Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    Bank of India Fixed Deposit Rates
     and 2 other FDs
    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.2% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.7% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Bank of India Fixed Deposit Rates is Rated as "Excellent!" by 33 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Bank of India Fixed Deposit Rates

    Bank of India (BoI) is a well-renowned bank that offers various attractive Fixed Deposit (FD) schemes. The bank offers short-term, medium-term and long-term FDs. BoI gives customers multiple choices to put aside a certain sum of money into an FD. The bank offers competitive interest rates and various other benefits such as loan/overdraft facility, nomination facility, etc.

    Bank of India FD rates

    Tenure Regular FD Interest Rates Senior Citizen FD Interest Rates
    7 days to 14 days 4.00% 4.00%
    15 days to 30 days 4.25% 4.25%
    31 days to 45 days 4.25% 4.25%
    46 days to 90 days 5.75% 5.75%
    91 days to 120 days 6.00% 6.50%
    121 days to 179 days 6.00% 6.50%
    180 days to 364 days 6.25% 6.75%
    1 year to 1 year 364 days 6.70% 7.20%
    2 years to 2 years 364 days 6.50% 7.00%
    3 years to 10 years 6.50% 7.00%

    *Please note that interest rates are subject to change based on the discretion of the bank without any prior notice. The rates mentioned are for deposits below Rs.1 crore.

    BOI short-term FD rates

    BOI offers customers a wide range of short-term FD options that range from a minimum of 7 days to 180 days, to less than 1 year. The interest rate offered for this time period ranges from 4% to 6.25%. The highest rate of interest offered in this tenure range is 6.25%, offered for a time period of 10 days to 364 days. Short-term deposits offer the customer more flexibility in terms of the time period for which the deposit needs to be held on. The lock-in period is much lesser and this is what many consumers are looking for.

    BOI medium-term FD rates

    There are a wide range of medium-term deposits offered by BOI. The tenure options offered in these type of FDs range from 1 year to less than 2 years. The highest rate of interest that is offered in this slab is 6.7% for deposits that are held for a time period ranging from 1 year to 1 year and 364 days. The interest range in this time period ranges from 6.5% to 6.7%.

    BOI long-term FD rates

    BOI also offers long-term deposits with a tenure that ranges from 3 to 10 years. The interest range offered in this slab is 6.5%. These type of deposits offers customers the opportunity to put away a certain set sum of money for long-term financial benefits. These are ideal to create a savings pool in the future.

    BOI senior citizen FD rates

    The interest rates offered to senior citizens are much higher when compared to normal individual rates. Senior citizens can take the benefit of this and make investment in the various FD schemes offered by the bank. Senior citizens can invest in short-term deposits, medium-term deposits or long-term deposits. The interest range for senior citizen deposits range from 4% to 7%. The highest rate of interest offered is 7.20% for deposits that are held for a period ranging from 1 year to 1 year and 364 days. The second highest rate of interest is offered for deposits that are held from 2 years to 10 years, where the annual interest yield is 7%.

    FD schemes offered by Bank of India

    • Double Benefit Term Deposit
    • Fixed/Short Deposit
    • Quarterly Deposit
    • Monthly Deposit
    • Star Sunidhi Tax-Saving Deposit Scheme

    Double Benefit Term Deposit: This is a type of BoI FD that offers a higher rate of return on the investment amount/principal after the set maturity period. The interest in this type of deposit is calculated and compounded on a quarterly basis. However, please note that the principal and the interest that is accrued will be paid to the deposit holder only at the time of maturity even though the interest is compounded on a quarterly basis.

    This type of term deposit is advisable for people who want to make short or medium-term investments that are held for a period of 12 to 120 months.

    Fixed/Short term Deposit: These type of term deposits can be held for a period less than 12 months. Here, the interest will be calculated for the number of months the deposit is held. In case of incomplete months, the number of days for which the deposit is held will be taken into account. Many of the short-term deposits are eligible for repayment within 6 months. The bank advises customers to maintain a savings bank account with them so that it becomes easier to pay interest on FDs.

    Quarterly Deposit: A quarterly deposit FD is a type of term deposit where the interest is paid to the customer every quarter. This way, the depositor can earn income in the form of interest at specific time intervals during the year. The interest that is earned through this deposit will be credited to the savings account of the customer every quarter, without fail. The minimum investment that needs to be made for this type of account is Rs.10,000 in metro branches and urban branches, and Rs.5,000 in rural and semi-urban branches . The minimum investment amount for senior citizens is Rs.5,000.

    Monthly Deposit: Monthly deposit FDs pays the customer interest each month. This is a great way for the customer to earn income in the form of interest on a regular basis. The money earned will be credited to the customer’s account as per the instructions provided by the account holder.

    Star Sunidhi Tax-Saving Deposit Scheme: This is type of term deposit scheme that comes with tax benefits. The minimum investment that needs to be made under this scheme is Rs.10,000, while the maximum is Rs.1,50,000. The main point to remember is that, in this type of FD, one cannot make a premature withdrawal before the completion of 5 years. Account holders will be eligible for tax benefits under Section 80C of the Income Tax Act. The minimum period of investment is 5 years, while the maximum period is 10 years.

    Key Information before Opening a Fixed Deposit

    Eligibility Criteria to open BOI FD
    • Individuals, residents of India
    • Joint account holders
    • Hindu Undivided Families
    • Partnership firms
    • Private and Public limited firms
    • Trusts
    • Partnership firms
    • Illiterate persons
    • Blind persons
    • Municipalities
    • Panchayats
    • Educational Institutions
    • Charitable Institutions
    • Sole Proprietary concerns
    Documents Required
    • Identity proof & Address proof as per KYC Norms
    • PAN Card copy/ Form 60 or 61
    • Aadhaar Card Details
      Benefits of a BOI FD
    • Loan/overdraft facility
    • Nomination facility
    • Tax saver FD
    • Flexible tenure ranges
    • Various FD schemes
    • Competitive interest rates

    Factors affecting BOI interest rates

    Interest rates do not remain the same and change from time to time due to various reasons. Let us understand some of the reasons.

    RBI rules and regulations: The rules and guidelines of RBI change from time to time and this have an effect on the interest rates offered by banks. The cash reserve ratio and the repo rate plays a huge role in determining the interest rates offered by banks in India.

    Inflation: The rate of inflation the the economy plays a very important role in determining the interest rates offered on FDs. There are chances that inflation may deflate the interest rates offered on FD but this may vary from time to time, depending upon how the economy is doing.

    Recession: When there is a recession in the economy, it is natural for interest rates to fluctuate and take the downward trend. During the time of recession, the RBI will have release funds into the economy and this can only be done by bringing down the interest rates.

    BOI FD Interest Calculator

    It is very easy to calculate the maturity value of an FD using the FD calculator. This value of the FD is calculated depending upon the principal value and the rate of interest. Let us take a look at the various parameters involved in this process.

    • Deposit amount
    • Interest rate
    • Period of deposit
    • Compounding frequency of interest
    Minimum and Maximum Bank of India fd interest rates 2017 for Regular and Senior Citizen
    Bank of India FD Rates

    FAQs for BOI Fixed Deposit

    1. What is the highest interest rate offered on BOI FDs?

      The highest rate of interest offered at present is 6.7%. The interest rates offered by the bank are subject to change without prior notice, so, changes are likely.

    2. What is the minimum and maximum tenure range?

      The minimum tenure is 7 days while the maximum tenure is 10 years.

    3. Can I apply for a BOI FD online?

      Yes. If you already have a BOI savings account and an active internet banking ID and password, this can be done by following a few simple steps.

    4. Does BOI offer extra benefits for senior citizens?

      All senior citizens are eligible for higher interest rates when it comes to BOI FDs.

    5. Is it possible to deposit an additional sum of money into my FD at any point of time?

      No. Unfortunately it is not possible to deposit any sort of additional amount in an already existing FD account.

    6. Can a customer change the tenure of the FD after opening the same?

      It is not possible to change the tenure once an FD is opened. However, once the maturity period is completed, deposits can be renewed. A customer will have to wait till the maturity period to make any changes to the tenure.

    7. Is PAN mandatory to open an FD account? What are the consequences of not providing PAN card details?

      PAN card is absolutely mandatory to open an FD account. If a customer fails to provide PAN card details, the following will be the consequences:

      • A higher rate of TDS will be deducted, which will be at 20%, instead of 10%
      • The Income Tax department will not give the customer any TDS credit or issue a TDS certificate
      • Certain forms like 15G/H and other kind of tax exemption certificates will become invalid
    8. Is it possible to avail loan/overdraft facility against an FD?

      A loan of upto 90% can be availed against a BOI FD.

    9. What will be the tenure of the loan if it is availed against an FD?

      The tenure of the loan will be the same as the tenure of the loan.

    10. Can a customer who does not have an account with BOI open an FD online?

      No. Unfortunately only existing customers will be able to open an FD account online. New customers will have to visit a BOI branch and then request for online banking services.

    11. Does BOI offer FD schemes for NRIs? If yes, what are the schemes?

      BOI offers various FD schemes especially for NRIs, namely NRE term deposits and NRO term deposits.

    News About Bank of India Fixed Deposit

    • Bank of India Fixed Deposit Rates

      Post the repo rate cut by the Reserve Bank of India, the interest rates for term deposits across banks in India have seen deductions. As per the RBI’s directive Bank of India has changed its rates on fixed deposit for only a few of its deposit tenures for amounts below INR 1 crore.

      The revised interest rates for Bank of India’s domestic and NRO term deposits are effective from December 28, 2015. This interest rate applicable for deposit tenures of 15 to 30 days and 31 to 45 days for deposits below INR 1 crore is 4.25%. Deposits having 91 to 120 days and 121 to 179 days as tenure are charged at 6.75%. Interest rates for term deposits 270 days to less than 1 year; 1 year & above to less than 2 years; 2 years & above to less than 3 years; and 3 years % above to less than 5 years is the same and charged at 7.30%.

      31st December, 2015

    • Bank of India Fixed Deposit Rates Reduced

      Repo rate cuts by the Reserve Bank of India have impacted the base rates of all Indian banks. Along the same lines, interest rates of deposits as well as loans have decreased for Bank of India. Compared to savings accounts, fixed deposits have encountered more aggressive reductions for Bank of India.

      As of November 2015, the lowest interest rate offered on fixed deposits is at 4% per annum for periods ranging from 1 to 2 weeks. The next whole figure of interest rate is 7% per annum for periods of 91 days to 179 days. There is a marginal increase of 0.25% for the next deposit period slab of 180 to 269 days. Post that, the highest interest rate offered by Bank of India is capped at 7.75% per annum for periods ranging from 270 days to less than 2 years. Deposits made for 5 years of more earn an interest of 7.25% per annum.

      3rd November, 2015

    • Changes in Fixed Deposit Rates for Bank of India

      Mumbai based government-owned Bank of India has joined the league of other banks in changing rates on fixed deposits over various tenures. The recently imposed rate cuts from the Reserve Bank of India has been passed on to the bank’s customers. The changes have been reflected in the rates of term deposits as well.

      For fixed deposits of amounts low than Rs. 1 crore, the tenures from 270 days till 5 years have seen rate changes in two brackets, with the lowest rate being 8% and the highest being 8.25%. For deposits of Rs. 1-10 crores, the higher tenure ranges of 270 days to above 10 years, the highest rate available is 8% and the lowest is 7.5%. For deposits of Rs. 10 crores and more, another tenure bracket has been imposed, of 364 days to 13 months having a interest rate of 7.6%. HUF, Capital Gain Scheme and NRE/NRO Deposits will not be getting any additional rates in case of staff or senior citizen status.

      For Domestic/NRO Term Deposits, the highest rate is 8.25% and the lowest is 8% for deposits of low than a crore across tenure ranges from 270 days to 5 years. For deposits of more than a crore but low than ten crores, the tenure of 270 days-1 year will have an interest rate of 7.5% and it would also be the same for the tenures of 5 years and above. For deposits more than 10 crores, a high of 7.6% and a low of 7.5% rates are available for tenures of 270 days-2 years.

      17th August 2015

    Bank of India Fixed Deposit Reviews

    • Bank of India Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      Definitely good. But they provide very low interest rate on FD. Interest rate is 7.3%. Staffs behave well and well trained. You can get better interest rate at other banks, almost 1% high interest rate. Now a days lots of ATM from BOI is available.
      Was this review helpful? 14
      , kolkata
      Reviewed on Oct 18, 2016
    • Bank of India Fixed Deposit
      "satisfied..."
      0.5 4.5/5 "Excellent!"
      Against this fixed deposit the Bank of India had offered me a loan. It is very simple to take loan basis the deposit. No much formalities and no much paper works. By filling a single form we get the loan. Interest rate for the fixed deposit was 8.5%.
      Was this review helpful? 16
      , mumbai
      Reviewed on Jan 30, 2016
    • Bank of India Fixed Deposit
      "Government bank"
      0.5 5.0/5 "Blown Away!"
      BOI is a Government bank and their norms are in line with RBI. The reason why I had chosen BOI is because its a very old bank and its next to my place. My father and mother is holding an account here and that is why I am using this account. I know the BOI staff so I had taken this FD .Interest rate offered by BOI was 8% to 9%
      Was this review helpful? 14
      , agra
      Reviewed on Nov 26, 2015
    • Bank of India Fixed Deposit
      "Good in fixed deposit rate.."
      0.5 4.0/5 "Great!"
      Bank of India is same like other banks in regards to the rate for Fixed deposit. Service is not good like private but product and money will be safe. It is an nationalized bank and that is only good thing about them. All the government banks are low in services.
      Was this review helpful? 9
      , mumbai
      Reviewed on Nov 21, 2015
    • Bank of India Fixed Deposit
      "Relaxing returns"
      0.5 3.0/5 "Satisfactory"
      I had the fixed deposit account with the Bank of India. The rate of interest is okay with them. Customer service is good with them and there are no drawbacks with them. I had it for an year of time like I deposited around 75000 Rupees and I got around a lakh of Rupees as the returns, I am happy with them.
      Was this review helpful? 9
      , coimbatore
      Reviewed on Nov 13, 2015
    • Bank of India Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I had the fixed deposit with the Bank of India and the experience is good with them. Interest rate is common to all, like every bank is giving same rates to the customers. They are having the locker facilities. I been with them from the last 12 years of time. Customer service in the rural areas are not that much okay while in the urban areas they are good.
      Was this review helpful? 5
      , bangalore
      Reviewed on Nov 11, 2015
    • Bank of India Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      BOI Fixed deposit is very good. They are providing the best interest rate , they have provided online banking . This request was placed at the branch and its a cumulative interest rate this FD was withdrawn after 6 days from the date of placing the deposit and there is no charges for the same we can liquidate it when ever we want,.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 11, 2015
    • Bank of India Fixed Deposit
      "Good Bank"
      0.5 3.5/5 "Pretty good"
      I do have the fixed deposit with the Bank of india. I used to visit the branch for some of the thing and the rest of the thing I used to dealt with online banking. The drawback is I have to download the application to do the online banking, which is secure but not user friendly. Customer service is good and the rate of interest is also good. There are no minimum lock in period for this.
      Was this review helpful? 9
      , mumbai
      Reviewed on Oct 22, 2015
    • Bank of India Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have opened my Fixed deposit account with Bank of India. The services are good from them. The response is very good too. The process was not a lengthy one to open this account. It was fast. I been having this account with them for the last ten years. They offer a good rate of interest. There are no charges as such for this account.
      Was this review helpful? 3
      , new delhi
      Reviewed on Oct 13, 2015
    • Bank of India Fixed Deposit
      "Very close "
      0.5 4.0/5 "Great!"
      I hold an Fixed Deposit account with BANK OF INDIA for the last two years. Since the branch is very near to my house I opened this account to me. They have offered me 9.50% interest rate for this. There was no additional or hidden charges to open this account.
      Was this review helpful? 15
      , ghaziabad
      Reviewed on Sep 15, 2015
    • Bank of India Fixed Deposit
      "Its fine"
      0.5 5.0/5 "Blown Away!"
      Bank of India Fixed deposit was okay . I have been holding this FD for 4 years. This FD was opened at the Branch. I have submitted my id cards for opening this FD. This was taken for a period of 10 years. There was no online access for that . Branch is next to my place . They are also ready to provide overdraft based on this account. However I am not ready to accept that
      Was this review helpful? 8
      , coimbatore
      Reviewed on Aug 06, 2015
    • Bank of India Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had a fixed deposit with Bank of India. The services has been good from them. I got a good rate on interest and it was for two years. After maturity the benefits was as expected. The process did not take long after maturity. It could be done online. I did have to visit the bank.
      Was this review helpful? 11
      , mumbai
      Reviewed on Jul 11, 2015
    • Bank of India Fixed Deposit
      "Poor in quality.."
      0.5 4.0/5 "Great!"
      Firstly, I have a savings account with Bank of India and secondly it is a government organization so comparatively safe and thirdly the rate of interest 8.75% is high. I think for senior citizens, the rate is of 9.2%. Certainly the rate is of simple rate and it comes at the time of maturity.
      Was this review helpful? 11
      , new delhi
      Reviewed on Jun 22, 2015
    • Bank of India Fixed Deposit
      "IT IS NICE"
      0.5 3.5/5 "Pretty good"
      Term period that I have opted for Fixed Deposit is 5year and the rate of interest is 8.75%. If we want to break the deposit in between the term, can do it very well but there must be some penalty charges. As per our convenience we can prefer the tenure and at the end of the maturity, I do get the accumulated interest. Bank of India is very good but they lacks in service when we compare with private banks.
      Was this review helpful? 5
      , mumbai
      Reviewed on Jun 16, 2015
    • Bank of India Fixed Deposit
      "review on fixed deposit"
      0.5 3.5/5 "Pretty good"
      Term period that I have opted for Fixed Deposit is 5year and the rate of interest is 8.75%. If we want to break the deposit in between the term, can do it very well but there must be some penalty charges. As per our convenience we can prefer the tenure and at the end of the maturity, I do get the accumulated interest. Bank of India is very good but they lacks in service when we compare with private banks.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Mar 31, 2015
    • Bank of India Fixed Deposit
      "Good interst rate"
      0.5 4.0/5 "Great!"
      Bank of India Fixed deposit is really good. Their online support is not that good and no facility like Whats up. Interest rate offered for the loan is high however the interest rate offered for FD is normal. My father had an account with bank of India, infact this is my first account which prompted me to open this FD with the same Bank.
      Was this review helpful? 8
      , pune
      Reviewed on Mar 26, 2015
    • Bank of India Fixed Deposit
      "for Bank FD "
      0.5 5.0/5 "Blown Away!"
      I operatived for Bank of India Fixed Deposit. I got competitive rate of Interest. They provide very quick services & is beneficial to us. Bank is providing varied types of scheme as requirement of customers. I recommended this bank. I like and trust Bank Of India.
      Was this review helpful? 20
      , ahmedabad
      Reviewed on Feb 03, 2015
    • Bank of India Fixed Deposit
      "Good!!"
      0.5 4.0/5 "Great!"
      Term period that I have opted for Fixed Deposit is 5year and the rate of interest is 8.75%. If we want to break the deposit in between the term, can do it very well but there must be some penalty charges. As per our convenient we can prefer the tenure and at the end of the maturity, I do get the accumulated interest. Bank of India is very good but they lacks in service when we compare with private banks.
      Was this review helpful? 7
      , kolkata
      Reviewed on Feb 02, 2015
    • Bank of India Fixed Deposit
      "Bank of India Fixed Deposit"
      0.5 4.5/5 "Excellent!"
      Mainly for purpose of Tax benefit & security purpose , I opted for Bank of India Fixed Deposit. I got competitive rate of Interest. They provide very quick services & is beneficial to us. Bank is providing varied types of scheme as requirement of customers.
      Was this review helpful? 10
      , mumbai
      Reviewed on Feb 02, 2015
    • Bank of India Fixed Deposit
      ". BANK OF INDIA - BEST FOR FIXED DIPOSITE"
      0.5 5.0/5 "Blown Away!"
      I would say the online banking services was pretty good from bank of india.If we need some information they will keep us atleast 15 minutes if any emergency queries . I suffered most of the times when I went for my fixed deposit queries lot. Till today I am seeing most of the branches was having queue system. It would be better if they improve their customer service bit higher
      Was this review helpful? 8
      , mumbai
      Reviewed on Jan 31, 2015
    Common Loader Icon
     Loading your search... Loading your search...
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.