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Bank of India Star Flexi-Recurring Deposit Scheme

 5.0 / 5.0   by 11 users
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Fees & Charges

Promised Interest Rate

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Responsiveness

With BOI Star Flexi-Recurring Deposit, you can choose the core instalment amount as well as monthly flexible instalments. You can deposit your money for a period ranging from 1 year to 10 years and earn interest of up to 6.75% p.a. on the amount. You need to deposit a minimum of Rs.100 (for rural branches) or Rs.500 (for metro/urban branches) to open your flexi RD account.

BOI Star Flexi-Recurring Deposit Interest Rates

Tenure Interest Rates (for deposits less than Rs.2 crore) Interest Rates (for deposits less than Rs.2 crore)
1 year to less than 2 years (except 444 days) 6.70% p.a. 6.70% p.a.
444 days* 6.75% p.a. 6.70% p.a.
2 years to less than 3 years 6.70% p.a. 6.70% p.a.
3 years to less than 5 years 6.50% p.a. 6.50% p.a.
5 years to less than 8 years 6.50% p.a. 6.50% p.a.
8 years to 10 years 6.35% p.a. 6.35% p.a.

*Applicable only for deposits less than Rs.2 crore

Benefits of BOI Star Flexi-Recurring Deposit Scheme

  • Minimum amount of Rs.100 to open the account
  • Enjoy an interest rate of up to 6.75% p.a.
  • Nomination facility available
  • Flexible instalments

Things to Remember

  • Core instalment has to be paid every month to avoid penalty charges
  • Core instalments cannot be paid in advance
  • Single maturity date for both core and flexi portions
  • In the last month of the RD account, flexi instalment won’t be accepted
  • Core instalment is fixed and cannot be varied
  • Auto-renewal of the maturity proceeds is not permitted

BOI Star Flexi-Recurring Deposit EMI Calculator

It’s always advised to calculate the interest beforehand so that you can understand how much your returns would be after the maturity period. It will also help you compare other FD schemes.

In order to calculate, you can use any of the online RD calculators. Remember that the interest earned depends on the instalment amount, tenure, and interest rate. Sign up for the BOI Star Flexi-Recurring Deposit scheme to enjoy flexible instalments and attractive rates. Make sure to read the terms and conditions thoroughly before signing up.

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Customer Reviews

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  • Bank of India Recurring Deposit
    "Trusted Investment"
    BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    Minimum I pay Rs. 1000 to Bank of India on monthly basis, there is no limitation for the deposits,. They are resolving the RD queries. on time but they don't have online option for the payment. I need to make through auto debit or cash, it has duration of three years.I can also extend the duration.
    Was this review helpful? 3
    , mumbai
    Reviewed on May 14, 2019
  • Bank of India
    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 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
    "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? 2
    , 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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