BOI NRE/NRO/NRI/FCNR FD Rates
BOI NRI fixed deposits (NRE, NRO and FCNR) offer 3.00% to 6.85% p.a. across tenures from 7 days to 10 years. Interest accrues on completed months, with part-months calculated on a 365-day-year basis.
The interest for fixed deposit account will be calculated for the completed months and in case where the terminal month is incomplete, the interest will be calculated for the actual number of days on the basis of 365 days in a year.
Even NRIs are allowed to open fixed deposit accounts with Bank of India and special rates on interest is provided for these fixed deposit accounts.
BOI NRE/NRO Deposit Rates Under Rs.3 Crore (Callable)
Here are the updated NRE/NRO callable rates for above Rs.1 crore and less than 3 crore:
Tenure | Rate of Interest (p.a.) |
7 days to 14 days | 3.00% |
15 days to 30 days | 3.00% |
31 days to 45 days | 3.00% |
46 days to 90 days | 4.50% |
91 days to 179 days | 4.25% |
180 days to 210 days | 5.50% |
211 days to 269 days | 5.50% |
270 days to less than 1 year | 5.50% |
1 year | 6.50% |
Above 1 Year to less than 2 Years (except 450 Days) | 6.50% |
450 Days | Discontinued for this bracket from 18 May 2026 |
2 Years to less than 3 Years | 6.60% |
3 Years | 6.70% |
Above 3 Years to less than 5 Years | 6.25% |
5 Years to less than 8 Years | 6.00% |
8 years & above to 10 Years | 6.00% |
Note: Interest rates updated on 02 September 2026.
On BOI NRI fixed deposits, no interest is paid on an NRE term deposit withdrawn before 12 months, so no penalty applies during that period; deposits withdrawn early after 12 months attract a penalty on the applicable rate.
BOI NRE/NRO Deposit Rates Under Rs.3 Crore (Non- Callable)
Given below are the updated rates NRE/NRO for deposits above Rs.1 crore and less than 3 crore:
Tenure | Rate of Interest |
1 Year | 6.65% p.a. |
More than 1 year to less than 2 years (except 450 days) | 6.65% p.a. |
450 days (Star Vaibhav) | Not currently offered as a separate non-callable tenure bucket. |
2 years to less than 3 years | 6.75% p.a. |
3 years | 6.85% p.a. |
Note: Interest rates updated on 02 September 2026.
Interest earned on a BOI NRE fixed deposit is exempt from tax under Section 10(4)(ii) of the Income Tax Act as long as the account holder retains non-resident status, while interest on an NRO fixed deposit is taxable in the NRI's hands.
BOI FCNR (B) Deposit Rates
The BOI Foreign Currency Non-Resident (Bank) Deposit interest rates* for corresponding foreign currency** can be found below:
Tenure (p.a.) | USD | GBP | EUR | JPY | CAD | AUD |
One year to less than two years | 4.75% | 4.30% | 2.75% | 0.20% | 3.00% | 3.90% |
Two years to less than three years | 3.85% | 2.50% | 1.50% | 0.20% | 2.50% | 3.50% |
Three years to less than four years | 3.35% | 2.50% | 1.00% | 0.20% | 2.27% | 3.00% |
Four years to less than five years | 3.35% | 2.50% | 0.75% | 0.20% | 2.27% | 3.00% |
Five years (Maximum) | 3.15% | 2.50% | 0.50% | 0.20% | 2.27% | 3.00% |
Note: The interest rates are effective from 02 February 2026.
*GBP to Pound Sterling, USD to US Dollar, CAD to Canadian Dollar, JPY to Japanese Yen and AUD to Australian Dollar.
Summary
BOI's NRE, NRO and FCNR fixed deposits give NRIs both rupee and foreign-currency options across short and long tenures, with callable and non-callable choices to match your liquidity needs. NRE and FCNR interest is tax-free in India, while NRO interest is taxable in the NRI's hands. Compare the rate tables above and use the FD calculator to find the tenure that works best for you.
FAQs on BOI NRI Fixed Deposit Rates
1.What is a BOI NRI fixed deposit?
A BOI NRI fixed deposit is a term deposit that Bank of India offers to non-resident Indians through NRE, NRO and FCNR accounts, each with its own currency, repatriability and tax treatment.
2.What is the difference between BOI NRE and NRO fixed deposits?
A BOI NRE fixed deposit holds foreign earnings converted to rupees and is fully repatriable, while a BOI NRO fixed deposit holds income earned in India, such as rent or dividends, and allows only limited repatriation.
3.What is a BOI FCNR fixed deposit?
A BOI FCNR fixed deposit lets NRIs hold a term deposit in a foreign currency, such as USD, GBP, EUR, JPY, CAD or AUD, so the principal is not exposed to rupee exchange-rate movements.
4.What is the minimum tenure for a BOI NRE fixed deposit?
A BOI NRE fixed deposit must be held for a minimum of one year, in line with the Reserve Bank of India's rules for NRE term deposits.
5.What is the difference between callable and non-callable BOI NRI fixed deposits?
A callable BOI NRI fixed deposit can be withdrawn before maturity, usually at a lower rate, while a non-callable deposit locks in a slightly higher rate in exchange for giving up premature withdrawal.
6.Are BOI NRI fixed deposits eligible for senior citizen rates?
No, BOI does not offer an additional senior citizen interest rate on its NRE, NRO or FCNR fixed deposits, unlike its resident term deposits.
7.Can I withdraw a BOI NRE fixed deposit before maturity?
Yes, BOI allows premature withdrawal of an NRE fixed deposit, though withdrawing early can mean forgoing interest or paying a penalty depending on how long the deposit was held.
8.Can I withdraw a BOI FCNR fixed deposit before maturity?
Yes, BOI allows premature withdrawal of an FCNR fixed deposit, subject to the bank's applicable penalty and the minimum holding period for that currency and tenure.
9.Is interest on a BOI NRE fixed deposit taxable in India?
No, interest earned on a BOI NRE fixed deposit is exempt from Indian income tax as long as the account holder retains non-resident status, while interest on an NRO fixed deposit is taxable.
10.How do I open a BOI NRI fixed deposit?
You can open a BOI NRE, NRO or FCNR fixed deposit by visiting a Bank of India branch or its NRI banking channels with your KYC and NRI-status documents, and choosing the account type and tenure that suits your needs.
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