Rate of Interest on Term Deposits: revised w.e.f. 26.10.2020.
|Tenure||30 days to 90 days||91 days to 180 days||181 days to 12 months||12 months & above to less than 24 months||24 months & above to less than 48 months||48 months & above to less than 60 months|
|Upto 10 mio||5.75||6.25||7.00||7.50||7.75||7.75|
|Above 10 mio upto 50 mio||6.25||6.75||7.25||8.00||8.00||8.00|
|Above 50 mio upto 100 mio||7.00||7.25||7.75||8.25||8.25||8.25|
|Above 100 mio||7.00||7.25||7.75||8.25||8.25||8.25|
Note: – Branch Heads may contact the Head Office for extraordinary business on case to case basis for consideration of Preferential Rate of Interest.
For premature payments/ withdrawals of Kenya Shillings fixed deposits, following guidelines will be applicable;
Period of Deposit
Interest payment, Penal interest etc on premature withdrawal
30 Days to 90 Days
No Interest will be payable, if deposit continues for less than 30 Days.
A penal interest of 3% will be deducted on the rate of interest applicable for the period; the deposit has actually remained with the Bank from the date of deposit (for the period of 30 days & above).
91 Days & above
No Interest will be payable, if deposit continues for less than -30- days.
A penal interest of 3% will be deducted on the rate of interest applicable for the period; the deposit has actually remained with the Bank from the date of deposit (for the period of 60 days & above).
Branches are requested to take a note of the above for strict compliance.
Kenya Shillings – SB accounts à (w.e.f. 02.11.2018)
|Amount in Baroda Savings Account||Rate of Interest per annum|
|Upto 1.00 million (0.00 to 999,999.99) All SB Schemes||1.50%|
|1.00 million & Above (1,000,000.00 to 999,999,999.99) All SB Schemes||2.25%|
|Baroda Toto Savings Account (0.00 to 999,999,999.99)||2.25%|
Kenya Shillings Fixed Deposits w.e.f.: 18.05.2020
|PERIOD OF DEPOSIT|
RATE OF INTEREST
|30 Days||90 Days||5.75|
|91 Days||180 Days||6.25|
|181 Days||Less than 12 Months||7.00|
|12 Months & above||Less than 24 Months||7.50|
|24 Months & above||Less than 36 Months||7.50|
|36 Months & above||Upto 60 Months||7.50|
- The deposits for maturity of more than 12 months can be accepted in multiple of -3- months only.
- Premature Withdrawals~ Kenya Shillings Fixed Deposits:
US Dollars Fixed Deposits: w.e.f. 25.05.2018
|Tenor of Deposit in US$||Rate of Interest|
|30 Days & less than 3 months||2.00% p.a.|
|3 months & above but less than 6 months||2.25% p.a.|
|6 months & above but less than 1 year||2.50% p.a.|
|1 year & above||3.00% p.a.|
- Premature Withdrawals ~ US Dollars Fixed deposits:
Rate of Interest for Great Britain Pounds (GBP): revised w.e.f. 11.04.2018
- Branches are authorized to pay interest at LIBOR only for respective maturity for the customers’ deposits in GBP, w.e.f. 11th April 2018.
- For premature withdrawals of GBP fixed deposits following guidelines will be applicable: