Bank of India, one of India’s leading public sector banks, has announced an upward revision of interest rates on its short-term and medium-term fixed deposits. The new rates apply to tenures ranging from 180 days to less than one year, effective August 1, 2024.
For fixed deposits amounting to less than Rs. 3 crore, the bank now offers an interest rate of 6.00 per cent for tenures between 180 days and less than one year. For deposits ranging from Rs. 3 crore to less than Rs. 10 crore, the rates are 6.50 per cent for tenures of 180 to 210 days and 6.75 per cent for tenures of 211 days to less than one year.
Bank of India continues to offer the highest rate of 8.10% per annum on its 666 Days Fixed Deposit under the Non-Callable Deposit scheme for super senior citizens. Additionally, an extra interest rate of 0.65 per cent is offered on deposits of super senior citizens and 0.50% on deposits of senior citizens below Rs. 3 crore for fixed deposits with maturity periods of six months and above.
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The bank’s “666 Days – Fixed Deposit” scheme offers a competitive interest rate of 7.30 per cent for the general public, with super senior citizens receiving 7.95 per cent per annum and senior citizens receiving 7.80 per cent per annum.
Bank of India also provides loans against fixed deposits and premature withdrawal facilities. Customers can open fixed deposits by visiting any Bank of India branch or through the BOI Omni Neo App and internet banking.
