Bank of Baroda reduces Bulk Deposit Rates

                                                                                        

Bank of Baroda, one of the largest Public Sector Lender has reduced deposit rates w.e.f. 07.09.2015 by 25 basis points for bulk deposits of Rs.1 crore to Rs 10 crores for period of 181 days to 3 years.

 

This augurs well which would help reduce cost of funds for the lender.

With the above revision, Rates of Interest on Domestic Term Deposits, NRO Deposits & NRE Deposits of all buckets will be as under:

Maturity Range	Existing	Revised
	ROI for deposits Rs.1cr. to Rs.10cr
	(w.e.f 10.08.2015)	(w.e.f 07.09.2015)
181 to 270 Days	7.50%	7.25%
271 Days to less than 1 year	7.50%	7.25%
1 year	7.75%	7.50%
Above 1 year up to 2 years	7.75%	7.50%
Above 2 years up to 3 years	7.75%	7.50%

NRE TERM (RUPEE) DEPOSITS

Maturity Range	Existing	Revised
	ROI for deposits Rs.1cr. to Rs.10cr
	(w.e.f 10.08.2015)	(w.e.f 07.09.2015)
1 year	7.75%	7.50%
Above 1 year up to 2 years	7.75%	7.50%
Above 2 years up to 3 years	7.75%	7.50%