When it comes to investment, an FD (Fixed Deposit) is considered to be the safest and most reliable option. If you also want guaranteed and great returns, then Bank of Baroda has brought a great opportunity for you.
This government bank is offering attractive interest rates on FD. In Bank of Baroda, you can open an FD from 7 days to 10 years and get a fixed profit of up to ₹ 23,508 by depositing ₹ 1 lakh. So let’s know about this scheme in detail.
FD is getting bumper interest of up to 7.20%
Bank of Baroda is giving interest ranging from 3.50% to 7.20% on FDs of different tenures. At present, the highest interest is being given on the bank’s 444-day FD. For this period, the bank is giving interest at the rate of 6.60% to common citizens, 7.10% to senior citizens, and 7.20% to super senior citizens (above 80 years).
At the same time, great returns are also being given on 3-year FD, where 6.50% interest is being given to common citizens, 7.00% to senior citizens, and 7.10% to super senior citizens.
Get a fixed benefit of ₹23,508 by depositing ₹1 lakh
The biggest advantage of investing in an FD is that you get back your principal amount as well as fixed interest after a fixed time. If you deposit ₹ 1 lakh in a 3-year FD of Bank of Baroda, you will get:
Common citizen (below 60 years)
If you deposit ₹ 1 lakh, after 3 years you will get ₹ 1,21,341, which will include ₹ 21,341 interest.
Senior citizen (above 60 years)
On depositing ₹ 1 lakh, you will get ₹ 1,23,144 on maturity, which includes a fixed interest of ₹ 23,144.
Super senior citizen (above 80 years)
If you deposit ₹ 1 lakh, you will get the maximum ₹ 1,23,508 on maturity, which will include a fixed interest of ₹ 23,508. I
nvesting in an FD is not only safe, but it also gives a great opportunity to grow your money. So if you are looking for a risk-free investment, then this FD scheme of Bank of Baroda can be a better option for you.