BOB FD Scheme – If you are someone who likes safe investments and prefers guaranteed returns over market risks, then you might want to take a closer look at what Bank of Baroda has just announced. The bank has launched a brand new fixed deposit scheme with a slightly unusual twist — it’s a 444-day deposit, and it’s offering some of the highest interest rates currently available in the market. This special offer is called the BoB Square Drive Deposit Scheme, and it officially starts from April 8, 2025.
Let’s break down what makes this fixed deposit so attractive and whether you should consider investing.
What Is the BoB Square Drive Deposit Scheme
The scheme is a limited-period fixed deposit product by Bank of Baroda, designed to help investors get better returns without worrying about market volatility. The highlight of the scheme is its tenure of exactly 444 days and its attractive interest rates, which vary slightly based on the age of the investor and whether the FD is callable or non-callable.
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Interest Rates Under the Scheme
Here’s how the interest rates are structured for deposits under three crore rupees:
For regular fixed deposits:
- General public will earn 7.15 percent per annum
- Senior citizens aged 60 and above will earn 7.65 percent per annum
- Super senior citizens aged 80 and above will get 7.75 percent per annum
For non-callable fixed deposits (which cannot be withdrawn before maturity):
- General public will earn 7.20 percent per annum
- Senior citizens will get 7.70 percent per annum
- Super senior citizens will enjoy 7.80 percent per annum
Non-callable FDs must be between one crore and three crore rupees. For investors with a larger corpus and no urgent need for liquidity, this option provides slightly higher returns.
Why This FD Stands Out in Today’s Market
With interest rates dropping slowly across the board, getting over seven percent on a fixed deposit from a public sector bank is a big deal. Most banks today offer lower rates on similar products, especially for shorter tenures. That is what makes this 444-day scheme from Bank of Baroda such a standout option.
If you are a conservative investor looking to lock in a good rate for a little over a year, this product offers the best of both worlds — short-term investment with long-term style returns. It gives you safety, predictability, and steady earnings without exposure to market-linked risks.
Who Should Consider This Scheme
This FD is ideal for:
- Retired individuals looking to boost their fixed income
- Middle-aged professionals with idle cash and no immediate need for it
- Families saving for upcoming short-term expenses like education or travel
- Anyone wanting to diversify their savings portfolio
If you are sitting on cash in a savings account that’s earning barely three or four percent interest, moving a part of it into this FD could give your savings a real boost.
How to Open This FD — Online or Offline
Bank of Baroda has made it simple for everyone to invest in this scheme, whether you’re a new or existing customer. Here’s how you can do it:
- Visit any nearby Bank of Baroda branch and apply directly
- Use the BoB World app or the bank’s official internet banking platform
- If you’re new to the bank, you can open an FD online through a video KYC process — no need to open a savings account first
This flexibility makes it very convenient for both tech-savvy investors and those who prefer in-person banking.
What Bank of Baroda Has to Say
Beena Vaheed, Executive Director of Bank of Baroda, emphasized the bank’s intent behind launching this scheme. She said that at a time when interest rates are slowly dropping, the BoB Square Drive Deposit Scheme is designed to provide depositors with a strong, fixed-income option. The goal is to help customers earn more while keeping their money safe.
Important Things to Remember
- This is a limited-time scheme, so it won’t be around forever
- It is only available for retail deposits below three crore rupees
- For non-callable FDs, the minimum deposit must be one crore rupees
- The scheme starts on April 7, 2025, so investors should act soon
If you’ve been waiting for the right moment to invest your savings into something safe yet rewarding, this could be the opportunity you were looking for. With higher interest rates across all age groups and easy ways to apply, the BoB Square Drive Deposit Scheme stands out as one of the most appealing fixed deposit offers in recent times.
Just make sure to check the fine print, confirm the terms with the bank, and choose the right type of FD — callable or non-callable — depending on your financial needs. Whether you are planning for the short term or simply looking to lock in a good rate before rates drop further, this 444-day FD is definitely worth considering.
