Bank Of Baroda recently announced the launch of the Tiranga Plus Deposit Scheme which offers a higher rate of interest of up to 7.50% per annum. 

Regarding this brand new announcement, the executive director of the Bank of Baroda, said, “In a rising interest rate environment, we are pleased to offer a higher interest rate to consumers so that they earn more on their savings. The Baroda Tiranga Plus Deposit Scheme offers higher interest rates and assured returns. On our Non-Callable Deposits, the Bank has also decided to increase the Non-Callable Premium from 0.15% to 0.25% on retail term deposits, providing further benefits to customers.”

The scheme came to effect on 1st November 2022. The Baroda Tiranga Deposits are available in two tenors; on callable deposits, it offers an interest rate of 5.75% p.a for 444 days to the general public and 6.25% p.a for senior citizens. For 555 days the figure becomes 6.00% for the general public and 6.50% for senior citizens. 

On non-callable deposits, for 444 days interest is available for 6.0% to the general public and 6.50% for senior citizens. For 555 days the figure looks at6.25% for the general public and 6.75% for senior citizens. 

Senior Citizens get an additional interest rate of 0.50%. 

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