Bank of Baroda, BoM launch deposit schemes to fund credit demand.
Banking & Finance
BoB said its special scheme dubbed “the bob Monsoon Dhamaka Deposit Scheme” comes with two tenor buckets — offering interest rates of 7.25 per cent per annum for 399 days and 7.15 per cent per annum for 333 days. The scheme opened on Monday and it would be for retail deposits below Rs 3 crore. Senior citizens will earn an additional interest rate of 0.50 per cent for both buckets. Further, Non-Callable Deposits will get 0.15 per cent extra, BoB said.
The deposit scheme is available only for retail deposits and not for corporate or institutional accounts.
Special rates apply to both senior citizens and non-callable deposits, enhancing returns for these categories.
CEO & MD : Debadatta Chand
Headquarters: Alkapuri, Vadodara
____________________________
