Bank of Baroda has launched a new deposit scheme offering interest rates of up to 6 per cent on domestic retail term deposits.
The ‘Baroda Tiranga Deposit Scheme’ marks the 75th Independence Day of India, which is a special term deposit scheme offering higher interest rates, the bank said in a release on Tuesday.
The scheme, to be available till December 31, 2022, has two tenor buckets of 444 days and 555 days, offering interest rates of 5.75 per cent per annum and 6 per cent per annum, respectively.
The scheme was launched on Tuesday and is applicable on retail deposits below Rs 2 crore, the bank said.
Senior citizens will get additional interest rates on their deposits under the scheme.