Bank of India has revised fixed deposit interest rates for amounts below Rs 2 crore and it has introduced new special fixed deposit with higher returns. The revised rates are effective from June 1, 2024.
666 days – Fixed deposit with high return
Under the special deposit, general citizens will earn 7.30 percent senior citizen will get 7.80 percent and 7.95 percent for super Senior Citizens for deposits will Rs 2 crore 666 days.
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Latest FD interest rates
After the revision, the bank offers interest rates between 3 percent and 7.3 percent for tenures ranging from 7 days to 10 years doe general citizens. The new rates are effective from June 1, 2024.
For deposits maturing between 7 and 45 days, the bank pays a 3 percent interest rate to regular citizens. Deposits maturing between 46 and 179 days will earn 4.50 percent interest. On deposits maturing between 180 and 269 days, the bank gives a 5.50 percent interest rate. On deposits maturing between 270 days and less than one year, the bank offers an interest rate of 5.75 percent.
Deposits having a one year to less than less than 2 Years (except 666 Days) will now earn 6.80 percent. The bank offers the highest interest rate of 7.30 percent on 666 days tenure. It provides a 6.75 percent interest rate on fixed deposit terms ranging above 2 Years to less than 3 Years. The bank offers a 6.50 percent interest rate on FDs on 3 Years to less than 5 Years tenure. The bank offers 6 percent on terms between 5 to 10 years.
| REVISED W.E.F 01.06.2024 | |
| 7 days to 14 days | 3 |
| 15 days to 30 days | 3 |
| 31 days to 45 days | 3 |
| 46 days to 90 days | 4.5 |
| 91 days to 179 days | 4.5 |
| 180 days to 210 days | 5.5 |
| 211 days to 269 days | 5.5 |
| 270 days to less than 1 year | 5.75 |
| 1 Year | 6.8 |
| Above 1 Year to less than 2 Years (except 666 Days) | 6.8 |
| 666 Days | 7.3 |
| 2 Years | 6.8 |
| Above 2 Years to less than 3 Years | 6.75 |
| 3 Years to less than 5 Years | 6.5 |
| 5 Years to less than 8 Years | 6 |
| 8 years & above to 10 Years | 6 |
Senior citizens FD rates
According to the Bank of India website, “Senior Citizen are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.50% ROI on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of 3 years & above and up to 10 years. In such cases effective eligibility of additional ROI will be 0.75% p.a.
| #REVISED RATES FOR SENIOR CITIZENS W.E.F 01.06.2024 | |
| 07 days to 14 days | 3 |
| 15 days to 30 days | 3 |
| 31 days to 45 days | 3 |
| 46 days to 90 days | 4.5 |
| 91 days to 179 days | 4.5 |
| 180 days to 210 days | 6 |
| 211 days to 269 days | 6 |
| 270 days to less than 1 Year | 6.25 |
| 1 Year | 7.3 |
| Above 1 Year to less than 2 Years (except 666 Days) | 7.3 |
| 666 days | 7.8 |
| 2 Years | 7.3 |
| Above 2 Years to less than 3 Years | 7.25 |
| 3 Years to less than 5 Years | 7.25 |
| 5 Years to less than 8 Years | 6.75 |
| 8 years & above to 10 Years | 6.75 |
“Super Senior Citizen are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.65% ROI on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of 3 years & above and up to 10 years. In such cases effective eligibility of additional ROI will be 0.90% p.a.”
