Bank of India has increased the interest rates of fixed deposits. The bank has increased the interest rates of some FD tenures by one per cent. The increased interest rate will be applicable for FDs of less than Rs 2 crore. According to Bank of India, the new rates will be effective from May 26, 2023. Retail investors from the bank will get a return of 7 per cent instead of one year FD rate of 6 per cent. After the change, the bank will give a return of 3 percent to 7 percent on the deposit amount maturing between 7 days to 10 years to the general customers. At the same time, the bank will give 7.50 percent interest on one year FD to senior citizens and 7.65 percent to super senior citizens. The new interest rates will be applicable on Domestic, NRO and NRE deposits.
bank of india fd rates
- The bank is giving 3% return on FDs of 7 days to 45 days.
- 4.50 percent interest will be available on FDs between 46 days and 179 days.
- The bank will get 5 percent interest on FDs of 180 days to 269 days.
- The bank will get 5.50 percent interest on FDs of 270 days and less than one year.
- 7 percent interest will be given on one year FD.
- 6% interest will be given on FDs of more than one year and less than two years.
- Will give 6.75 percent return on FDs from two years to less than three years.
- Will give a return of 6.50 percent on FDs of three years to less than 5 years.
- The bank will give 6 percent interest rate on FDs of 5 years to 10 years.
- Senior citizens will get interest ranging from 3 percent to 7.50 percent on FDs ranging from 7 days to 10 years.
- Senior citizens are getting the highest return of 7.50 percent on one year FD.