Bank of India Fixed offers a variety of fixed deposit schemes that offer benefits at better interest rates. These schemes provide facilities like pre-matured FD withdrawal, loan in lieu of FD (FD), overdraft etc. The following is more information on FD (FD) rates of Bank of India.
Bank of India’s fixed deposit interest rate of 2021
2 crores The Domestic Deposit
| Bank of India FD ( FD) Fixed Deposit Rates (% per annum) | ||
| Period | Ordinary citizen | senior citizen |
| 7 days to 14 days | 4.25% * | 4.25% |
| 15 days to 30 days | 4.25% | 4.25% |
| 31 days to 45 days | 4.25% | 4.25% |
| 46 days to 90 days | 5.50% | 5.50% |
| 91 to 179 days | 5.50% | 5.50% |
| 180 days to 269 days | 6.00% | 6.50% |
| 270 days to less than 1 year | 6.00% | 6.50% |
| Over 1 year and under 2 years | 6.30% | 6.80% |
| 2 years and below 3 years | 6.25% | 6.75% |
| 3 years and below 5 years | 6.25% | 6.75% |
| 5 years and below 8 years | 6.25% | 6.75% |
| 8 years and above 10 years | 6.25% | 6.75% |
FD (FD) rates for domestic bulk deposits (more than Rs 2 crore, less than Rs 10 crore)
| Bank of India FD ( FD) rates (% per annum) | |
| Period | For common people |
| 7 days to 14 days | 4.25% |
| 15 days to 30 days | 4.25% |
| 31 days to 45 days | 4.25% |
| 46 days to 90 days | 4.85% |
| 91 to 179 days | 4.90% |
| 180 days to 269 days | 5.30% |
| 270 days to less than 1 year | 5.30% |
| Over 1 year and under 2 years | 5.50% |
| 2 years and below 3 years | 5.60% |
| 3 years and below 5 years | 5.50% |
| 5 years and below 8 years | 5.50% |
| 8 years and above 10 years | 5.50% |
FD ( FD) rates for tax saving deposits
| Period | For ordinary citizens | For seniors |
| 5 years and below 8 years | 6.25% | 6.75% |
Bank of India’s Fixed Deposit Interest Rates (Domestic Deposit – Term Wise)
7 days 45 for domestic deposits that mature in days , the Bank FD ( FD) rates, currently at 4.25% fixed
The rate for deposits maturing in 46 – 179 days is 5.50% while for a period of less than 1 year to 180 days, the rate is 6% per annum.
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Bank of India offers a rate of 6.30% on FDs ( FDs) of less than 1 year to 2 years, which is currently the maximum rate offered by the bank.
FD ( FD) rates for the remaining period ( 2 – 10 years) are fixed at 6.25% for now
Senior citizens are given an additional 0.5% benefit on the Bank of India FD ( FD) interest rates
Bank of India NRI FD Rates 2021
For NRI ( NRI) , Bank of India offers 4 different types of schemes providing guaranteed returns .
NRO ( Non Resident Ordinary) FD ( FD) Account
NRI ( Non Resident External) FD ( FD) Account
FCNR ( Foreign Currency Non-Repatriable) FD ( FD) Account
RFC ( Resident Foreign Currency) FD ( FD) Account
Following are the current Indian bank FD ( FD) interest rates for NRIs :
NRI ( Non-Resident Indian) Fixed Deposit Interest Rates
| Maturity | For deposits of less than Rs 2 crores | 2 crores to 10 crores rupees |
| 1 year and above but less than 2 years | 6.30% | 5.50% |
| 2 years and above but less than 3 years | 6.25% | 5.60% |
| 3 years to less than 5 years | 6.25% | 5.50% |
| 5 years and below 8 years | 6.25% | 5.50% |
| 8 years and above 10 years | 6.25% | 5.50% |
NRO FD ( FD) Rates
NRO or Non-Resident Ordinary Fixed Deposit , NRI is designed to provide FD ( FD) option where they can keep their Indian earnings as savings and earn assured returns thereon. Interest earned on such FD ( FD) is taxable in India. But it can be withdrawn only in INR ( Indian Rupees).
| Period | FD ( FD) rates for deposits below Rs 2 crore |
| 7 days to 14 days | 4.25% |
| 15 days to 30 days | 4.25% |
| 30 days to 45 days | 4.25% |
| 46 days to 90 days | 5.50% |
| 91 to 179 days | 5.50% |
| 180 days to 269 days | 6.00% |
| 270 days to less than 1 year | 6.00% |
| Over 1 year and under 2 years | 6.30% |
| 2 years and below 3 years | 6.25% |
| 3 years and below 5 years | 6.25% |
| 5 years and below 8 years | 6.25% |
| 8 years and above 10 years | 6.25% |
FCNR Fixed Deposit Interest Rates
The FCNR or Foreign Currency Non-Resident Fixed Deposit Account is only for NRIs to secure their foreign savings by earning assured returns thereon. In addition , FCNR deposits are maintained in foreign currency and thus are not exposed to foreign currency risks. Interest earned from this is not taxed in India and can be transferred abroad after maturity.
RFC FD Interest Rates
The RFC FD ( Resident Foreign Currency FD) scheme is for residents or Indians returning from abroad who have foreign savings and do not want to change it. In this scheme, they can invest in RFC FD without obtaining guaranteed interest . It protects funds from foreign exchange related risks. Interest received in this will be taxed.
| Period | Rates for USD Deposit | Rates for GBP |
| 1 year to less than 2 years | 2.59% | 1.28% |
| 2 years to less than 3 years | 2.20% | 1.19% |
| 3 years | 2.40% | 1.18% |
Features of Bank of India Fixed Deposit
The minimum deposit in the metro and urban branches of BOI is Rs 10,000 . 5,000 in rural and semi-urban branches of the bank . However , senior citizens under this scheme have a minimum of Rs 5,000 . Can be deposited and there is no limit on the maximum deposit amount
The minimum duration of FD scheme is 7 days and maximum 10 years.
Interest is compounded on a quarterly (three months) basis and is paid as per the applicable interest rates (at the time of booking).
Children deposits are also available which are Rs 2 crore. The 10 is Rs crore
10 crores Booking of more than can be done but related information about it is available in the branch itself.
Benefits of Bank of India Fixed Deposit
Investors can opt for premature withdrawal on payment of nominal penalty as per requirement
According to Section 80C of IT Act 1961 , a tax exemption of up to 1.5 lakh can be claimed, this benefit is available at a lock-in period of 5 years.
If selected for the monthly payments , will be subsidized interest payments or actual rates will apply
