Bank of Baroda (BoB) has launched 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 opened on July 15, 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). 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.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
