The Reserve Bank of India has cut the repo rate by 0.25 percent in December.
With this, the total repo rate cut for the year has reached 1.25 percent.
While loan EMIs have become cheaper, fixed deposit returns have come under pressure.
Many banks have already reduced FD interest rates.
However, Bank of Baroda has not announced any FD rate cut yet, giving relief to depositors.
Bank of Baroda FD Interest Rates Explained
Bank of Baroda allows fixed deposits for periods ranging from 7 days to 10 years.
The bank currently offers interest rates between 3.50 percent and 7.20 percent.
For a 444-day FD, the interest rates are:
6.60 percent for general citizens
7.10 percent for senior citizens
7.20 percent for super senior citizens (80 years and above)
For a 3-year FD, the interest rates are:
6.50 percent for general citizens
7.00 percent for senior citizens
7.10 percent for super senior citizens
How Much Will ₹1 Lakh Grow in 3 Years?
If a general citizen invests ₹1 lakh in a 3-year FD, the maturity amount will be ₹1,21,341, earning ₹21,341 as fixed interest.
A senior citizen investing the same amount will receive ₹1,23,144, which includes ₹23,144 in interest.
A super senior citizen will get the highest return. A ₹1 lakh deposit will grow to ₹1,23,508, giving a guaranteed interest of ₹23,508.
Why This FD Option Is Worth Considering
At a time when FD rates are expected to fall further, Bank of Baroda’s unchanged rates offer a good opportunity for investors looking for safe and guaranteed returns.
For those seeking stability and predictable income, especially senior and super senior citizens, this FD scheme stands out as a reliable choice.