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    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
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.6% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.72% - 8.65% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Bank of India Fixed Deposit Rates is Rated as "Excellent!" by 35 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.

    Given below are the revised and latest Bank of India fixed deposit interest rates for regular and senior citizens with effect from 11 June, 2018: 

    Tenure Regular Interest Rate (per annum) Senior Citizen Interest rate (per annum)
    7 days to 45 days 5.25% 5.25%
    46 days to 90 days 5.75% 5.75%
    91 days to 179 days 6.00% 6.00%
    180 days to less than 12 months 6.25% 6.75%
    1 year to below 2 years 6.60% 7.10%
    2 years to below 3 years 6.65% 7.15%
    3 years to below 5 years 6.40% 6.90%
    5 years to 10 years 6.35% 6.85%

    *Interest rates are applicable for deposits that are less than Rs.1 crore.

    *The above rates are also applicable for NRO term deposits.

    BOI short-term FD rates

    Minimum and Maximum Bank of India fd interest rates 2018 for Regular and Senior Citizen
    • There are a wide range of maturity buckets as far as short-term deposits are concerned, giving customers a lot of flexibility to choose any tenure range.
    • The interest rate that is paid ranges from 5.25% p.a. to 6.25% p.a.
    • The most lucrative FD rate in this slot is 6.25% p.a., which is paid for a tenure that ranges from 180 days to less than 1 year.
    • Investors stand the chance of earning up to 6.00% p.a. for making an investment for a period that is from 91 days to 179 days.
    • For 7 days to 45 days, the bank rate is 5.25% p.a. and for 46 days to 90 days the rate of interest is 5.75% p.a.

    BOI medium-term FD rates

    • All medium-term maturity buckets will fetch the account holder more than 6.25% p.a.
    • The range at which interest is paid varies from 6.40% p.a. 6.60% p.a.
    • The highest rate of interest rate by Bank of India is 6.65% p.a. for an investment period that is from 2 years to less than 3 years.
    • For 1 year to less than 2 years, the bank pays 6.60% p.a. and for 3 years to less than 5 years the rate paid is 6.40% p.a.

    BOI long-term FD rates

    • All long-term fixed deposits schemes offer a standard interest rate of 6.35% p.a. for all tenures that are from 5 years to 10 years.
    • Under this slot, those seeking tax benefits can invest in the Star Sunidhi Tax-Saving Deposit Scheme that offers tax exemption under Section 80C of the Income Tax Act.
    • The maximum investment period is 10 years in BOI.

    Other key highlights

    Interest payout options Premature Withdrawal NRI deposits Special Schemes
    Monthly & quarterly Available at a penalty rate (refer to details below) NRO, NRE, FCNR, RFC Double Benefit Deposit, Star Sunidhi Tax-Saving Deposit

    Penalties for premature withdrawal are outlined below:

    • No penalty:If an investment is below Rs.5 lakh and is prematurely withdrawn in lesser than or equal to 12 months.
    • 0.50% penalty:If an investment is less than Rs.5 lakh and is prematurely withdrawn before 12 months.
    • 1.00% penalty:If an investment is more than Rs.5 lakh and is withdrawn before the maturity period.

    BOI senior citizen FD rates

    • All senior citizens ( 60 years and above) will be paid an additional rate of interest of 0.50% above the regular rate.
    • It is important to note here that a higher interest rate will only be paid for a deposit that is held for 6 months and above.
    • The range at which interest payments are made is from 5.25% p.a.to 7.15% p.a.
    • The highest interest rate paid to senior citizens is 7.15% p.a. for an investment period of 1 year to less than  2 years.

    BOI FD rates - Above Rs.1 Crore to less than Rs.10 Crore

    Tenure Regular Interest Rate (per annum) Senior Citizen Interest rate (per annum)
    7 days to 90 days 4.80% NA
    91 days to 179 days 4.90% NA
    180 days to less than 12 months 5.00% NA
    1 year to below 2 years 6.50% NA
    2 years to less than 3 years 6.60% NA
    3 years to 10 years 5.25% NA

    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.

    Bank of India Fixed Deposit Reviews

    • Bank of India Fixed Deposit
      "Best"
      0.5 4.0/5 "Great!"
      I do have the fixed deposit account with the Bank of India and the customer service is good one for me with them. I have felt that the response is also good too. Rate of interest is around 7.75% for my deposit and nowadays its really reducing one.
      Was this review helpful? 4
      , new delhi
      Reviewed on Feb 16, 2018
    • Bank of India Fixed Deposit
      "Good benefits"
      0.5 5.0/5 "Blown Away!"
      I bank with Bank of India for a fixed deposit as well. The services are good and there are no issues to open this account. I can do everything online and the rate of interest is also good. There are no charges for these transactions. Satisfied overall.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Feb 09, 2018
    • 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? 16
      , 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? 17
      , 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? 11
      , 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? 5
      , 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? 4
      , 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? 9
      , kolkata
      Reviewed on Feb 02, 2015
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