According to the Bank of India website, it offers an interest rate of 5.30 percent for term deposit 1 Year to 443 Days. For 444 days the bank offers 5.50 percent after the modification. For 445 Days to less than 3 year tenor, interest rate offered is 5.40 percent. For 3 years and above the bank offers an interest rate of 5.35 percent after the revision.
Bank of India latest FD interest rates
According to the Bank of India website, “Additional premium of 25 bps, over & above the existing 50 bps will be paid to senior citizen’s on their retail TD (Less than Rs. 2 Cr) for all the tenors of 3 Years & above i.e. 75bps.”
There will be no penalty for the early withdrawal in cases where deposits have been prematurely closed for renewing for a longer duration than the remaining time of the initial contract tenure, regardless of the deposit’s quantity.
Many big banks including
, , , have hiked their FD interest rates after the RBI hiked repo rates by 90 basis points over the last one month.
Other banks that have hiked FD interest rates include
, DCB, and .