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    Steps to apply for Bank of India Fixed Deposit

    Bank of India was incorporated in 1906 and provides a wide range of banking and financial services across all branches in the country. They offer many types of fixed deposit (FD) options that comes with flexible tenure ranges, different interest payout options and attractive interest rates. To open an FD with Bank of India one can log on to the internet banking portal or visit the nearest branch of the bank. Some of the FD options available with Bank of India are fixed or short-term deposits, quarterly or monthly term deposits and double term deposits.

    Stepwise Process to Apply For Bank of India Fixed Deposit Online

    Step 1: Visit the Bank of India website and login to the internet banking portal by providing username and password

    Step 2: Go to the ‘Fixed Deposit’ tab

    Step 3: Fill in all relevant details

    Step 4: Verify the details and click confirm

    Step 5: A confirmation message will be displayed on screen

    Stepwise Process To Apply For Bank Of India Fixed Deposit Offline

    Step 1: Make a visit to the concerned Bank of India branch

    Step 2: Ask for a FD application form and fill it with all relevant details

    Step 3: Make all document submissions

    Step 4: Deposit the money

    Step 5: Collect the FD receipt

    Eligibility

    • Any individual can open an FD in his/her capacity as long as the minimum fund criteria is met
    • Minors are also eligible to open an FD along with an adult who can act as a legal guardian

    Documents Required for Bank of India Fixed Deposit

    Identity proof:

    • Passport
    • Aadhaar card
    • PAN card
    • Voter ID card
    • Driving licence
    • Government ID card
    • Photo ration card
    • Senior citizen ID card

    Address proof:

    • Passport
    • Telephone bill
    • Electricity bill
    • Bank Statement with Cheque
    • Certificate/ ID card issued by Post office

    FAQs

    1. How can a new customer who does not hold an account apply for an FD online?

      Only existing customers can purchase an FD online through their existing bank account through internet banking. New/prospective customers who are opening an FD for the first time will have to visit the bank and then request for an internet banking username and password.

    2. Is PAN card a must to apply for a Bank of India FD?

      Yes.

    3. What will happen if an FD is booked without furnishing PAN details?

      In such a case:

      • TDS exemption forms will be declared void
      • TDS will de deducted at a penalty rate of 20%
      • TDS credit cannot be availed
      • TDS certificate might not be issued
    4. Are there any charges for opening an FD?

      No.

    5. Is it possible to close an FD account online?

      One can close an FD online through internet or mobile banking without any hassle. This can also be done in case of premature withdrawals.

    6. What are the compulsory documents that a customer has to furnish at any cost for an FD?

      It is mandatory to provide PAN, mobile number and Aadhaar card details, without which an FD cannot be opened.

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