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Bank of India (BOI) has announced a key update for its fixed deposit (FD) customers in which the bank has withdrawn its special 400-day fixed deposit scheme that offered an attractive interest rate of up to 7.30%. Alongside this, Bank of India has revised interest rates across various FD tenures. These new rates will be effective from April 15, 2025.
Bank of India new FD interest rates For fixed deposits less than Rs. 3 crore, the updated Bank of India FD interest rates are as follows:
91 days to 179 days: 4.25%
180 days to less than 1 year: 5.75%
1 year: 7.05%
Above 1 year to 2 years: 6.75%
The rates remain competitive, especially for bulk deposits, though slightly lower than previous offerings. This aligns with other public sector banks following the RBI repo rate cut in early April 2025. Additional Interest for Senior and Super Senior Citizens To cater to senior citizens, Bank of India continues to offer preferential interest rates
The rates remain competitive, especially for bulk deposits, though slightly lower than previous offerings. This aligns with other public sector banks following the RBI repo rate cut in early April 2025.
Additional Interest for Senior and Super Senior Citizens To cater to senior citizens, Bank of India continues to offer preferential interest rates
Senior Citizens (below ₹3 crore): Additional 0.50% interest on FDs of 6 months & above
Super Senior Citizens: An Additional 0.65% interest on the same tenure These benefits make BOI fixed deposits for senior citizens a relatively attractive savings option despite the overall rate reduction.
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