.20% in FD
FD Interest – Bank of Baroda is currently offering interest ranging from 3.50% to 7.20% on FDs ranging from 7 days to 10 years. This interest rate is considered better than many other banks in the market.
Interest up to 7.20% in FD
Bank of Baroda is giving interest ranging from 6.50% to 7.10% to general citizens on FDs ranging from 1 year to 3 years. At the same time, the most special FD scheme of the bank is of 444 days, in which 6.60% to 7.20% interest is being given.
Senior citizen customers are being given the benefit of special rates. The bank is giving 0.50% more interest than the normal rate to customers above 60 years of age. At the same time, super senior citizens (80 years or above) are getting 0.60% more interest.
How much return will be received on FD of Rs 2 lakh?
If a common citizen deposits Rs 2 lakh in a 3-year FD in Bank of Baroda, then on maturity he will get a total of Rs 2,42,681. In this, Rs 42,681 will be given as fixed interest.
On the other hand, if a senior citizen makes the same FD, then on maturity he will get Rs 2,46,287, which will include Rs 46,287 as interest. Super senior citizens will get a return of Rs 2,47,015 on this FD, which will have a fixed interest of Rs 47,015.
Why is FD beneficial?
Market experts say that FD remains a safe investment option at present. There is also a guarantee on the amount deposited in government banks like Bank of Baroda. Also, the benefit of additional interest for senior citizens and super senior citizens makes it more attractive.
