Good news for the common people of India. The Reserve Bank of India has decided to lower the repo rate by 25 basis points. This change will impact not just loans and EMIs but also fixed deposits (FDs). Following this move, several banks have begun adjusting their FD interest rates.
Also Read
Bank of Baroda, a public sector bank, has updated its interest rates for bulk deposits. The new rates apply to FDs between Rs 3 crore and Rs 10 crore. Keep in mind that interest rates can fluctuate, so it’s a good idea to check the bank’s official website or visit a nearby branch before making any investments.
What kind of returns can customers expect?
The bank is offering interest rates starting at 5% and going up to 7.45% for investments between Rs 3 crore and Rs 5 crore, with tenures ranging from 7 days to 10 years. The best return is available for 1-year FDs, where the bank offers 7.75% for investments between Rs 5 crore and Rs 6 crore. For FDs with a tenure of over 5 years, the interest rate is set at 5% for 10-year deposits.
Interest Rates Based on Tenure (Fixed Deposit)
7 to 14 days – 5%
15 to 45 days – 5%
46 to 90 days – 5.75%
91 to 180 days – 5.75%
181 days to 210 days – 6.50%
211 days to 270 days – 6.75%
271 days to less than 1 year – 6.75%
1 Year – 7.45%
Above 1 year and up to 15 months – 6.85%
Above 15 months and up to 2 years – 6.85%
Above 2 years and up to 3 years – 6.50%
Above 3 years and up to 5 years – 6%
Above 5 years and up to 10 years – 5%.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.