The Fact Maker

Bank of India Increases Fixed Deposit Rates for Various Tenor

Bangalore: Bank of India, one of the leading public sector banks in India, has increased rates of its fixed deposits for its customers & general public (for Rs 2 Crs & above to less than Rs.10 Crs) in maturity of “46 days to up to 1 Year” with effect from 1st Dec, 2023.

Bank has increased its fixed deposit rates for shorter period i.e. “46 days to 90 days” tenure to 5.25%, for “91 days to 179 days” tenure to 6.00%, for “180 days to 210 days” tenure to 6.25%, for “211 days to less than 1 Year” tenure to 6.50% and for “1 Year” tenure to 7.25% p.a. The present rate of interest offered by the Bank is competitive, offering a very attractive return for investment from HNIs, Small & Mid Corporates, NRIs & Professionally Self Employed etc.  

With effect from 1st Nov, 23, bank had already increased rate of all deposits for amount of “Less than Rs.2 Crs” for 2 Year tenure. Here, Bank is offering its highest rate of interest up to 7.90% for super senior citizen, 7.75% for senior citizen and 7.25% for others for 2 Year Term. The revised interest rates are applicable for domestic, NRO and NRE Rupee Term deposits.