RATE OF INTEREST

    • 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.: 06.08.2018

 

PERIOD OF DEPOSIT

RATE OF INTEREST

% p.a. w.e.f.: 06.08.2018

Minimum

 Maximum

Up to Ksh 10 Million

Above 10 Million and Upto 50 million

50 million Above

30 Days

90 Days

7.00

7.25

7.50

91 Days

180 Days

7.00

7.40

7.75

181 Days

Less than 12 Months

7.15

7.50

8.00

12 Months & above

Less than 24 Months

7.25

7.75

8.25

24 Months & above

Less than 36 Months

7.25

7.75

8.25

36 Months & above

Upto 60 Months

7.25

7.75

8.25

 Note

  • The deposits for maturity of more than 12 months can be accepted in multiple of -3- months only.
  • Premature Withdrawals~ Kenya Shillings Fixed Deposits:

 

S/N

Period of Deposit

Premature withdrawal

Interest payment, Penal interest etc on premature withdrawal

1

30 Days to 90 Days

Allowed

(a) No Interest will be payable, if deposit continues for less than 30 Days.

(b)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).

2

91 Days & above

Allowed

(a)No Interest will be payable, if deposit continues for less than -60- days.

(b)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).

 

  • 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:

 

S/N

Period of Deposit

Premature withdrawal

Interest payment, Penal interest etc on premature withdrawal

1

30 Days to less than 3 months

Allowed

a. No Interest will be payable, if deposit continues for less than 30 Days.

b.A penal interest of 1% 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).

2

3 months & above

Allowed

a.No Interest will be payable, if deposit continues for less than -60- days.

b.A penal interest of 1% 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).

 

 

Rate of Interest for Great Britain Pounds (GBP): revised w.e.f. 06.08.2018

  • Branches are authorized to pay interest for respective maturity for the customers’ deposits in GBP, w.e.f. 06th August 2018
  • For premature withdrawals of GBP fixed deposits following guidelines will be applicable:

Tenor of Deposit in GBP

Rate of Interest

30 Days & less than 3 months

0.30% p.a.

3 months & above but less than 6 months

0.30% p.a.

6 months & above but less than 1 year

0.75% p.a.

1 year & above

1.25% p.a.

 

S/N

Period of Deposit

Premature withdrawal

Interest payment, Penal interest etc on premature withdrawal

1

30 Days to less than 3 months

Allowed

a. No Interest will be payable, if deposit continues for less than 30 Days.

b. A penal interest of 0.10% (10 bps) 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).

2

3 months to 6 months

Allowed

a. No Interest will be payable, if deposit continues for less than -60- days.

b.A penal interest of 0.10% (10 bps) 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).

 3

6 months to 1 year

Allowed

a. No Interest will be payable, if deposit continues for less than -90- days.

b.A penal interest of 0.25% (25 bps) 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 90 days & above).

 4 1 year & above  Allowed  

a. No Interest will be payable, if deposit continues for less than -180- days.

b.A penal interest of 0.50% (50 bps) 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 180 days & above).