Secure your financial future with guaranteed returns offered by Bank of India’s Fixed Deposits. Whether you're an individual, joint depositor, minor, company, or other entities, there's an FD that will fit your financial needs. With tenures ranging from 7 days to 10 years, you also have the flexibility to choose a plan that aligns with your financial goals.
Bank of India Fixed deposit rates currently range between 3.00% to 7.25% p.a for regular citizens, depending on the chosen tenure and deposit amount. This ensures your money grows steadily and securely, protected by the trust and reliability of a leading private sector bank.
Bank of India FD Rates 2024 (Below 2 Crores)
The Bank of India FD rates for deposits of below ₹2 crores are displayed in the table below along with the applicable tenures:
| FD Tenures | Interest Rates % (p.a.) General Public |
|---|---|
| 7 days - 14 days | 3.00% |
| 15 days - 30 days | 3.00% |
| 31 days - 45 days | 3.00% |
| 46 days - 90 days | 4.50% |
| 91 days - 179 days (except 175 days) | 4.50% |
| 175 days | 4.50% |
| 180 days - 210 days | 5.50% |
| 211 days - 269 days | 5.50% |
| 270 days - less than 1 year | 5.75% |
| 1 year | 6.50% |
| Above 1 year - less than 2 years | 6.50% |
| 2 years | 7.25% |
| Above 2 years - less than 3 years | 6.75 |
| 3 years - less than 5 years | 6.50% |
| 5 years - less than 8 years | 6.00% |
| 8 years - 10 years | 6.00% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India Senior Citizen FD Rates
Senior citizens can enjoy special benefits on their fixed deposit accounts. Their FDs are rewarded an extra 0.50% interest on deposits of below ₹2 crores for tenures between 6 months to less than 3 years. Furthermore, an extra 0.25% interest is given to them for tenures of 3 to 10 years on deposits of under ₹2 crores.
Bank of India also offers a special interest rate for super senior citizens of 0.65% extra on deposits of ₹2 crores below for tenures of 6 months to less than 3 years. An additional 0.25% interest is given above the 0.65% interest for tenures of 3 to 10 years.
The Bank of India FD rates for Senior Citizens and Super Senior Citizens are as follows:
| FD Tenures | Interest Rates % (p.a.) Senior Citizens |
Interest Rates % (p.a.) Super Senior Citizens |
|---|---|---|
| 7 days - 14 days | 3.00% | 3.00% |
| 15 days - 30 days | 3.00% | 3.00% |
| 31 days - 45 days | 3.00% | 3.00% |
| 46 days - 90 days | 4.50% | 4.50% |
| 91 days - 179 days (except 175 days) | 4.50% | 4.50% |
| 175 days | 4.50% | 4.50% |
| 180 days - 210 days | 6.00% | 6.15% |
| 211 days - 269 days | 6.00% | 6.15% |
| 270 days - less than 1 year | 6.25% | 6.40% |
| 1 year | 7.00% | 7.15% |
| Above 1 year - less than 2 years | 7.00% | 7.15% |
| 2 years | 7.75% | 7.90% |
| Above 2 years - less than 3 years | 7.25% | 7.40% |
| 3 years - less than 5 years | 7.25% | 7.40% |
| 5 years - less than 8 years | 6.75% | 6.90% |
| 8 years - 10 years | 6.75% | 6.90% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India Star Sunidhi Fixed Deposit Scheme
Star Sunidhi FD scheme is a tax saving deposit scheme offered by Bank of India to individuals and HUFs having PAN numbers. The tenure for the scheme is between 5 years to 10 years for the following interest rates:
| Tenure | Interest Rates % (p.a.) General Public | Interest Rates % (p.a.) Senior Citizens | Interest Rates % (p.a.) Super Senior Citizens |
|---|---|---|---|
| 5 years - < 8 years | 6.00% | 6.75% | 6.90% |
| 8 years - 10 years | 6.00% | 6.75% | 6.90% |
Bank of India Annualised Fixed Deposit Rates (Below 2 Crores)
The Bank of India offers annualised FD rates in accordance with the Reserve Bank of India guidelines. The effective annualised Bank of India FD rates are based on quarterly compounding under the Reinvestment Plan.
| Tenure | Interest Rates % (p.a.) General Public | Annualised Rate of Return |
|---|---|---|
| 180 days - 210 days | 5.50% | 5.54% |
| 211 days - 269 days | 5.50% | 5.54% |
| 270 days - less than 1 year | 5.75% | 5.83% |
| 1 year | 6.50% | 6.66% |
| Above 1 year - less than 2 years | 6.50% | 6.66% |
| 2 years | 7.25% | 7.73% |
| Above 2 years - less than 3 years | 6.75% | 7.16% |
| 3 years - less than 5 years | 6.50% | 7.11% |
| 5 years - less than 8 years | 6.00% | 6.94% |
| 8 years - 10 years | 6.00% | 7.63% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India Fixed Deposit Rates (Above 2 Crores)
Bank of India also offers bulk deposits for investments of ₹2 crores above. The following table shows the BOI FD interest rates applicable to various tenures for deposits of ₹ 2 crore above:
| FD Tenures | Interest Rates % (p.a.) >₹2 Cr - <₹10 Cr | Interest Rates % (p.a.) ₹10 Cr - ₹50 Cr | Interest Rates % (p.a.) ₹50 Cr above |
|---|---|---|---|
| 7 days - 14 days | 4.50% | 6.25% | 6.25% |
| 15 days - 30 days | 4.50% | 6.70% | 6.50% |
| 31 days - 45 days | 4.50% | 6.75% | 6.75% |
| 46 days - 90 days | 5.25% | 6.95% | 6.95% |
| 91 days - 179 days (except 175 days) | 6.00% | 7.00% | 7.00% |
| 175 days | 7.50% | 7.00% | 7.00% |
| 180 days - 210 days | 6.25% | 7.50% | 7.00% |
| 211 days - 269 days | 6.50% | 7.00% | 7.00% |
| 270 days - less than 1 year | 6.50% | 7.25% | 7.25% |
| 1 year | 7.25% | 7.25% | 7.25% |
| Above 1 year - less than 2 years | 6.75% | 7.35% | 7.73% |
| 2 years | 6.50% | 7.20% | 7.20% |
| Above 2 years - less than 3 years | 6.50% | 4.50% | 4.50% |
| 3 years - less than 5 years | 6.00% | 4.50% | 4.50% |
| 5 years - less than 8 years | 6.00% | 4.50% | 4.50% |
| 8 years - 10 years | 6.00% | 4.50% | 4.50% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India Annualised Fixed Deposit Rates (₹2 Crores - Less Than ₹10 Crores)
The Bank of India also offers annualised FD deposit rates to investment amounts of ₹2 Crore to less than ₹10 Crores. The rates are provided in the table below along with the interest rates:
| Tenure | Interest Rates % (p.a.) General Public | Annualised Rate of Return |
|---|---|---|
| 180 days - 210 days | 6.25% | 6.30% |
| 211 days - 269 days | 6.50% | 6.61% |
| 270 days - less than 1 year | 6.50% | 6.61% |
| 1 year | 7.25% | 7.45% |
| Above 1 year - less than 2 years | 6.75% | 6.92% |
| 2 years | 6.50% | 6.88% |
| Above 2 years - less than 3 years | 6.50% | 6.88% |
| 3 years - less than 5 years | 6.00% | 6.52% |
| 5 years - less than 8 years | 6.00% | 6.94% |
| 8 years - 10 year | 6.00% | 7.63% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India FD Calculator
Find out your Bank of India FD interest rates and maturity amount with the help of the Bank of India Fixed Deposit calculator. The calculator is a simple and user-friendly tool to use to help you estimate the potential gains from an investment.
Bank of India FD Rates for NRI
Bank of India offers fixed deposits for Non-resident Indians through several accounts including NRE, FCNR(B) and RFC. The interest rates for NRE, FCNR(B) and RFC are given below.
Bank of India NRE FD Rates
The Bank of India NRE FD rates are given in the table below for deposits of below ₹2 crores and for deposits of ₹2 crores to below 10 crores:
| Tenure | Interest rates (%) p.a. for below ₹2 Crores. | Interest rates (%) p.a. for ₹2 Crores - < ₹10 Crores. |
|---|---|---|
| 1 year | 6.50% | 7.25% |
| Above 1 year - less than 2 years | 6.50% | 6.75% |
| 2 years | 7.25% | 6.50% |
| Above 2 years - less than 3 years | 6.75% | 6.50% |
| 3 years - less than 5 years | 6.50% | 6.00% |
| 5 years - less than 8 years | 6.00% | 6.00% |
| 8 years - 10 years | 6.00% | 6.00% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India NRE FD Annualised Rates (Below ₹2 Crores)
The Bank of India offers annualised interest rates for NRE deposits of below ₹2 Crores as per the RBI guidelines. The annualised rates along with the interest rates are given below:
| Tenure | Interest Rate % (p.a.) | Annualised Rate of Returns % |
|---|---|---|
| 1 year | 6.50% | 6.66% |
| Above 1 Year to less than 2 Years | 6.50% | 6.66% |
| 2 years | 7.25% | 7.73% |
| Above 2 Years to less than 3 Years | 6.75% | 7.16% |
| 3 Years to less than 5 Years | 6.50% | 7.11% |
| 5 Years to less than 8 Years | 6.00% | 6.94% |
| 8 years & above to 10 Years | 6.00% | 7.63% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India NRE FD Annualised Rates (₹2 Crores - Below 10 Crores)
The annualised rate of return on the maturity value for NRE deposits of ₹2 crores to below ₹10 crores offered by Bank of India is given in the following table:
| Tenure | Interest Rate % (p.a.) | Annualised Rate of Return % |
|---|---|---|
| 1 year | 7.25% | 7.45% |
| > 1 year - < 2 years | 6.75% | 6.92% |
| 2 years | 6.50% | 6.88% |
| > 2 years to <3 years | 6.50% | 6.88% |
| 3 years - < 5 years | 6.00% | 6.52% |
| 5 years - < 8 years | 6.00% | 6.94% |
| 8 years - 10 Years | 6.00% | 7.63% |
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*Note- The interest rates are subject to change. Please check the Bank of India’s official website for the latest information.Bank of India FCNR(B) Interest Rates
The Foreign Currency Non-Resident (FCNR) account is offered for the following currencies; American Dollars (USD), Great British Pounds (GBP), Euro, Japanese Yen (JPY), Canadian Dollars (CAD), and Australian Dollars (AUD). The interest rates are given in the table below along with the applicable tenures:
| Tenure | USD | GBP | EUR | JPY | CAD | AUD |
|---|---|---|---|---|---|---|
| 1 year - < 2 years | 5.35% | 5.00% | 2.50% | 0.55% | 0.99% | 3.60% |
| 2 years - < 3 years | 4.00% | 2.50% | 0.21% | 0.55% | 2.05% | 1.42% |
| 3 years - < 4 years | 3.35% | 2.55% | 0.36% | 0.54% | 2.27% | 1.78% |
| 4 years - < 5 years | 3.25% | 2.60% | 0.46% | 0.55% | 2.33% | 2.05% |
| 5 years | 3.15% | 2.60% | 0.52% | 0.56% | 2.34% | 2.17% |
Bank of India RFC Interest Rates
Bank of India offers Resident Foreign Currency accounts to all NRIs who wish to deposit into an RFC account in two currencies; American Dollars (USD) and Great British Pounds(GBP). The RFC rates for BOI are given in the table below:
| Tenure | USD | GBP |
|---|---|---|
| 1 year - < 2 years | 5.35% | 4.75% |
| 2 years -< 3 years | 4.00% | 2.50% |
| 3 years | 3.35% | 2.55% |
Features and Benefits of Bank of India Fixed Deposit
Bank of India offers a safe and rewarding way to invest your money through fixed deposits. Here are the features and benefits of BOI FD:
- You can open an FD account with Bank of India at a minimum investment amount of ₹10,000 for Urban and Metro branches and ₹5000 for semi-urban, rural branches and senior citizens.
- BOI FD offers flexible tenures ranging from 7 days to 10 years.
- Any individual, HUFs, Senior Citizen, NRIs, Corporates, Trusts, Firms and more are eligible to open a Bank of India FD.
- Nomination facility is available.
- Senior citizens and super senior citizens can get special benefits and extra interest rates.
Bank of India FD Account Eligibility
The eligibility criteria for Bank of India FD are:
- Individuals
- Visually impaired
- Non-literate individual
- Joint depositors
- Non-resident Indians
- Hindu Undivided Family
- Associations
- Proprietorship
- Municipalities
- Panchayats
- Firms
- Clubs
- Governmental and Quasi-government bodies
- Religious institutions
- Educational institutions
- Joint stock companies
- Charitable institutions
- Institutions
Documents Required To Open Bank of India FD
To open an FD with Bank of India, you will need to submit the following documents:
- Application form
- Proof of identity: Aadhaar card, PAN card, Driving licence, Photo ration card, Government ID cards, Senior citizen ID, Passport.
- Proof of Address: Telephone bill, Electricity bill, Bank statement with cheque.
- Passport size photograph
Types of Bank of India Fixed Deposits
Bank of India offers diverse fixed deposits, providing investors an array of options to choose from, these different types are:
- BOI Monthly and Quarterly Deposit:
- For all eligible individuals.
- Minimum deposit of ₹10,000 in Metro and Urban areas, ₹5000 for rural or semi urban areas and senior citizens.
- Interest is paid monthly or quarterly.
- Maximum tenure is 10 years.
- Double Benefit Term Deposits:Earn higher interest with Double Benefit Deposits! Interest compounds quarterly but is paid out at maturity which is 12-120 months.
- For all eligible individuals.
- Tenure ranges from 6 months to 120 months.
- Minimum deposits are ₹10,000 for metro and urban areas, and ₹5,000 for rural, semi-urban areas, as well as senior citizens.
- BOI Star Sunidhi Deposit Scheme: A tax saving fixed deposit scheme offered by BOI.
- The scheme is eligible for individuals and HUFs with PAN cards.
- Minimum deposit is 10,000 while the maximum deposit is 1,50,000.
- The tenure ranges from 5 to 10 years.
- Tax exemption under Section 80C of Income Tax Act.
- Super Special Deposit Account BOI: A special scheme for high net worth individuals, HUFs, Trusts, Companies, and other investors seeking high returns.
- An investment amount of ₹2 Crores to ₹50 Crores
- Interest rate of 7.50% for a tenure of 175 days.
- Fixed Short Term Deposit: This is for fixed deposits of 6 months where interest is calculated based on complete or incomplete months for 365 days in a year.
- The account can be applied by all eligible individuals.
- Minimum investment amount is 1 lakh for short deposit, ₹10,000 for fixed deposit in Metro and Urban branches and ₹5000 in rural, semi urban branches and for senior citizens.
- For tenure of 7 to 14 days the minimum deposit will be ₹1 lakh.
- Withdrawal is not applicable to subsidies kept under Govt sponsored schemes, margin money, earnest money, and court attached or ordered deposits.
- Fixed Short Term Deposit: This is for fixed deposits of 6 months where interest is calculated based on complete or incomplete months for 365 days in a year.
- The account can be applied by all eligible individuals.
- Minimum investment amount is 1 lakh for short deposit, ₹10,000 for fixed deposit in Metro and Urban branches and ₹5000 in rural, semi urban branches and for senior citizens.
- For tenure of 7 to 14 days the minimum deposit will be ₹1 lakh.
- Withdrawal is not applicable to subsidies kept under Govt sponsored schemes, margin money, earnest money, and court attached or ordered deposits.
- Star Motor Accidental Claimant Annuity Deposit (BOI MACAD): This scheme supports claims from motor accidents, involving a one-time deposit decided by courts.
- Individuals and minors are eligible to open this account.
- Minimum deposit annuity is ₹1000.
- The tenure ranges from 36 to 120 months.
- No loan facility or advance is allowed for this deposit.
- Capital Gains Account Scheme: Established in 1988, the Capital Gain Accounts Scheme (CGAS) serves as a beneficial tool for taxpayers aiming to defer capital gains taxes, as specified in Section 54 of the Income Tax Act, 1961.
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Frequently Asked Questions
The Bank of India FD rate ranges from 3.00% to 7.25%
Yes, Bank of India fixed deposit offers premature withdrawal facilities.
The highest interest rate offered on BOI FD is 7.25%
The minimum tenure is 7 days and the maximum tenure is 10 years.
The highest interest rate on Bank of India 1 year FD scheme is 6.50%
Bank of India FD rate for 5 years is 6.00%
For an FD to double it will take approximately 10 years, however, it will also depend on the tenure and interest rate that you choose.
The minimum deposit amount of the BOI FD is ₹10,000 for urban and metro areas and ₹5000 for semi urban, rural and for senior citizens.
The Bank of India senior citizen FD rate ranges from 3.00% to 7.75% p.a.
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