The public sector bank Bank of Baroda (Bank) announced the opening of a new retail term deposit program called the “BoB Square Drive Deposit Scheme” on Monday. The program is available for retail term deposits under Rs 3 crore and was launched on April 7, 2025.
The announcement said that the 444-day term deposit plan would provide interest rates of 7.15 percent for the general public, 7.65 percent for senior citizens, 7.75 percent for super senior citizens (those 80 years of age and more), and up to 7.80 percent annually for non-callable accounts.
The “BoB Square Drive Deposit Scheme” provides depositors with an alluring way to lock in higher rates and generate steady, guaranteed returns on their money while interest rates continue to decline, according to Beena Vaheed, Executive Director at Bank of Baroda. In order to provide solutions that satisfy our clients’ varied and changing financial objectives, Bank of Baroda keeps innovating its deposit offers.
Customers may open this fixed deposit via any Bank of Baroda branch as well as the Bank’s digital platforms, including as the bob World app and online banking platform, Vaheed said.
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