The revised FD rates have been effective from September 27, 2024.
Here’s the latest FD rates by Bank of India
Bank of India is offering a 3% interest rate on FDs maturing between 7 days and 45 days. On FDs maturing between 46 days and 179 days the bank is offering a 4.5% interest rate. The bank is offering a 6% interest rate on FDs maturing between 180 days and less than one year. The bank is offering a 6.8% interest rate on FDs maturing between one year and less than two years (except 400 days). The bank is offering 7.3% on FDs maturing in 400 days. For FDs maturing in two years, the bank is offering 6.8%. For FDs maturing between more than two years and less than three years, the bank is offering a 6.75% interest rate. For FDs maturing between three years and less than five years, the Bank of India is offering 6.5% interest rate. For FDs maturing between five years and less than eight years, the bank is offering a 6% interest rate. For FDs maturing between more than eight years and ten years, the bank is offering a 6% interest rate.
Table showing interest rates for general citizens:
| Maturity period | Interest rate |
| 7 days to 14 days | 3 |
| 15 days to 30 days | 3 |
| 31 days to 45 days | 3 |
| 46 days to 90 days | 4.5 |
| 91 days to 179 days | 4.5 |
| 180 days to 210 days | 6 |
| 211 days to 269 days | 6 |
| 270 days to less than 1 Year | 6 |
| 1 Year | 6.8 |
| Above 1 Year to less than 2 Years (except 400 Days) | 6.8 |
| 400 days | 7.3 |
| 2 Years | 6.8 |
| Above 2 Years to less than 3 Years | 6.75 |
| 3 Years to less than 5 Years | 6.5 |
| 5 Years to less than 8 Years | 6 |
| 8 years & above to 10 Years | 6 |
Bank of India senior citizen FD interest rates
According to the Bank of India website as of September 28, 2024 here are the guidelines for higher interest rate for senior and super senior citizens:
- Senior Citizens with the age of 60 years (completed) & above but less than 80 years will be eligible for an additional rate of interest of 0.50% on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of minimum 6 months & above (but less than three years). Senior Citizens are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.50% ROI on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of three years & above and up to 10 years. In such cases, the effective eligibility of additional ROI will be 0.75% p.a.
- Super Senior Citizens the age of 80 years (completed) & above will be eligible for an additional rate of interest of 0.65% on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of minimum six months & above (but less than three years). Super Senior Citizens are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.65% ROI on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of three years & above and up to 10 years. In such cases, the effective eligibility of additional ROI will be 0.90% p.a.
| Maturity period | Senior citizens | Super senior citizens |
| 07 days to 14 days | 3 | 3 |
| 15 days to 30 days | 3 | 3 |
| 31 days to 45 days | 3 | 3 |
| 46 days to 90 days | 4.5 | 4.5 |
| 91 days to 179 days | 4.5 | 4.5 |
| 180 days to 210 days | 6.5 | 6.65 |
| 211 days to 269 days | 6.5 | 6.65 |
| 211 days to 269 days | 6.5 | 6.65 |
| 270 days to less than 1 Year | 6.5 | 6.65 |
| 1 Year | 7.3 | 7.45 |
| Above 1 Year to less than 2 Years (except 400 Days) | 7.3 | 7.45 |
| 400 Days | 7.8 | 7.95 |
| 2 Years | 7.3 | 7.45 |
| Above 2 Years to less than 3 Years | 7.25 | 7.4 |
| 3 Years to less than 5 Years | 7.25 | 7.4 |
| 5 Years to less than 8 Years | 6.75 | 6.9 |
| 8 years & above to 10 Years | 6.75 | 6.9 |
The highest interest rate for general citizens is 7.3%, hence for senior citizens, it comes to 7.3%+0.50%= 7.8%. For super senior citizens, it comes to 7.3%+0.65%=7.95%.
