Bank of India raises fixed deposit rates, launches 500-day special scheme
The public sector bank has also launched a special 500-day deposit scheme, ‘Star Akshay Fixed Deposit’, offering interest rates of 6.85 per cent per annum for general customers, 7.35 per cent for senior citizens and 7.50 per cent for super senior citizens.
For deposits below Rs 3 crore, the interest rate on one-year fixed deposits has been increased to 6.60 per cent, while deposits above one year and below three years will earn 6.70 per cent.
Senior citizens will get an additional 0.50 percentage points and super senior citizens an additional 0.65 percentage points on deposits with maturities of 180 days to less than three years.
For deposits of Rs 3 crore to less than Rs 10 crore, the revised interest rate is 6.55 per cent for a one-year tenure and 6.65 per cent for deposits above one year and below three years.
The bank is also offering an additional 0.15 percentage points on non-callable fixed deposits of more than Rs 1 crore for tenures ranging from one to three years.
Loan against fixed deposits and premature withdrawal facilities are available only for callable deposits.
Customers can open fixed deposits at any Bank of India branch or through the BOI Omni Neo app and internet banking facilities, the bank said in a release on Monday.
TNT KS
