Bank of Baroda slashes interest rate on savings account by 50 bps

Bank of Baroda interest rate on savings bank balance of up to Rs 50 lakh has been reduced to 3.5 percent from the current annual 4 percent. However, for balance above of Rs 50 lakh, the bank has retained the rate at 4 percent. Bank of Baroda introducing a two tier savings bank interest rate from august 5th 2017