Bank of India is offering 8.10% on term Fixed Deposit: check revised rates

Lender raises extra interest rate for deposits made by senior citizens and super senior citizens

Don't want to miss the best from Business Standard?

Bank of India has revised the interest rates for its short-term and medium-term fixed deposits. Effective August 1, these changes aim to provide more attractive returns for depositors, particularly senior citizens.

 

The bank is providing the highest interest rate of 8.10 per cent per annum on its 666 Days Fixed Deposit specifically designed for Super Senior Citizens under the Non-Callable Deposit scheme.

 

The new rates are applicable to fixed deposits with tenures ranging from 180 days to less than one year. The interest rate for deposits less than Rs 3 crore has been increased to 6 per cent per annum for tenures between 180 days to less than one year.

 

For deposits ranging Rs 3 crore to less than Rs 10 crore, Bank of India will have different rates:

 

180 days to 210 days: 6.50 per cent per annum.

 

211 days to less than 1 year: 6.75 per cent p.a.

 

Bank of India said it has preferential interest rates for senior citizens. An additional interest rate of 0.65 per cent is available for super senior citizens, while senior citizens enjoy an additional 0.50 per cent on deposits below Rs 3 crore for fixed deposits with a maturity period of six months and above.

 

The bank has also maintained its popular ‘666 Days - Fixed Deposit’ scheme. The interest rates for this scheme are:

 

General public: 7.30 per cent p.a.

 

Senior citizens: 7.80 per cent p.a.

 

Super senior citizens: 7.95 per cent p.a.

 

Check full list of revised rate of interest

 

 

 

Bank of India offers loan facilities against fixed deposits and allows premature withdrawals, ensuring liquidity and financial flexibility for its customers.

 

Depositors can open these revised fixed deposit schemes by visiting any Bank of India branch or through the BOI Omni Neo App and internet banking platform.