Bank of Baroda has hiked deposit rates in select maturities by 25-50 basis points with immediate effect, it said in an announcement on the BSE.
The interest rate on deposits of less than crore having maturity of one year to three years has been hiked to 9.25 per cent (9 per cent) and on deposits having maturity of above three years to five years it has been hiked 9 per cent (8.5 per cent).
On tax saving schemes for five years the rate has been increased to 9 per cent (8.5 per cent).
The bank had last hiked deposit rates on August 1, 2011.