Bank of India is a leading public sector bank in India, offering a wide array of banking and financial services. It provides fixed deposits with competitive interest rates and enhanced rates for senior citizens. Use the calculator to determine your potential interest earnings and maturity values, simplifying your investment planning process.
Here is the interest rate table for fixed deposits of less than 3 crore:
| Tenure | General Customers (%) | Senior Citizen (%) |
|---|---|---|
| 7 days to 45 days | 3.00 | 3.00 |
| 46 days to 179 days | 4.50 | 4.50 |
| 180 days to 269 days | 6.00 | 6.50 |
| 270 days to less than 1 year | 6.00 | 6.50 |
| 333 days (Star Dhan Vriddhi) | 7.25 | 7.75 |
| 1 Year to 2 Years | 6.80 | 7.30 |
| Above 2 Years to less than 3 Years | 6.75 | 7.25 |
| 3 Years to less than 5 Years | 6.50 | 7.25 |
| 5 Years to 10 Years | 6.00 | 6.75 |
Data last updated on 01/09/2024. Check latest interest rates here.
Bank of India FD Calculator
Bank of India FD FAQs
What is the minimum amount required for a Term Deposit?
The minimum amount is ₹10,000, but can be lower in special cases like earnest money or court orders with proper documents.
What is the maximum tenure for Term Deposits?
The maximum tenure is 10 years for Domestic Rupee, NRO, and NRE Term Deposits.
Are there penalties for premature withdrawal of Term Deposits?
Yes, deposits less than ₹5 lakhs have no penalty after 12 months and 0.50% penalty if withdrawn before 12 months. Deposits of ₹5 lakhs and above incur a 1.00% penalty.
Is there a maximum limit for Recurring Deposits?
The maximum installment amount for Recurring Deposits, including Flexi, is ₹10,00,000, with exceptions requiring approval.