New Delhi: Bank of Baroda (BoB) has introduced a new fixed deposit plan, known as the ‘BoB Square Drive Deposit Scheme’. The new FD scheme applies to retail deposits below Rs 3 crore. The new investment option was implemented from April 7, 2025.

The BoB Square Drive Deposit Scheme subscribers will be entitled to get up to 7.80 per cent interest rates per annum for a tenure of 444 days. Under this scheme, general citizens will earn 7.15 percent return per annum, while senior citizens and super senior citizens will be given 7.65 per cent and 7.75 per cent, respectively. The deposits under non-callable category, the investor will get an interest rate of 7.80% per cent depending on the age category.

The new Bank of Baroda FD investment option is applicable for all schemes – General, NRE, and NRO and Non – Callable and with all the -3- interest options (RIRD, MIP & QIP for above 1 Year period only).

Depositors falling under the Resident Indian Sr Citizen category are entitled to Citizen Preferential Rate. The Super Senior Citizen category customers aged 80 years and above will get 10 bps additional interest on top of the senior citizen rate.

The eligibility criteria mentions that the bob Square Drive Deposit Scheme can be opted by an individual in his own name, jointly by more than one individual. The scheme can also be subscribed by in the names of clubs, associations, educational institutions, partnerships and joint stock companies and any other institutions.

For bob Advantage (Non-Callable) Fixed Deposit (Domestic) Accounts – minimum amount is Above Rs 1 crores and maximum amount is below Rs 3 crore for (Fresh & Renewal) i.e. non-callable additional 5bps over Callable Rates, banks website mentioned.