Bank of India hikes interest rate on this special fixed deposit from today

BOI FD interest rate hike: Bank of India has hiked the interest rate on its special term deposit scheme– ‘Shubh Arambh Deposit’ for 501 days which will be effective from today, April 1 for deposits below Rs 2 crores. 

According to the bank release, the bank is guaranteeing an interest rate of 7.15 per cent for general customers. 

Also Read: Taxpayers Alert: These 10 income tax changes will be applicable from April 1

BOI FD interest rate for senior citizens

Bank of India is offering an interest rate of 7.8 per cent in a limited period special scheme to super senior citizen customers and 7.65 per cent for other senior citizen customers in the special scheme. Additionally, the bank is offering 0.15 per cent more to super senior citizens (80 years and above) across buckets of 6 months to 10 years. The revised interest rates are applicable for domestic, NRO, and NRE deposits.

BOI general FD interest rate

The rate of interest for other term deposits maturing in 7 days to 45 days is 3 per cent. For a tenure of 46 days to 179 days the bank is offering an interest rate of 4.5 per cent. From 180 days to 269 days the bank is offering an interest rate of 5 per cent. The bank is providing 5.5 per cent interest on deposits for a tenure of 270 days to less than a year. 

For one year to less than 2 years, the bank is offering (except 501 days) 6 per cent interest on the deposit. Bank of India is offering 6.75 per cent for a tenure of 2 years to less than 3 years. For 3 years to less than 5 years, the interest rate is fixed at 6.5 per cent and for 5 years to 10 years, customers will get an interest of 6 per cent.

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