Public sector lender Bank of Baroda has announced a hike in interest rates of fixed deposits across selected maturities. The interst rate hike has been in the range of 25-50 bps.

Deposits having tenor between 1 year to less than 3 years will now have interest of 9.25%.

Interest rate of deposits of maturity between 3 years to 5 years will now be 9%.

The tax saving scheme having tenor of 5 years will now have interest of 9%.

The revised rates have come to immediate effect.