1 Peter 3:20 who once were disobedient, when the patience of God kept waiting in the days of Noah, during the construction of the ark, in which a few, that is, eight persons, were brought safely through the water.
1 Peter 3:21 And corresponding to that, baptism now saves you-- not the removal of dirt from the flesh, but an appeal to God for a good conscience-- through the resurrection of Jesus Christ,
1 Peter 3:22 who is at the right hand of God, having gone into heaven, after angels and authorities and powers had been subjected to Him.
In 1st Peter, it actually clearly says that it does when one obeys the command to be baptized with the heart, genuinely. It is very clear.
1Pet 3:18 For Christ also hath once suffered for sins, the just for the unjust, that he might bring us to God, being put to death in the flesh, but quickened by the Spirit:
1Pet 3:19 By which also he went and preached unto the spirits in prison;
1Pet 3:20 Which sometime were disobedient, when once the longsuffering of God waited in the days of Noah, while the ark was a preparing, wherein few, that is, eight souls were saved by water.
1Pet 3:21 The like figure whereunto [even] baptism doth also now save us (not the putting away of the filth of the flesh, but the answer of a good conscience toward God,) by the resurrection of Jesus Christ:
1Pet 3:22 Who is gone into heaven, and is on the right hand of God; angels and authorities and powers being made subject unto him.
Baptism here is the LIKE figure, such as what was quoted in Romans earlier.
Rom 6:3 Know ye not, that so many of us as were baptized into Jesus Christ were baptized into his death?
Rom 6:4 Therefore we are buried with him by baptism into death: that like as Christ was raised up from the dead by the glory of the Father, even so we also should walk in newness of life.
Rom 6:5 For if we have been planted together in the likeness of his death, we shall be also [in the likeness] of [his] resurrection:
Rom 6:6 Knowing this, that our old man is crucified with [him], that the body of sin might be destroyed, that henceforth we should not serve sin.
Rom 6:7 For he that is dead is freed from sin.
Rom 6:8 Now if we be dead with Christ, we believe that we shall also live with him:
Rom 6:9 Knowing that Christ being raised from the dead dieth no more; death hath no more dominion over him.
Rom 6:10 For in that he died, he died unto sin once: but in that he liveth, he liveth unto God.
Rom 6:11 Likewise reckon ye also yourselves to be dead indeed unto sin, but alive unto God through Jesus Christ our Lord.
Buried with Him in baptism, is a metaphor, when Christ died, we died and when Christ rose again to eternal life, we rose out of the water as a public statement that we have believed, we put the label on the can.
http://www.middletownbiblechurch.org/salvatio/baptsave.htm
Does Water Baptism Save?
A Biblical Refutation of Baptismal Regeneration