Bank of Baroda’s 444-Day bob Square Drive Deposit Scheme – How Much Will You Earn On Rs 1 Lakh?

Looking to lock in high returns on your fixed deposit before interest rates drop further? Bank of Baroda has introduced an attractive short-term FD scheme named 'bob Square Drive Deposit Scheme', offering interest rates of up to 7.80 per cent per annum for a special tenure of 444 days.

Effective April 7, 2025, this fixed deposit scheme targets retail deposits above Rs 1 crore and below Rs 3 crore, and is available in both callable and non-callable formats. It allows investors to lock in competitive interest rates at a time when market rates are expected to soften.

Commenting on the new scheme, Beena Vaheed, Executive Director at Bank of Baroda, said "With interest rates trending downwards, the scheme offers an opportunity to lock in higher rates and earn stable and assured returns."

The scheme offers different rates depending on the category of the depositor and whether the deposit is callable (can be withdrawn before maturity) or non-callable (cannot be withdrawn early).

Under Callable Option

Residents/General Public/NRO/NRE - 7.15 per cent p.a.
Resident Senior Citizens - 7.65 per cent p.a. (7.15 + 0.50)
Resident Super Senior Citizen - 7.75 per cent p.a. (7.15+0.50+0.10)

Under Non-Callable Option

Residents/General Public/NRO/NRE - 7.20 per cent p.a. (7.15 + 0.05)
Resident Senior Citizens - 7.70 per cent p.a. (7.15 + 0.05 + 0.50)
Resident Super Senior Citizen - 7.80 per cent p.a. (7.15 + 0.05 + 0.50 + 0.10)

The non-callable version offers an additional 5 basis points (bps) across all categories.

How Much Interest Would You Earn On A Fixed Deposit Of Rs 1 Lakh?

Under callable options
Residents/General Public/NRO/NRE - Rs 8,763.61
Resident Senior Citizens - Rs 9,381.3
Resident Super Senior Citizen - Rs 9,504.92

Under non-callable options
Residents/General Public/NRO/NRE- Rs 8,825.36
Resident Senior Citizens- Rs 9,443.11
Resident Super Senior Citizen- Rs 9,566.73

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Key Features Of bob Square Drive Deposit Scheme

Exclusive interest rate benefits for Resident Senior and Super Senior Citizens.
Super Senior Citizens (80+ years) get an extra 10 basis points (bps) over the senior citizen rate.
Non-callable deposits receive an additional 5 bps over callable deposits.
Minimum deposit for this scheme is above Rs 1 crore, and maximum is Rs 3 crore.

Who Can Apply For bob Square Drive Deposit Scheme?

The scheme is open to:
Individuals (single or jointly)
Clubs, associations, educational institutions
Partnerships, joint stock companies, and other entities eligible for term deposits under Bank of Baroda rules

How To Apply For bob Square Drive Deposit Scheme?

You can open the deposit:
Via the bob World app
Through Internet Banking
By visiting any Bank of Baroda branch
New customers can also use video KYC via the bank's website - no savings account needed!

With guaranteed returns and preferential rates, the bob Square Drive Deposit Scheme is ideal for investors looking to grow their savings securely over the short term.