Bank of India FD Interest Rates
Bank of India sets itself apart by offering a wide range of FD choices to meet the demands of different types of investors. The bank provides variable tenures for both short- and long-term deposits, enabling investors to match their investments with their financial objectives. Our thorough analysis of the salient characteristics reveals the subtle differences that distinguish Bank of India FDs.
The Bank of India has launched a new Fixed Deposit (FD) scheme called the “Bank of India Super Special Fixed Deposit.” Under this scheme, a yearly interest rate of 7.50% is being offered. This offer is available to both existing customers and the general public. The interest rate applies to FDs ranging from 2 crore rupees to 50 crore rupees. The maturity period for this FD is 175 days. This FD scheme became effective for customers starting from January 1, 2024.
Bank of India FD Rates 2024
| Maturity | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 days to 14 days | 4 | 4.5 |
| 15 days to 30 days | 4.25 | 4.75 |
| 31 days to 45 days | 4.25 | 4.75 |
| 46 days to 90 days | 6 | 6.5 |
| 91 days to 120 days | 6.25 | 6.75 |
| 121 days to 179 days | 6.25 | 6.75 |
| 180 days to 269 days | 6.5 | 7 |
| 270 days to less than 1 year | 6.5 | 7 |
| 1 Year & above to less than 2 Yrs | 6.8 | 7.3 |
| 2 years & above to less than 3 years | 6.8 | 7.3 |
| 3 years & above to less than 5 years | 6.7 | 7.2 |
| 5 years & above to less than 8 years | 6.7 | 7.2 |
| 8 years & above to 10 years | 6.7 | 7.2 |
Bank of India Fixed Deposit Rates for Short-Term Investments:
For a short-term holding of 30 days, the returns stand at 4.5%. Returns for tenures ranging from two to three months are set at 6.5%, and for a four-month tenure, it is 7%. The interest rate for a six-month tenure is 7.25%, while for a nine-month tenure, it is 7.75% per annum.
BOI Medium to Long-Term Fixed Deposit Rates:
Long-term returns of 7.75% are applicable for tenures ranging from one to two years. For holdings of two to five years, the interest rate is 7.5%, gradually decreasing to 7.25% for tenures of five years and above.
Bank of India Senior Citizen Fixed Deposit Rates:
In addition to the mentioned returns, senior citizens receive an extra 0.5% for six-month tenures, while the returns remain unchanged for tenures ranging from two to four months.
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