Bank of Baroda: Bank of Baroda (Bob) is one of the leading public sector banks in India and the second-largest government bank in the country. After the Reserve Bank of India (RBI) reduced the repo rate, the Bank of Baroda has also revised its interest rates for savings schemes. However, despite these changes, the bank’s savings schemes continue to offer attractive returns. Particularly, one Fixed Deposit (FD) scheme is a great option to earn a substantial return on your investment.
Bank of Baroda’s FD Scheme
Bank of Baroda’s FD scheme is a great investment option for customers. If you invest ₹2 lakh in this scheme, you will receive a fixed return at maturity. Bank of Baroda’s is offering an interest rate of 7.00% for general citizens for a 2-year FD, and for senior citizens, the rate is 7.50%.
Fixed Return of ₹32,044 on ₹2 Lakh Investment
If you invest ₹2 lakh in Bank of Baroda’s 2-year FD scheme, you will receive a fixed return of ₹32,044 at maturity. This return will be in the form of interest on your investment. If you are a general citizen under 60 years of age, you will receive ₹2,29,776 at maturity, which includes ₹29,776 as interest.
For senior citizens (aged 60 years or above), if they invest ₹2 lakh, they will receive ₹2,32,044 at maturity, which includes ₹32,044 as interest.
Bank of Baroda’s FD Interest Rates
Bank of Baroda offers attractive interest rates on its FD schemes. Below are the key interest rates:
- For 1 to 2-year FD: 7.00% for general citizens and 7.50% for senior citizens.
- For 2 to 3-year FD: 7.25%.
- For 3 to 5-year FD: 7.50%.
Why Choose an FD Scheme?
A Fixed Deposit (FD) is a secure investment option where your money is fully safe. By investing in Bank of Baroda’s FD scheme, you can earn good returns, and it is a liquid investment, meaning you can withdraw it early if needed. The longer the duration of your FD, the higher the interest rate you’ll get. Thus, investing ₹2 lakh in a 2-year FD can provide you with a significant return.
Conclusion
If you want to safely invest your money and earn good returns, Bank of Baroda’s FD scheme could be a great choice. With this, you can earn a fixed return of ₹32,044 on an investment of ₹2 lakh. Whether you are a general citizen or a senior citizen, this scheme offers an attractive investment option for everyone.
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