Bank of Baroda offers up to 6.25% interest to NRIs under new FCNR(B) scheme

Bank of Baroda has launched the ‘bob Legend FCNR(B) Deposit Scheme’, offering NRIs interest rates of up to 6.25% per annum on US Dollar deposits and competitive rates across other major currencies.

Hyderabad: Bank of Baroda is offering higher interest rates up to 6.25% p.a. to Non-Resident Indians (NRIs) under the ‘bob Legend FCNR(B) Deposit Scheme’.

Under the new ‘bob Legend FCNR(B) Deposit Scheme’, the Bank is offering interest rates of up to 6.25% p.a. on US Dollar (USD) deposits, 4.75% p.a. on British Pound Sterling (GBP) and Australian Dollar (AUD) deposits, 5.15% p.a. on Canadian Dollar (CAD) deposits and 3.75% p.a. on Euro (EUR) deposits.

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Bank of Baroda continues to be the preferred banking partner for the global Indian diaspora through its extensive international footprint, a press release said. NRIs can benefit from the dual advantages of wealth creation and liquidity by availing of the hassle-free overdraft/loan facility against FCNR(B) deposits, providing enhanced financial flexibility while enabling them to maximise their returns.