BoB slashes interest rates on NRE term deposits

Public sector lender Bank of Baroda (BoB) today said it has lowered interest rates on non-resident external (NRE) term to 3.75 per cent for one-year or less than two years with immediate effect.

The interest rate on deposits between one year and less than two years would be 3.75 per cent as against the earlier 4.52 per cent, a release from the public sector bank said here.

The interest rates on deposits between two years and less than three years would be 3.19 per cent as against 3.87 per cent earlier, while those for three years and less than four years would be 3.47 per cent against 4.14 per cent.

 

The interest rates on deposits between four years and less than five years would be 3.47 per cent, against 4.14 per cent earlier.

The interest rates on deposits for five years would be 3.47 per cent, while it was 4.14 per cent earlier, the release added.