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InFocus Banking & Finance

BoB Square Drive Deposit Scheme Available From 7 April 2025

Ms. Beena Vaheed, Executive Director, Bank of Baroda said, “With interest rates trending downwards, the ‘bob Square Drive Deposit Scheme’ offers depositors an attractive option to lock in higher rates and earn stable & assured returns on their savings.

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SMEStreet Edit Desk
09 Apr 2025 15:08 IST

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Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the launch of a new retail term deposit scheme – the ‘bob Square Drive Deposit Scheme’, a 444-day term deposit scheme offering an interest rate of 7.15% p.a. for the general public, 7.65% p.a. for senior citizens, 7.75% p.a. for super senior citizens (aged 80 years & above) and up to 7.80% p.a. on Non-Callable Deposits. The scheme opens on 7th April, 2025 and is applicable on retail term deposits below Rs 3 crore. 

bob Square Drive Deposit Scheme w.e.f. 07.04.2025

 

Callable

Non-Callable

(Deposits above Rs 1 Crore to less than Rs 3 crore)

Tenor

Residents/

General Public/NRO/NRE

Resident Senior Citizens

Resident Super Senior Citizens

Residents/

General Public/NRO/NRE

Resident Senior Citizens

Resident Super Senior Citizens

444 days

7.15% p.a.

7.65% p.a.

(7.15+0.50)

 

7.75% p.a.

(7.15+0.50+0.10)

7.20% p.a.

(7.15+0.05)

7.70% p.a.

(7.20+0.50)

7.80% p.a.

(7.20+0.50+

0.10)

Ms. Beena Vaheed, Executive Director, Bank of Baroda said, “With interest rates trending downwards, the ‘bob Square Drive Deposit Scheme’ offers depositors an attractive option to lock in higher rates and earn stable & assured returns on their savings. Bank of Baroda continues to innovate on its deposit offerings to offer solutions that meet the evolving and diverse financial goals of our customers.”

Customers can open a fixed deposit through the Bank’s digital channels including the bob World app and the Bank’s Internet Banking platform as well as at any Bank of Baroda branch.

Further, New to Bank customers can now open FDs with the Bank from the Bank of Baroda website through Video KYC, without the need to open a Savings Account.

Square Drive Deposit Scheme BoB
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