New
rates on fixed deposits after the hike of 1.75 per cent has been
declared by the public sector bank, Bank of Baroda
PunjabNational Bank (PNB) also hiked the rate previously while SBI lowered
the rates as an impact of RBI’s monetary policy review meeting.
Now
BoB would charge rate of 6.25 per cent instead of 4.5 per cent on
term deposits with maturity of 46-90 days. Apart from this, interest
rates for deposits of 1-3 years and 3-10 years will be 9 per cent.
Interest rate of 7.75 per cent instead of 7.50 per cent will be
provided on deposits of 271-365 days.
All
the rates will be effective from now. It’s high time for the
customers to avail the benefits of hiked rates on deposits.
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