This Govt Bank FD Interest Rate Goes To A New High: Check Latest Rates Here

The Reserve Bank of India earlier this year on June 8 hiked the key repo rate by 50 basis points (bps) to 4.90% in order to control the spiraling inflation. Many leading private and public lenders sought to hike the interest rates on their FDs to make them more attractive for investors. Renowned banks such as Kotak Mahindra Bank, SBI Bank, PNB, etc. also hiked interest rates on deposits as well as on loans after RBI's repo rate hike.

Now the state-owned Bank of Baroda has also increased interest rates on fixed deposits for deposits below Rs 2 crore. The new rates have already become effective beginning July 28, 2022.

Now investors can avail the maximum interest rate of 6.50% for deposits for the tenor of 5 years and up to 10 years. For deposits above 3 years and up to 5 years, customers can fetch now 6.15% interest rate.

Check the latest interest rates below:

For Domestic Term Deposits Below Rs 2.00 Crores - Resident Senior Citizens [Fresh & Renewal] [Callable]:

Tenors	Below Rs 2 Cr. (w.e.f. 28.07.2022)
7 days to 14 days	3.50*
15 days to 45 days	3.50*
46 days to 90 days	4.50*
91 days to 180 days	4.50*
181 days to 270 days	5.15*
271 days & above and less than 1 year	5.15*
1 year	5.80*
Above 1 year to 400 days	5.95*
Above 400 days and upto 2 Years	5.95*
Above 2 Years and upto 3 Years	6.00*
Above 3 Years and upto 5 Years	6.15#
Above 5 Years and upto 10 Years	6.50**
Above 10 years (MACT/MACAD - Court order schemes only)	5.60*
(* incl. additional ROI 0.50%, ** incl. additional ROI of 0.50%+0.50%, # incl. additional ROI of 0.50%+0.15%)
Sr. Citizen Preferential Rate is applicable only for "Resident Indian Sr. Citizen".