BoB launches its new '360 deposit scheme'; know here the maximum interest

Bank of Baroda, an Indian public sector bank, launched its new 'bob-360 deposit scheme' on Monday, January 15, 2024. The scheme pays out an annual interest rate of 7.60 per cent. Know here who is eligible for the offer and the maximum interest.

The Vadodara-headquartered bank has launched its new short-term fixed deposit scheme with the name of 'bob-360 deposit scheme'. In this, general fixed deposit account holders will receive interest of up to 7.10 per cent, while senior citizens will receive 7.60 per cent interest that will come into effect today (January 15, 2024).

"bob-360 is an excellent opportunity for depositors who are looking for higher interest rates and assured returns for a shorter time period," said Executive Director of Bank of Baroda Bank.

"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," he further said.

According to the bank, new as well as existing customers can benefit from the scheme at any Bank of Baroda branch across India, both online and offline method.