Bank of India Revises Interest Rates On FD, Check New Rates Here

Bank of India (BoI), a public sector lender, has adjusted interest rates on fixed deposits (FDs) of less than Rs 2 crore, with effect from June 1, 2021. The bank provides FDs with terms ranging from seven to ten years. Following the most recent modification, BoI now provides a 3.00 per cent annual interest rate on deposits maturing in 7 to 45 days. BoI pays 4.00 per cent interest on deposits maturing in 46 to 90 days. Bank of India offers interest rates of 4% and 4.5 per cent for terms of 91 days to 179 days and 180 days to 269 days, respectively. On deposits maturing in 270 days to less than a year, the bank pays a 4.50 per cent interest rate. Bank of India pays 5.25 per cent interest on FDs that mature in one to two years. BoI pays 5.30 per cent interest on term deposits with a maturity period of two years and up to ten years. Senior citizens will continue to get a 0.50 per cent higher interest rate than the general public on deposits of up to Rs.2 crore maturing in 6 months or more than 10 years.

Bank of India FD Rates (Below Rs 2 Cr)

Tenure	Regular FD Rates	Senior Citizen FD Rates
7 days to 14 days	3.00%	3.50%
15 days to 30 days	3.00%	3.50%
31 days to 45 days	3.00%	3.50%
46 days to 90 days	4.00%	4.50%
91 days to 179 days	4.00%	4.50%
180 days to 269 days	4.50%	5.00%
270 days to less than 1 year	4.50%	5.00%
1 Year & above but less than 2 Yrs	5.25%	5.75%
2 years & above to less than 3 years	5.30%	5.80%
3 years & above to less than 5 years	5.30%	5.80%
5 years & above to less than 8 years	5.30%	5.80%
8 years & above to 10 years	5.30%	5.80%
Source: Bank of India, W.e.f. 1 June 2021