Money & Banking

Bank of Baroda hikes rates by 50 bps

N. S. Vageesh Chennai | Updated on July 29, 2011 Published on July 29, 2011

Bank of Baroda has decided to increase its deposit rates by 50 basis points in certain maturities and also its base rate and BPLR by 50 bps each with effect from August 1.

After the 0.50 per cent hike, Bank of Baroda's new base rate will be 10.75 per cent and its benchmark prime lending rate will be 15 per cent.

The bank had earlier increased these rates by 0.50 per cent in May 2011.

Bank of Baroda has also hiked its deposit rates across various maturities. Deposits of 7 days up to 90 days will now earn 4.75 per cent (4.25 per cent); deposits of 91 days to 180 days will earn 7 per cent (6.50 per cent).

Published on July 29, 2011
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