Bank of Baroda Unveils 'BoB Square Drive Deposit Scheme' Offering 7.15% Interest for 444 Days.
Banking & Finance
In April 2025, Vadodara (Gujarat)-based Indian Public Sector Bank (PSB), Bank of Baroda (BoB) launched a new Fixed Deposit (FD) scheme titled 'BoB Square Drive Deposit Scheme', a term deposit with a tenor of 444 days.
- As per BoB, the revised FD interest rates, along with the launch of this new scheme, came into effect on April 07, 2025.
- The bank also discontinued its earlier 'BoB Utsav Deposit Scheme', which was introduced in October 2024 and had offered a maximum interest rate of 7.90% for super senior citizens. The revision aims to align BoB’s FD offerings with recent market trends.
Main Point :- (i) The newly launched 'BoB Square Drive Deposit Scheme' is available only under retail term deposit options and applies to deposits below ₹3 crore, offering an interest rate of 7.15% per annum for general citizens.
(ii) For senior citizens and super senior citizens (aged 80 years and above), the scheme offers interest rates of 7.65% and 7.75% per annum, respectively.
(iii) These depositors will receive an additional 5 basis points (bps) on non-callable deposits (above ₹1 crore and below ₹3 crore).
About Bank of Baroda (BoB)
MD & CEO : Debadatta Chand
Headquarters: Vadodara, Gujarat
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