BOI FD Interest Rates

BOI FD Interest Rates Today – Nov 18, 2024

Bank of India (BOI) offers fixed deposit interest rates ranging from 3.00% to 7.25% annually for the general public and 3.00% to 7.75% annually for senior citizens, with tenure periods spanning from 7 days to 10 years. BOI Tax Saving FDs provide an interest rate of 6.50% annually for the general public and 7.00% annually for senior citizen depositors.

Features of BOI FD Interest Rates

Feature	Description
Interest Rates (%p.a.)	3.00% – 7.25%
Minimum Deposit	Rs. 10000
Period	7 Days – 10 Years
Senior Citizen (Age 60 Year and upto < 80 Year)	Extra 0.5% p.a.
Super Senior Citizen (Age 80 Year and above)	Extra 0.15% p.a. from Senior Citizen
Compounding	Quarterly
Calculate FD Returns	BOI FD Calculator

Bank of India FD Interest Rates [Below Rs.2 Crore]

All interest rates shown below are annual (% p.a.) with effect from 1 November 2023.

Period	General Public	Senior Citizens	Super Senior Citizens
7 days to 14 days	3.00	3.00	3.00
15 days to 30 days	3.00	3.00	3.00
31 days to 45 days	3.00	3.00	3.00
46 days to 90 days	4.50	4.50	4.50
91 days to 179 days (except 175 days)	4.50	4.50	4.50
175 days	4.50	4.50	4.50
180 days to 210 days	5.50	6.00	6.15
211 days to 269 days	5.50	6.00	6.15
270 days to less than 1 year	5.75	6.25	6.40
1 year	6.50	7.00	7.15
Above 1 year to less than 2 years	6.50	7.00	7.15
2 years [Highest]	7.25	7.75	7.90
Above 2 years to less than 3 years	6.75	7.25	7.40
3 years to less than 5 years	6.50	7.25	7.40
5 years to less than 8 years	6.00	6.75	6.90
8 years to 10 years	6.00	6.75	6.90

Bank of India FD Interest Rates [Rs. 2 Crore To 10 Crore]

All interest rates shown below are annual (% p.a.) with effect from 1 January 2024.

Period	General Public
7 days to 14 days	4.50
15 days to 30 days	4.50
31 days to 45 days	4.50
46 days to 90 days	5.25
91 days to 179 days (except 175 days)	6.00
175 days [Highest]	7.50
180 days to 210 days	6.25
211 days to 269 days	6.50
270 days to less than 1 year	6.50
1 year	7.25
Above 1 year to less than 2 years	6.75
2 years	6.50
2 years to less than 3 years	6.50
3 years to less than 5 years	6.00
5 years to less than 8 years	6.00
8 years to 10 years	6.00

Bank of India TAX Saver Fixed Deposit

Bank of India offers Tax Saver Deposit under the Star Sunidhi Tax-Saving Deposit Scheme with a minimum deposit of Rs.10,000/- and a maximum deposit of Rs.1,50,000/- annually.

Period	General Public	Senior Citizens	Super Senior Citizens
5 years to less than 8 years	6.00	6.75	6.90
8 years to 10 years	6.00	6.75	6.90

About Bank of India (BOI)

Bank of India (BOI) is one of the oldest and prominent banks in India. Founded on September 7, 1906, by a group of eminent businessmen from Mumbai, BOI initially operated as a privately-owned institution. It transitioned into public ownership in July 1969 when it was nationalized along with 13 other banks.

From its modest beginnings with one office in Mumbai, a paid-up capital of Rs.50 lakh, and a workforce of 50 employees, Bank of India has undergone remarkable growth over the years. Evolving into a formidable institution, it has established a robust national presence and expanded its operations on an international scale.

In terms of business volume, Bank of India holds a premier position among the nationalized banks. The bank’s commitment to excellence and customer service has propelled its rapid growth and development.

Benefits of BOI Fixed Deposit

Investing in BOI Fixed Deposits comes with several advantages:

• Stable Returns: BOI Fixed Deposits provide a secure investment option, ensuring stable and predictable returns for conservative investors.
• Flexible Tenure Options: Investors can choose from a range of tenure options based on their financial goals, spanning from short-term to long-term deposits.
• Competitive Interest Rates: BOI offers competitive interest rates on fixed deposits, ensuring investors receive satisfactory returns on their investments.
• Safety and Security: As a government-owned bank, BOI Fixed Deposits are considered safe and secure, providing investors with a sense of financial stability.
• Loan Against Fixed Deposit: BOI allows customers to avail loans against their fixed deposits, providing a convenient and quick financing option without prematurely breaking the deposit.

Popular BOI Fixed Deposit Schemes

1. BOI Star Monthly Income Fixed Deposit: Steady monthly payouts, ideal for regular income needs. (1-5 years)
2. BOI Star Quarterly Income Fixed Deposit: Similar to monthly, but interest paid every 3 months. (1-5 years)
3. BOI Star Double Benefit Term Deposit: Combines interest with maturity bonus for long-term growth. (5-10 years)
4. BOI Star Sunidhi Tax Saving Deposit Scheme: Save for the future, enjoy tax benefits (Section 80C), locked for 5 years.

How to do BOI Fixed Deposit

Opening a BOI FD is easy and convenient through various channels:

Visit your nearest BOI branch

• Head to the nearest Bank of India branch.
• Speak to a bank representative who will guide you through the fixed deposit options and assist you in completing the application process.
• Ensure you have the necessary documents, including identity proof, address proof, and PAN card.

Online Banking

• If you have an existing BOI account, you can open a Fixed Deposit online through the bank’s secure online portal.
• Log in to your internet banking account on the official BOI website.
• Look for the option to open a Fixed Deposit and follow the online instructions.
• Provide the required details, such as deposit amount, tenure, and nominee information.
• Confirm the terms and conditions before submitting your application.

Mobile Banking

• Utilize BOI’s mobile app to conveniently open Fixed Deposits from your smartphone.
• Download and install the Bank of India mobile app from the respective app store.
• Log in to the app using your credentials.
• Navigate to the Fixed Deposit section and follow the prompts to open a new FD.
• Input the necessary details, including deposit amount, tenure, and nominee information.
• Verify the information and submit your application through the mobile app.

Important Tips:

• Ensure you have all required documents, including KYC (Know Your Customer) details, to facilitate a smooth application process.
• Double-check the terms and conditions of the Fixed Deposit scheme you choose, including interest rates and maturity details.
• Keep a copy of the Fixed Deposit receipt (FDR) for your records.
• If applying online or through mobile banking, use secure and trusted internet connections to protect your personal information.

By following these steps through your preferred channel, you can easily open a Bank of India Fixed Deposit, enjoying the benefits of a secure and rewarding investment.

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