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  • Bank of India Recurring Deposit Interest Rates

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    TenureRecurring Deposit Interest Rates below Rs.1 CroreRecurring Deposit Interest Rates On Rs.1 Crore but below Rs. 10 croreRecurring Deposit Interest Rates above Rs.10 Crore
    180 days to 269 days6.54.254.25
    270 days to less than 1 Year6.54.254.25
    1 Year & above but less than 2 Years6.74.54.5
    2 Years to less than 3 years6.654.54.5
    3 Years to less than 5 years6.64.54.5
    5 years to less than 8 years6.54.54.5
    8 years & above to 10 years 6.54.54.5

    NRE Recurring deposit rates

    TenureRecurring Deposit Interest Rates below Rs.1 CroreRecurring Deposit Interest Rates On Rs.1 Crore but below Rs. 10 croreRecurring Deposit Interest Rates above Rs.10 Crore
    1 Year & above but less than 2 Years 6.74.54.5
    2 Years to less than 3 years 6.654.54.5
    3 Years to less than 5 years 6.64.54.5
    5 years and above up to 10 Years 6.54.54.5

    Get the Best Rates for a Bank of India Recurring Deposit

    Recurring deposits can be opened with Bank of India by individuals, as joint applications and also by minors. A Bank of India recurring deposit can be started only with tenures ranging in multiples of three and up to a maximum of 10 years. The interest rate is compounded on a quarterly basis for a Bank of India RD. The minimum instalment amount should be Rs. 500 for branches in Metros and Rs. 100 for BOI branches in the rural and semi-urban areas. Bank of India does not mandate a maximum recurring deposit limit. The biggest advantage of opening a BOI recurring deposit account is that, if the tenure of the deposit is long, the interest rate got would also be relatively higher.

    Bank of India - Short Term RD Interest Rates

    As short term deposits, Bank of India offers recurring deposits with tenures starting at 6 months and up to 2 years. The interest rates offered for the short tenures range from 6.50% to 6.70% for deposit amounts below Rs. 1 crore, 4.25% to 4.50% for deposit amounts between Rs 1 crore and below Rs. 10 crore and ranges from 4.25% to 4.50% for deposits above Rs.10 Crore.

    Bank of India - Medium and Long Term RD Interest Rates

    Bank of India offers tenures ranging above 2 years to up to 5 years as mid-range terms and from 5 years to 10 years as long-term deposits. The interest rates offered for the mid tenures is 6.65% to 6.60% for deposit amounts below Rs. 1 crore, 4.50% for deposit amounts between Rs 1 crore and below Rs. 10 crore and ranges from 4.50% for deposits above Rs.10 Crore. The interest rates offered for the long-term deposits is 6.50% for deposit amounts below Rs. 1 crore, 4.50% for deposit amounts between Rs 1 crore and below Rs. 10 crore and ranges from 4.50% for deposits above Rs.10 Crore.

    Bank of India - Senior Citizen RD Interest Rates

    Senior Citizens have to mandatorily open a Bank of India recurring deposit account for a minimum period of 6 months and above to get special interest rates. The senior citizen should definitely be the primary account holder and should be aged above 60 when the deposit is being opened. Bank of India gives an additional interest rate of 0.50% over the regular rates for recurring deposits below Rs. 1 crore. Ex-BOI staff and spouse (if staff is deceased) can get an additional 1.50% on their recurring deposit accounts.

    Bank of India - NRE Recurring Deposit Interest Rates

    Bank of India offers recurring deposits schemes to NRIs with tenures ranging from 1 to 10 years. The interest rate given is decided based on the amount deposited. For deposit amounts below Rs. 1 crore, the interest rate offered is 6.70% for the tenure of 1 Year and above but less than 2 Years. For deposit amounts of Rs 1 crore and up to Rs 10 crore, the interest rate offered to NRIs is 4.50% for the tenures of 1 year & above but less than 2 Years and 4.50% for tenures ranging from 3 to 10 years.

    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.

      24th 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%.

      1st December 2016

    Recurring Deposit - Sitemap

    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? 0
      , kakinada
      Reviewed on Sep 26, 2017
    • 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? 6
      , bangalore
      Reviewed on Dec 17, 2015
    • Bank of India Recurring Deposit
      "Good bank"
      BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      With BOI I have opened RD . One of my friend is a branch manager and I did not find any difficult. I did not face any difficulties in paper processing. Its 100% positive. I am holding this RD fore more than 6 months. There is no drawback no challenges as such.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 01, 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? 2
      , 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? 4
      , 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? 3
      , 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? 5
      , 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? 2
      , 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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