Bank of Baroda Currently offering FD facility from 7 days to 10 years. The interest on this is from 3.50 percent to 7.35 percent. But the most talked about is the 400 day FD.
How much interest will be earned on 400 days FD?
Bank of Baroda's 400 Day Special FD On top of that you get good interest. The interest rate varies according to age. If your age is up to 59 years, you will get 6.25% interest. If you are a senior citizen ie 60 years or above then you will get 6.75% interest. If you are 80 years or above, who are called super senior citizens, they will get a bumper interest of 6.85%. You can invest up to Rs 3 crore in this scheme. So it is a good option for those who have a large amount of money. Bank of Baroda 400 Days FD:
More benefits for senior citizens
As always, Bank of Baroda cares more about senior citizens. Senior citizens are given 0.50% more interest than common people. And super senior citizens get 0.10% more interest than senior citizens. So this FD is very beneficial for senior citizens.
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When did interest rates change?
Bank of Baroda had changed its FD interest rates in the month of June this year. You must know that all banks decide their interest rates by looking at the repo rate of RBI. When repo rate goes down or down, FD rates also change. So if you are thinking of doing FD, now is the right time. Because there is no telling when the interest rates will decrease.
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Why do FD?
Risk is high in the stock market these days. You cannot tell when money will increase and when it will decrease. But in FD your money stays 100% safe. Since it is a government bank, there is no tension. From above you can also get interest every month or every three months. 400 days is one year and a little more days. This scheme is best for those people who don't want to lock money for long and want good interest. If you want to open this FD, you can visit the nearest Bank of Baroda branch and inquire or you can open FD immediately through mobile banking. For more information visit the bank's website.