Bank of India Revises Interest Rates On Fixed Deposit: Check New Rates Here
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Bank of India Regular Fixed Deposit Rates
After the latest revision, the public sector lender is now offering the following interest rates on fixed deposits to the general public.
| Maturity Buckets | Interest Rates In % |
|---|---|
| 7 days to 14 days | 2.85 |
| 15 days to 30 days | 2.85 |
| 31 days to 45 days | 2.85 |
| 46 days to 90 days | 3.85 |
| 91 days to 179 days | 3.85 |
| 180 days to 269 days | 4.35 |
| 270 days to less than 1 year | 4.35 |
| 1 Year & above but less than 2 Years | 5.00 |
| 2 years & above to less than 3 years | 5.05 |
| 3 years & above to less than 5 years | 5.05 |
| 5 years & above to less than 8 years | 5.05 |
| 8 years & above to 10 years | 5.05 |
| Source: Bank Website |
Bank of India Fixed Deposit Interest Rates For Senior Citizens
On deposits of up to Rs.2 crore for a period of 6 months and up to 10 years, Bank of India provides a 0.50 percent p.a. additional rate of interest over and above card rates to the general public. Senior citizens will now get the following interest rates on their deposits, post the recent revision of the bank.
| Maturity Buckets | Interest Rates In % |
|---|---|
| 7 days to 14 days | 2.85 |
| 15 days to 30 days | 2.85 |
| 31 days to 45 days | 2.85 |
| 46 days to 90 days | 3.85 |
| 91 days to 179 days | 3.85 |
| 180 days to 269 days | 4.85 |
| 270 days to less than 1 year | 4.85 |
| 1 Year & above but less than 2 Years | 5.50 |
| 2 years & above to less than 3 years | 5.55 |
| 3 years & above to less than 5 years | 5.55 |
| 5 years & above to less than 8 years | 5.55 |
| 8 years & above to 10 years | 5.55 |
| Source: Bank Website |
Bank of India Penalty Rates On Fixed Deposits
In case of premature withdrawal, Bank of India will impose the following penalty rates on deposits made by depositors. The bank will not levy a penalty for premature withdrawals of Term Deposits owing to the death of the depositor/s, as well as premature withdrawals of Term Deposits made by employees, ex-employees, staff/ex-staff senior citizens, and the spouse of a dead employee as a primary depositor.
| Category of the deposits | Penalty on premature withdrawal of the deposit |
|---|---|
| Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months | NIL |
| Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months | 0.50% |
| Deposits of Rs. 5 Lacs & above withdrawn prematurely | 1.00% |
| Source: Bank Website |
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