Mumbai: Bank of Baroda has raised interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits. The rates are hiked by up to 50 basis points across various tenors of up to 3 years. These rates are applicable on deposits below Rs 2 crore.
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The Bank is offering interest rates of up to 7.40% p.a. for general citizens and up to 7.90% p.a. for senior citizens, which includes 0.50% p.a. of additional interest for senior citizens and 0.15% for non-callable deposits. The Bank has also realigned interest rates on its Tiranga Plus Deposit Scheme for 399 days. Senior Citizens will earn 7.80% p.a. on non-callable deposits under the scheme.
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