1 Peter 3:21 Whereunto baptism, being of the like form, now saveth you
1 Peter 3:21-22 Baptism, which corresponds to this, now saves you, not as a removal of dirt from the body but as an appeal to God for a good conscience, through the resurrection of Jesus Christ, who has gone into heaven and is at the right hand of God, with angels, authorities, and powers having been subjected to him.
NOT water baptism.
If baptism saves, then Christ died for nothing.
But, again, only blood can atone for sin. Water can't do it. Water represents the Holy Spirit into whom we are baptized when we believe.
Hebrews 9:22 Indeed, under the law almost everything is purified with blood, and without the shedding of blood there is no forgiveness of sins.
Additionally, the interpretation that baptism saves directly contradicts other clear teaching of salvation by believing, thus rendering it a wrong interpretation.