Bank of Baroda launches ‘bob 360’ deposit scheme

Bank of Baroda (Bank), a leading public-sector bank, has launched ‘bob 360,’ a special short-term retail deposit scheme, offering higher interest rates up to 7.60 per cent for 360 days. It also includes 0.50 per cent per annum for senior citizens. The scheme opened on January 15, 2024, and is applicable on retail deposits below Rs2 crore.

Amongst large banks, this is one of the most attractive rates being offered to depositors for fixed deposits of less than 1 year maturity. Joydeep Dutta Roy, Executive Director, Bank of Baroda, said: “bob 360 is an excellent opportunity for depositors who are looking for higher interest rates and assured returns for a shorter time period.

At the same time, bob 360 will help the Bank increase its share of short-term Retail Term Deposits and manage its cost of deposits effectively.” Existing and new customers of Bank of Baroda can open bob 360 through any of the Bank’s branches across India, while an online FD can also be opened via the Bank’s Net Banking (bob World Internet) platform. Existing customers can also open an online FD through the Mobile app (bob World).