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Bank of Baroda cuts interest rates on bulk FD, know the new rates – ..
News Update | January 2, 2025 11:24 AM CST

Bank of Baroda (BOB) has shocked crores of its customers by cutting the interest rates on bulk fixed deposits (FD) from Rs 3 crore to Rs 10 crore. These changes have come into effect from January 1, 2025. However, this deduction will be applicable only on new bulk FDs. Interest rates on FDs already invested will not be affected.

BOB’s bulk FD interest rates: A look at the new rates

Bank of Baroda offers bulk FD for tenures ranging from 7 days to 10 years. Below are the details of the new interest rates:

Duration interest rates for general public Interest rate for senior citizens
7 days to 14 days 5.00% 5.00%
15 days to 45 days 5.00% 5.00%
46 days to 90 days 5.75% 5.75%
91 days to 180 days 5.75% 5.75%
181 days to 210 days 6.50% 6.50%
211 days to 270 days 6.75% 6.75%
271 days to less than 1 year 6.75% 6.75%
1 year 7.45% 7.45%
More than 1 year to 400 days 6.85% 6.85%
2 years to 3 years 6.50% 6.50%
3 years to 5 years 6.00% 6.00%
5 years to 10 years 5.00% 5.00%

Important information:

  1. No effect on earlier FD:
    These changes will not be applicable to bulk FDs already invested.
  2. Interest rates on new FD:
    New interest rates will be applicable to customers who have made bulk FD after January 1, 2025.
  3. Check Rates:
    Customers can get information about interest rates by visiting the official website of the bank or the nearest branch.

What does deduction on fixed deposits mean?

  1. Impact for investors:
    Due to the cut in interest rates, investors will now get lower returns, especially bulk FD holders.
  2. For Senior Citizens:
    Senior citizens have also faced cuts, although their rates are the same as general investors.
  3. Difference on long term investment:
    The cut in FD rates by up to 5% for tenures of 5 years or more will have a greater impact on customers making long-term investments.

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