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Bank of India Recurring Deposit Interest Rates- 23 Jul 2019

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A recurring deposit account can be opened with Bank of India (BOI) in the names of individuals (single and joint accounts), minors, blind, and illiterate persons. The bank offers a variety of tenures which starts at 180 days and goes up to 10 years. The rate of interest offered by the bank on the tenures are quite attractive. The core monthly instalment of an RD opened with Bank of India is Rs.100 in rural and semi-urban branches and Rs.500 in urban and metro branches.

The interest rates offered on RD tenures by Bank of India to general citizens are listed below:

Tenure Below Rs.2 crore Rs.2 crore to less than Rs.10 crore
180 days to 269 days 6.25% p.a. 6.25% p.a.
270 days to less than 12 months
444 days 6.75% p.a. 6.70% p.a.
12 months to less than 24 months 6.70% p.a.
24 months to less than 36 months
36 months to less than 60 months 6.50% p.a. 6.50% p.a.
60 months to less than 96 months
96 months to less than 120 months 6.35% p.a. 6.35% p.a.

Note: The interest rates can be changed at the discretion of the bank.

The interest rates offered on RD tenures by Bank of India to senior citizens are listed below:

Tenure Below Rs.2 crore Rs.2 crore to less than Rs.10 crore
180 days to 269 days 6.75% p.a. 6.75% p.a.
270 days to less than 12 months
444 days 7.25% p.a. 7.20% p.a.
12 months to less than 24 months 7.20% p.a.
24 months to less than 36 months
36 months to less than 60 months 7.00% p.a. 7.00% p.a.
60 months to less than 96 months
96 months to less than 120 months 6.85% p.a. 6.85% p.a.

*The interest rates can be changed at the discretion of the bank

NRE Recurring Deposit Interest rates

Tenure Interest Rates
(less than Rs.2 crore)
Interest Rates
(Rs.2 crore to less than Rs.10 crore)
12 months to less than 24 months 6.70% p.a. 6.70% p.a.
444 days 6.75% p.a. 6.70% p.a.
24 months to less than 36 months 6.70% p.a. 6.70% p.a.
36 months to less than 60 months 6.50% 6.50% p.a.
60 months to less than 120 months
96 months to less than 120 months 6.35% p.a. 6.35% p.a.

Note: The interest rates can be changed at the discretion of the bank

Bank of India – Short-Term RD Interest Rates

Bank of India offers you the option of opening an RD for a short term. The tenure for a short-term RD ranges from 180 days to less than 2 years with the rate of interest offered being between 6.25% and 6.75% p.a. The interest rates offered by the bank is for amounts that range between Rs.2 crore and Rs.10 crore.

Bank of India – Medium- and Long-Term RD Interest Rates

Tenures that range from 2 years to less than 5 years fall under medium-term RDs while the tenures which are for 5 years and above are known as long-term RDs. Bank of India offers interest of 6.50% to 6.70% p.a. on medium-term RDs while for long-term RDs it is from 6.35% to 6.85% p.a.

Bank of India - Senior Citizen RD Interest Rates

Bank of India offers citizens above the age of 60 years an additional interest of 0.50% p.a. on all investments when it comes to RDs. The rate of interest offered is in the range of 6.75% to 7.25% p.a. The highest interest rate is offered for a special tenure of 444 days with a deposit below Rs.2 crore.

Bank of India - NRE Recurring Deposit Interest Rates

The public sector lender offers recurring deposit schemes to NRIs as well. The tenures start from 1 year and go up to 10 years. The interest rates offered by the bank on the tenures are in the range of 6.35% to 6.75% p.a. for deposits less than Rs.2 crore. For deposits above Rs.2 crore to Rs.10 crore, the interest offered ranges from 6.35% to 6.70% p.a.

More you need to know about Recurring Deposit

Bank of India RD Schemes

Read More Articles On RD

News About State Bank of Mysore Recurring Deposit Interest Rates

  • Bank of India to Lower Interest Rates

    Bank of India has lowered the interest rates on saving accounts and deposits by 0.5%. Saving accounts with a balance of lesser than Rs.50 lakh will now only earn an interest of 3.5%. Nevertheless, customers who maintain a balance of above Rs.50 lakh will continue to earn an interest of 4%.

    The two-tier interest rate for saving accounts will be effective from Thursday, 31st August.

    24 August 2017

  • Interest Rates of Bank of India Recurring Deposit Schemes Revised

    The interest rates of Recurring Deposit Schemes offered by Bank of India have been revised. For deposits of below Rs.1 crore for a tenure of 6 months to 2 years, the interest rate ranges from 6.9% p.a. to 7.1% p.a. For deposits of between Rs.1 crore and less than Rs.10 crores for the same tenure, the interest rate ranges from 6.3% p.a. to 6.75% p.a. and for deposits of more than Rs.10 crores, the interest rate ranges from 6.25% p.a. to 6.5% p.a.

    The interest rates of medium and long term recurring deposits have also been revised. For deposits of below Rs.1 crore for a tenure of more than 2 years and up to 5 years, the interest rate ranges from 7.1% p.a. to 7% p.a. For deposits of between Rs.1 crore and less than Rs.10 crores and for deposits of more than Rs.10 crores for the same tenure, the interest rate is 6.5% p.a.

    The interest rate for NRE Recurring Deposits worth less than Rs.1 crore is 7.10% for a tenure of 1 year to below 3 years. For deposits worth Rs.1 crore to Rs.10 crores for a tenure of 1 year to below 2 years, the interest rate is 6.75% p.a. and for a tenure of 3 years to 10 years, the interest rate is 6.5%.

    1 December 2016

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BOI RD Rates Reviews

Page 1 of 1
  • Bank of India Recurring Deposit
    "Good RD plan"
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    I have opened a Recurring Deposit account with Bank of India on 2014. I have used the RD account for past 2years. I got the Rate of interest with 8.7% in which BOI issued for the RD account. I have got profit around Rs.16000 to 20000. The rate of interest changed at present
    Was this review helpful? 6
    , kakinada
    Reviewed on Sep 26, 2017
  • Bank of India
    Bank of India Recurring Deposit
    "Best rates "
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    The bank of India recurring deposit service was really good.They are providing the plan in a fast manner.Their executives are able to provide the clear details about the account maintenance process.They have applied interest rate around 9.55% for the recurring account
    Was this review helpful? 7
    , bangalore
    Reviewed on Dec 17, 2015
  • Bank of India Recurring Deposit
    "Near to my residence"
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    I hold an Recurring deposit account with BANK OF INDIA. Since the bank branch is located near to my residence opened an account with them. They will fix the rate of interest as per the RBI instructions. There was no additional or hidden charges with them. In the year 2002 I opened this account.
    Was this review helpful? 1
    , kolkata
    Reviewed on Oct 06, 2015
  • Bank of India Recurring Deposit
    "Better.."
    BANK OF INDIA
    0.5 4.0/5 "Great!"
    Bank of India recurring deposit was recommended by my father I can use the amount for my future need after five years. It is 8.5% of rate and a kind of simple rate. The bank is calculating the rate on quarterly basis. No charges if we want to close the plan in midst of the tenure but 1% of interest would be reduced.
    Was this review helpful? 3
    , patna
    Reviewed on Sep 16, 2015
  • Bank of India Recurring Deposit
    "Save more"
    BANK OF INDIA
    0.5 4.0/5 "Great!"
    I am having the recurring deposit with the bank of india. The rate of interest is good with them and am happy for that. The services are also good and for the last two years am holding this account. The minimum lock in period is 1 year of time.
    Was this review helpful? 7
    , sambalpur
    Reviewed on Aug 26, 2015
  • Bank of India Recurring Deposit
    "Good "
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    Two years once I usually apply for the recurring deposit with the Bank of India.The rate of interest and all we are not worried about that.The minimum lock in period is around from 6 months to unlimited.The services are good with them.The response is also very immediate.
    Was this review helpful? 4
    , new delhi
    Reviewed on Jul 20, 2015
  • Bank of India Recurring Deposit
    "Excellent"
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    Its good to maintain a recurring deposit with Bank of India and the interest rate offered was recently increased to 8.9% which is really a good rat.They are not that good compared to HDFC Bank because HDFC is best.I will recommend BOI to others for maintaining a account.
    Was this review helpful? 7
    , bangalore
    Reviewed on Jul 09, 2015
  • Bank of India Recurring Deposit
    "Its a good one"
    BANK OF INDIA
    0.5 4.0/5 "Great!"
    I am holding a Bank of India Recurring Deposit. It is a public sector Bank so I have invested here . Interest rate offered by them was 7% to 8% I would say it is not okay. As when I approach them for they charge huge interest which 17% to 18%. However when we approach them for the deposit they hardly provide 8%. I have given the basic documents for opening this deposit.
    Was this review helpful? 4
    , navi mumbai
    Reviewed on Mar 18, 2015
  • Bank of India Recurring Deposit
    "Good approach"
    BANK OF INDIA
    0.5 3.0/5 "Satisfactory"
    Bank of India Recurring deposit is quite satisfactory. Though not good its still better. I have approached them as I have BOI at my location . I have approached them many a times , the rate of interest offered by them was satisfactory. I have been to the branch to open this account and very less documents required for opening this account.
    Was this review helpful? 5
    , bangalore
    Reviewed on Dec 12, 2014
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