At a time when there is talk about falling interest rates, Bank of Baroda has launched a special fixed deposit (FD) scheme offering attractive returns.
Named the ‘BoB Square Drive Deposit Scheme’, this new FD provides a maximum annual interest of 7.80% for senior customers.
This term deposit is for 444 days and became available from April 7, 2025. The scheme offers different interest rates for regular citizens, senior citizens, and super senior citizens.
What is the ‘BoB Square Drive Deposit Scheme’?
This special FD scheme runs for 444 days. The annual interest rates under this scheme are as follows:
7.15% for regular customers
7.65% for senior citizens
7.75% for super senior citizens (those above 80 years old)
Investors can earn even higher interest if they choose the Non-Callable Deposit option. In this case, the annual interest rates are:
7.20% for regular customers
7.70% for senior citizens
7.80% for super senior citizens
Note: Non-callable deposits cannot be withdrawn before maturity. This scheme is available for retail fixed deposits below ₹3 crore.
For non-callable deposits, the minimum amount is ₹1 crore and the maximum is ₹3 crore.
You Can Open This FD Online Too
Existing customers can open this special FD by visiting any Bank of Baroda branch or by using the BoB World app or internet banking.
New customers can also open an FD account through video KYC on the bank’s website, even without opening a savings account.
While launching the scheme, Beena Vaheed, Executive Director of Bank of Baroda, said, “In this time of falling interest rates, the ‘BoB Square Drive Deposit Scheme’ offers customers a great way to earn high, fixed returns.
Bank of Baroda will keep launching new deposit schemes to meet customers’ changing financial needs.”
