Bank of Baroda today announced the launch of the bob Monsoon Dhamaka Deposit Scheme, a special term deposit product offering higher interest rates. The bob Monsoon Dhamaka Deposit Scheme is available in two tenor buckets – offering interest rates of 7.25% p.a. for 399 days and 7.15% p.a. for 333 days.
The scheme opens on 15 th July, 2024 and is applicable on retail deposits below Rs 3 crore.
Senior citizens will earn an additional interest rate of 0.50% p.a. – 7.75% p.a. for 399 days and 7.65% p.a.
for 333 days. Further, Non-Callable Deposits will get 0.15% extra (applicable on minimum deposits above
Rs 1 crore to less than Rs 3 crore), a press release said.
The BoB Monsoon Dhamaka Deposit Scheme offers a maximum interest of 7.90% p.a for 399 Days, which
includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.