Getty Images revises fixed deposit interest rates on certain tenors for amounts below Rs 2 crore, effective from June 23, 2022. The bank offers interest rates between 2.85 percent and 5.50 percent.
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 per cent after the modification. For 445 days to less than 3 year tenor, interest rate offered is 5.40 per cent. For 3 years and above the bank offers an interest rate of 5.35 per cent after the revision.
Senior citizen
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 crore) for all the tenors of 3 Years & above i.e. 75 bps.”
On June 23, 2022, Bank of India introduced a 444-day term deposit scheme offering interest rate at 5.50 percent p.a.
According to a press release issued by the bank, this offer shall be valid for limited period only and the same is available at Bank of India’s all branches/ online platforms viz. internet banking/ BoI mobile app. on this very special term deposit, senior citizen will also get additional interest of 0.50% p.a.
Penalty
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 .
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 per cent after the modification. For 445 days to less than 3 year tenor, interest rate offered is 5.40 per cent. For 3 years and above the bank offers an interest rate of 5.35 per cent after the revision.
Bank of India latest FD interest rates
Senior citizen
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 crore) for all the tenors of 3 Years & above i.e. 75 bps.”
On June 23, 2022, Bank of India introduced a 444-day term deposit scheme offering interest rate at 5.50 percent p.a.
According to a press release issued by the bank, this offer shall be valid for limited period only and the same is available at Bank of India’s all branches/ online platforms viz. internet banking/ BoI mobile app. on this very special term deposit, senior citizen will also get additional interest of 0.50% p.a.
Penalty
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 .
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