Bank of Baroda Unveils 'bob Flexi Systematic Deposit Plan' for Smart, Flexible Savings.
Banking & Finance
On 25 June 2025, Bank of Baroda introduced its 'bob Flexi Systematic Deposit Plan (SDP)', a modern recurring-deposit scheme that allows monthly investments starting at just ₹500—flexible up to ₹1 lakh—and locks in fixed interest rates on each contribution for the entire tenure.
- Customers can begin with a core instalment of ₹500 and subsequently scale up the monthly deposit up to 10× (in multiples of ₹100), capped at ₹1 lakh per month—ideal for those with fluctuating income or bonus inflows.
- Each monthly contribution locks in a fixed interest rate for the full deposit period, irrespective of when it’s made. Example: a 2-year plan offers 6.50% p.a. for regular customers, 7.00% for senior citizens, and 7.10% for super senior citizens.
- This scheme blends disciplined savings with flexibility and assures higher returns than typical fixed-deposit accounts, without any market risk—making it perfect for goals like education, travel, or emergency funds.
Main Point :- (i) Customers can avail of a loan or overdraft facility up to 95% of the accumulated balance, offering financial flexibility even as they save. Additionally, a nomination facility is available.
(ii) Open to all resident individuals—including minors (above 10 years), and senior or super senior citizens—with a total deposit limit of ₹3 crore. The plan includes nomination, flexible tenures (6 months to 5 years), and no market exposure.
CEO : Shri Debadatta Chand
Headquarters: Alkapuri, Vadodara
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