New Delhi, Aug 17 (PTI) Bank of Baroda has launched a new deposit scheme offering interest rates of up to 6 per cent on domestic retail term deposits.

The 'Baroda Tiranga Deposit Scheme' marks the 75th Independence Day of India, which is a special term deposit scheme offering higher interest rates, the bank said in a release on Tuesday.

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The scheme, to be available till December 31, 2022, has two tenor buckets of 444 days and 555 days, offering interest rates of 5.75 per cent per annum and 6 per cent per annum, respectively.

The scheme was launched on Tuesday and is applicable on retail deposits below Rs 2 crore, the bank said.

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Senior citizens will get additional interest rates on their deposits under the scheme.

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