BoB Launches New Retail Term Deposit Scheme

Hyderabad: Bank of Baroda (Bank), a public sector bank, on Monday announced the launch of ‘BoB Square Drive Deposit Scheme,’ a new retail term deposit scheme. The scheme has opened on April 7, 2025, and is applicable on retail term deposits below Rs 3 crore.

According to the release, the 444-day term deposit scheme will offer an interest rate of 7.15 per cent for the general public, 7.65 per cent for senior citizens, 7.75 per cent for super senior citizens (aged 80 years and above) and up to 7.80 per cent per annum on non-callable deposits.

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.”

Vaheed informed that customers can open this fixed deposit through the Bank’s digital channels including the bob World app, the Bank’s internet banking platform, besides any Bank of Baroda branch.