BOB Square Drive FD Scheme: As India’s leading public-sector bank, Bank of Baroda (BoB), seeks to woo investors, it has now launched a new fixed deposit (FD) scheme—the BOB Square Drive Deposit Scheme. The scheme offers a very high interest rate of up to 7.75% for a period of 444 days, and hence is a very lucrative option for investors looking to make stable returns.
Interests on FDs were also revised by the bank from April 7, 2025, and the Utsav Deposit Scheme was withdrawn.
BOB Square Drive Deposit Scheme Highlight
- Tenure: 444 days (ideal for medium-term investors)
- Maximum Investment Limit: Less than ₹3 crore
BOB Square Drive Deposit Scheme Interest Rates:
- General Citizens: 7.15% p.a.
- Senior Citizens: 7.65% p.a.
- Super Senior Citizens: 7.75% p.a.
For deposits above ₹1 crore but below ₹3 crore, the interest rate ranges between 7.20% and 7.80% for non-callable FDs (where premature withdrawal is not allowed without penalties).
BOB’s Revised FD Interest Rates (Callable Deposits – Below ₹3 Crore)
| Tenure | General Public (%) | Senior Citizens (%) | Super Senior Citizens (%) |
|---|---|---|---|
| 7 to 14 days | 4.25 | – | – |
| 15 to 45 days | 4.50 | – | – |
| 46 to 90 days | 5.50 | – | – |
| 91 to 180 days | 5.60 | – | – |
| 181 to 210 days | 5.75 | – | – |
| 211 to 270 days | 6.25 | – | – |
| 271 days to 1 year | 6.50 | – | – |
| 1 Year | 6.85 | – | – |
| 1 year to 400 days | 7.00 | 7.50 | 7.60 |
| 2 to 3 years | 7.15 | 7.65 | 7.75 |
| 5 to 10 years | 6.50 | 7.50 | 7.50 |
Tax-Saving FD (5-Year Lock-in Period)
- General Public: 6.80%
- Senior Citizens: 7.40%
- Super Senior Citizens: 7.50%
For tax-saving FDs with tenures above 5 years and up to 10 years, general customers earn 6.50%, while senior and super senior citizens get 7.50%.
