Friday, December 1, 2023

Bank of India Increases Fixed Deposit Rates For Various Tenor

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.

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