DIMAPUR, JUNE 18 (MExN): Bank of Baroda has launched the 'bob Golden Goal Deposit Scheme', a new retail term deposit scheme offering interest rates of up to 7.40% per annum for a tenure of 555 days.
According to a press release issued by the bank, the scheme offers an interest rate of 6.75% per annum for general customers, 7.25% for resident senior citizens and 7.35% for resident super senior citizens aged 80 years and above. Non-callable deposits under the scheme offer interest rates of up to 7.40% per annum.
The scheme is applicable to retail term deposits below Rs 3 crore and is aimed at providing customers with an investment option backed by assured returns.
Executive Director of Bank of Baroda, Beena Vaheed, said, "In today's evolving interest rate environment, the 'bob Golden Goal Deposit Scheme' offers depositors an attractive opportunity to lock in higher rates. The scheme reflects our continued commitment to offering innovative and value-driven products that help customers achieve their financial goals."
Customers can open a fixed deposit under the scheme through the bank's mobile banking app, internet banking platform or by visiting any Bank of Baroda branch. New-to-bank customers can also open a fixed deposit online through the bank's website without opening a savings account, the release stated.
Bank of Baroda said the scheme is designed to offer an attractive investment avenue for depositors while providing assured returns over the 555-day tenure.
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