Bank of Baroda hikes interest rates on deposits

MUMBAI, Aug 14: Public sector lender Bank of Baroda has hiked interest rates payable on select maturities of domestic termdeposits by up to 1.75 per cent.Now deposits of 46-90 days maturity would have interest rates of 6.25 per cent up from existing 4.50 per cent, BoB said in a filing with BSE.Interest rates for deposits of 271 days to less than a year would fetch interest rate of 7.75 per cent, higher than 7.50 per cent earlier.Besides, customers will get 9 per cent interest rate on deposits of 1-3 year and 3-10 year.The decisions to alter deposits rates have come, after the Reserve Bank, in its first quarterly monetary policy review last month, kept key interest rate unchanged, it added.(UNI)