Bank of Baroda hikes FD rates day after SBI

Bank of Baroda has increased interest rates on short-term deposits by up to 125 basis points (100bps = 1 percentage point). The move comes a day after the country’s largest lender SBI increased rates on some maturities of fixed deposits by 50bps. BoB will now offer 4.25% on fixed deposits from one week to 14 days as against 3% earlier. On deposits from 15 days to 45 days, the interest rate has been hiked by one percentage point to 4.5%.

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