New Delhi: Bank of Baroda has increased interest rates by up to 40 basis points on domestic fixed deposits including NRO and NRE fixed deposits of less than Rs 2 crore.
The new rates will be applicable with immediate effect.
Interest rates on savings deposits of Rs 100 crore and above have also been hiked by 5-10 basis points for those below Rs 200 crore and Rs 500 crore and above.
The upward revision in interest rates comes close to a 50 basis points hike in the repo rate by the RBI in its latest monetary policy review, part of the central bank’s measures to offset rising domestic inflation as well as inflation expectations. was.