Bank of India has revised fixed deposit interest rates on tenures below Rs 2 crore. After the revision, the bank offers interest rates between 3% and 7.25% for tenures ranging from 7 days to 10 years.
For deposits maturing between 7 and 45 days, the bank pays a 3% interest rate to regular citizens. Deposits maturing between 46 and 179 days will earn 4.50 percent interest. On deposits maturing between 180 and 269 days, the bank gives a 5.50 percent interest rate. On deposits maturing between 270 days and less than one year, the bank offers an interest rate of 5.75 percent.Also read: HDFC Bank reduces FD interest rates on these tenures: Check latest fixed deposit rates
Deposits having a one year to 399 days will now earn 6.50 percent. The bank offers the highest interest rate of 7.25 percent on 400-day tenure. It provides a 6.50% interest rate on fixed deposit terms ranging from one to two years. The bank offers a 6.80 percent interest rate on FDs on 2 years tenure. The bank offers 6.75 percent for maturities ranging from 2 years to less than 3 years. The bank offers 6.75 percent on terms of two to three years. The bank offers 6.50 percent for 3 years to 5 years.
| Tenure | Revised W.E.F 01.10.2023 |
| 7 days to 14 days | 3 |
| 15 days to 30 days | 3 |
| 31 days to 45 days | 3 |
| 46 days to 90 days | 4.5 |
| 91 days to 179 days | 4.5 |
| 180 days to 210 days | 5.5 |
| 211 days to 269 days | 5.5 |
| 270 days to less than 1 year | 5.75 |
| Above 1 Year to 399 Days | 6.5 |
| 400 days (Monsoon Deposit) | 7.25 |
| 401 days to less than 2 Years | 6.5 |
| 2 Years | 6.8 |
| 2 Years to less than 3 Years | 6.75 |
| 3 Years to less than 5 Years | 6.50# |
| 5 Years to less than 8 Years | 6.00# |
| 8 years & above to 10 Years | 6.00# |
Important points to note
· The minimum deposit amount for aforementioned maturities and buckets is Rs.10,000/-.
· #Senior Citizen- Age 60 and above but less than 80 years, Super Senior Citizen- Age 80 and up.
· # Senior citizens would receive an additional rate of interest of 25 basis points (bps) on retail TDs (less than Rs. 2 crore) for all tenors of 3 years and beyond, i.e. 75bps.
· Super Senior Citizens would receive an additional rate of interest of 40 basis points (bps) on retail TDs (less than Rs. 2 crore) for all tenors of 3 years and beyond, i.e. 90 bps.
Bank of India latest FD interest rates for senior citizens
Following the revision, the bank offers a rate of interest in the range of 3 per cent to 7.75 percent to senior customers for deposits maturing between 7 days and 10 years.
