BOB introduces Square Drive FD with 7.75% interest

State-owned Bank of Baroda on Monday announced that it has made key changes to its fixed deposit (FD) offerings. According to a press release on Monday, the bank has launched a new FD option named the ‘bob Square Drive Deposit Scheme’. The revised FD interest rates, along with the new scheme, came into effect on April 7, 2025, and are applicable to deposits below Rs 3 crore. The bank has also discontinued the special Utsav Deposit Scheme.

With the discontinuation of the Utsav scheme and the launch of the bob Square Drive Deposit Scheme, Bank of Baroda has adjusted its FD offerings to better align with changing market conditions.

Also read: SBI closes Amrit Kalash FD offering 7.60%: Know SBI special fixed deposit earning 7.75%

bob Square Drive Deposit Scheme (444 Days)
The scheme offers an interest rate of 7.15% per annum for general citizens, 7.65% for senior citizens, and 7.75% for super senior citizens for callable deposits.



Latest Bank of Baroda FD interest rates
Following the revision, the bank will provide general citizens with FD interest rates between 4.25% and 7.15% for deposit periods ranging from 7 days to 10 years, applicable to amounts below Rs 3 crore for callable deposits. For senior citizens, the bank offers an interest rate between 4.75% and 7.65%.



bob Tax Savings Fixed Deposit
For a 5-year deposit, Bank of Baroda offers an interest rate of 6.80% to the general public and NRO (Non-Resident Ordinary) account holders and 7.40% to resident Indian senior citizens. Super-senior citizens, typically those aged 80 and above, receive a more favourable rate of 7.50% for the same tenure.

Also read: FD rate cut ahead of RBI MPC: HDFC Bank, Yes Bank, Punjab & Sind Bank cut FD interest rate

The bank also offers an interest rate of 6.50% on tax-saving FDs for the general public, applicable to deposits exceeding 5 years and up to 10 years. However, both senior and super senior citizens receive an interest rate of 7.50%, offering them better returns for long-term savings.


( # incl. additional ROI of 0.50+0.10 (reduced from 0.15%) for RTD above 3 years and up to 5 years w.e.f 14.10.2024, **incl. additional ROI of 0.50%+0.50% for RTD above 5 years and up to 10 years to resident senior citizens and $ includes 0.10% for senior citizens for deposits above 1 year and up to 5 years)