Bank of Baroda's Scheme is offering higher interest rates
Sanjay Mudaliar, Executive Director, Bank of Baroda
FinTech BizNews Service
Mumbai, July 15, 2023: Bank of Baroda (Bank), one of India’s leading public sector banks, today
announced the launch of the bob Monsoon Dhamaka Deposit Scheme, a special term deposit product
offering higher interest rates. The bob Monsoon Dhamaka Deposit Scheme is available in two tenor
buckets – offering interest rates of 7.25% p.a. for 399 days and 7.15% p.a. for 333 days. The scheme
opens on 15 th July, 2024 and is applicable on retail deposits below Rs 3 crore.
Senior citizens will earn an additional interest rate of 0.50% p.a. – 7.75% p.a. for 399 days and 7.65% p.a.
for 333 days. Further, Non-Callable Deposits will get 0.15% extra (applicable on minimum deposits above
Rs 1 crore to less than Rs 3 crore).
The bob Monsoon Dhamaka Deposit Scheme offers a maximum interest of 7.90% p.a for 399 Days, which
includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.
Shri Sanjay Mudaliar, Executive Director, Bank of Baroda said, “Bank of Baroda is pleased to announce
the bob Monsoon Dhamaka Deposit Scheme, enabling customers to earn a higher rate of interest on
their savings. It also offers the flexibility to choose from two tenures. This is an opportune time for
people to lock in higher returns on their deposits.”
The bob Monsoon Dhamaka Deposit Scheme can be opened online or through any of the Bank’s
branches.
