New Delhi: Bank of Baroda has announced the launch of a new retail term deposit scheme – the ‘bob Square Drive Deposit Scheme’. The scheme opened on 7th April, 2025 and is applicable on retail term deposits below Rs 3 crore.

The 444-day term deposit scheme offers 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. 

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.

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.”

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