Fixed Deposit Rates increased by Bank Of India w.e.from 01.05.2022 . BOI is offering 0.75% extra interest to senior Citizens.
The public sector Lender Bank of India (BOI) has made interest rate revision on fixed deposits of As per the bank’s website bankofindia.co.in new rates are effective from May 1, 2022, and the bank is now offering the following rate of interest as a result of the revision in Deposit Rates .
The bank will now provide 2.85 % interest rate on domestic term deposits with maturities ranging from 7 to 45 days. The new interest rate on deposits maturing in 46 days to 90 days and 91 days to 179 days is 3.85 per cent. Fixed deposits maturing in 180 days to 269 days and 270 days to less than one year will be 4.35 % . The interest rate on Rupee Term Deposits maturing in 1 year and above but less than 2 years will be 5.00 per cent, while the interest rate on deposits maturing in 2 years and above but less than 10 years will be 5.20 per cent.
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ROI Chart is given below for ready reference :
7 days to 14 days: 2.85*
15 days to 30 days: 2.85
31 days to 45 days: 2.85
46 days to 90 days: 3.85
91 days to 179 days: 3.85
180 days to 269 days: 4.35
270 days to less than 1 year: 4.35
1 Year & above but less than 2 Yrs: 5.00
2 years & above to less than 3 years: 5.20
3 years & above to less than 5 years: 5.20
5 years & above to less than 8 years: 5.20
8 years & above to 10 years: 5.20
*Minimum Deposit Rs.1 Lakh
# 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.
Please note that above rates are applicable for Fixed Deposit of Max Rs. 2 Cr Only