Bank of Baroda has launched a new fixed deposit scheme Bob Square Drive Deposit Scheme (also known as Bob Utsav Deposit Scheme), which has been introduced with attractive interest rates for a limited period. This scheme is especially beneficial for those investors who are looking for a safe investment option with fixed returns.

For how many days will I have to invest?

Under this scheme, customers can make fixed deposits (FD) for 444 days. General citizens get a maximum interest rate of 7.25% per annum on this, while senior citizens can get up to 7.75%, and super senior citizens (80 years and above) can get up to 7.95%. These rates are considered to be the highest among the existing FD schemes of the bank, making this scheme very popular among investors.

A special feature of this scheme is that it applies only to retail fixed deposits, that is, it is designed for individual investors. This scheme is especially beneficial for resident Indian senior citizens and super senior citizens, as they get the benefit of higher interest rates.

399 days FD scheme

Bank of Baroda has also introduced an optional 399-day FD scheme with this scheme, in which the same interest rates apply. 7.25% for general citizens and 7.75% for senior citizens. Both schemes are great options for those investors who are looking for short-term but safe investments.

In the digital age, the Bank of Baroda has also provided the facility of opening FD online, so that customers can easily avail of this scheme from home. Investors can invest in this scheme through the bank's website or mobile app.

Disclaimer: This content has been sourced and edited from tv 9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.