Bank of India has changed the FD interest rates. Also launched the new “Monsoon Deposit” scheme. The bank is offering interest ranging from 3% to 7.5% on FDs ranging from 7 days to 10 years.
Bank FD: Public sector Bank of India (BOI) has launched a monsoon special FD scheme named “Monsoon Deposit”. Along with this, the bank has also changed the interest rates on FDs of less than Rs 2 crore. The interest rate for senior citizens is higher than that of general citizens. The new rates have come into effect.
Monsoon Deposit Interest Rates
7.25 percent interest is being received on Monsoon Deposit. The interest rate for senior citizens is 7.75%. This FD scheme matures in 400 days.
Reduced rate of interest for a period of 1 year
Bank of India is offering interest ranging from 3% to 7.5% on FDs ranging from 7 days to 10 years. Whereas senior citizens are getting 3% to 7.75% interest. Apart from this, the bank has reduced the interest rate on 1 year tenure from 7% to 6%.
Here are the new rates
Common citizens are getting 6.75% and senior citizens 7.25% interest on FDs ranging from 2 years to less than 3 years. Equal interest is also available on tenures ranging from 3 years to less than 5 years. The interest rate on FDs ranging from 5 years to less than 8 years is 6% for common citizens and 6.75% for senior citizens. Same interest is being received on FDs ranging from 8 years to more than 10 years.
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