Bank of Baroda, one of the largest public sector banks in India, has introduced the BoB Monsoon Dhamaka Deposit Scheme, a special long-term deposit product with rising interest rates looming.
There are two tenor buckets for the BoB Monsoon Dhamaka Deposit Scheme, with an interest rate of 7.25% p.a. 399 days at 7.15% p.a. It took 333 days. The scheme, which is eligible for retail savings of less than Rs 3 crore, was launched on July 15, 2024. Read below to check the details of this scheme.
BoB Monsoon Dhamaka Deposit Scheme Objective
Bank of Baroda is pleased to announce the Bob Monsoon Dhamaka Deposit Scheme which offers customers higher interest rates on their deposits. Additionally, the option of two terms is offered. People should take advantage of this opportunity to invest more returns on their investments.
Features & Benefits of BoB Monsoon Dhamaka Deposit Scheme 2024
BoB Monsn Dhamaka Deposit Scheme, a unique long-term deposit product with high interest rates has been launched by Bank of Baroda. The surcharge is 0.50% per unit. up to 7.75% per case. 399 days at 7.65% p.a. Senior individuals will be paid for 333 days.
An additional 0.15% will be added to the uncalled deposit (applied to minimum deposits above Rs 1 crore to below Rs 3 crore). The maximum interest rate is 7.90% per share.
Available under this plan for 399 days. Senior individuals pay an additional 0.50% per unit. and non-call reserves can earn 0.15%. Additionally, with effect from July 12, 2024, the bank has changed the minimum cost of capital-based loans (MCLR).
Domestic Term Deposits including NRO Deposits
| Tenors | Resident Indian Sr. Citizen | Residents / General Public |
| 7 days to 14 days | 4.75* | 4.25 |
| 15 days to 45 days | 6.50* | 6 |
| 46 days to 90 days | 6.00* | 5.5 |
| 91 days to 180 days | 6.10* | 5.6 |
| 181 days to 210 days | 6.25* | 5.75 |
| 211 days to 270 days | 6.65* | 6.15 |
| 271 days & above and less than 1 year (except 333Days and 360 Days) | 6.75* | 6.25 |
| 333 Days (bob Monsoon Dhamaka Deposit Scheme) | 7.65* | 7.15 |
| 360 Days (bob360) 7.1 7.60* 1 year | 7.35* | 6.85 |
| 399 Days (bob Monsoon Dhamaka Deposit Scheme) | 7.75* | 7.25 |
| Above 1 year to 400 days | 7.35* | 6.85 |
| Above 400 days and upto 2 Years | 7.35* | 6.85 |
| Above 2 Years and upto 3 Years | 7.65* | 7.15 |
| Above 3 Years and upto 5 Years 6.5 7.15 # Above 5 Years and upto 10 Years | 7.50** | 6.5 |
FaQ
Q. What is the main aim of the BoB Monsoon Dhamaka Deposit Scheme?
Ans. The main objective of the scheme is to provide customers with higher interest rates on deposits
Q. What is the official website of the Bank of Baroda?
Ans. website of Bank of Baroda is https://www.bankofbaroda.in/
brothers, if you are liked given with the information then plz like and share so that other brothers can also be helped
