Author: Harsh Writer
Published: September 6, 2025
What is the BOB Square Drive Deposit Scheme?
The Bank of Baroda (BOB) has introduced a unique fixed deposit (FD) plan called the “BOB Square Drive Deposit Scheme”, offering an attractive interest rate for a special tenure of 444 days. Launched on April 7, 2025, this scheme is perfect for investors seeking a short-to-medium-term, secure investment with higher returns.
Key Features at a Glance:
- Tenure: Exactly 444 days (1 year, 2 months, 19 days)
- Interest Rate: Up to 7.75% based on customer category
- Type: Fixed Deposit (FD)
- Availability: Across all Bank of Baroda branches and digital channels
Interest Rates under BOB Square Drive Deposit Scheme
| Investor Type | Interest Rate (Annual) |
|---|---|
| Regular Customers | 7.15% |
| Senior Citizens (60+ years) | 7.65% |
| Super Senior Citizens (80+) | 7.75% |
| High-value FD (₹1 Cr – ₹3 Cr, Non-callable) | 7.20% – 7.80% |
Callable vs Non-callable FD – What’s the Difference?
- Callable FD: Allows premature withdrawal before maturity. However, interest may be lower if withdrawn early.
- Non-callable FD: No premature withdrawal allowed. Higher interest rates due to locked-in investment.
Tip: Choose non-callable FDs if you’re sure you won’t need the funds before 444 days — you’ll get better interest returns.
Revised FD Interest Rates by Tenure (Bank of Baroda – Sept 2025)
| Tenure | Interest Rate |
|---|---|
| 7 – 14 days | 4.25% |
| 15 – 45 days | 4.50% |
| 46 – 90 days | 5.50% |
| 91 – 180 days | 5.60% |
| 181 – 210 days | 5.75% |
| 211 – 270 days | 6.25% |
| 271 days – 1 year | 6.50% |
| 1 year | 6.85% |
| 1 – 400 days | 7.00% (Senior: 7.50%, Super Senior: 7.60%) |
| 2 – 3 years | 7.15% (Senior: 7.65%, Super Senior: 7.75%) |
| 5 – 10 years | 6.50% (Super Senior: 7.50%) |
Tax Saving FD Rates (5-year Lock-in)
- Regular Customer: 6.80%
- Senior Citizen: 7.40%
- Super Senior Citizen: 7.50%
Benefits of the BOB Square Drive Deposit Scheme
- Safe Investment: Offered by Bank of Baroda – a trusted public sector bank.
- Fixed Returns: Guaranteed interest regardless of market conditions.
- Attractive Rates for Seniors: Higher returns for senior and super senior citizens.
- Ideal for Short-to-Medium Term: 444-day tenure strikes the right balance.
- Bonus for High-Value Investors: Non-callable FDs of ₹1–3 crore enjoy the best rates.
Why Did BOB Launch This Scheme?
With increasing volatility in equity and mutual fund markets, more people are turning toward secure investments. The BOB Square Drive Deposit Scheme aims to meet this need — especially for retirees and conservative investors looking for reliable and predictable returns.
Final Thoughts
If you’re looking for a safe and rewarding investment with a relatively short lock-in period, the BOB Square Drive Deposit Scheme could be a perfect choice. With interest rates up to 7.75%, flexible options, and the reliability of a government bank, this FD plan stands out as a top pick for 2025.
Want to invest?
Visit your nearest Bank of Baroda branch or log in to their official website to get started with the Square Drive FD scheme today.
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