Bank of India introduces new FD tenure with highest interest rate of 7.5%
Along with this, the bank has reduced FD interest rate by 100 bps (1%) on 1 year tenure from 7% to 6%. Following the revision, the bank offers a rate of interest in the range of 3 per cent to 7.5 per cent to general customers for deposits maturing between 7 days and 10 years.
Bank of India latest FD interest ratesThe bank offers an interest rate of 3 per cent for deposits maturing between 7 days and 45 days for general citizens. Deposits maturing between 46 days and 179 will fetch an interest rate of 4.50%. The bank offers an interest rate of 5.00 per cent on deposits maturing between 180 days and 269 days. The bank pays an interest rate of 5.50 per cent on deposits maturing between 270 days and less than one year. Deposits with a one-year maturity period will receive interest at a rate of 6% from 7% earlier. The bank has introduced new tenure of 400 days, which offers highest interest rate of 7.50%. It offers a 6% interest rate on fixed deposit terms lasting between one year and two years. The bank offers an interest rate of 6.75 percent for FDs with maturities of 401 days to less than 2 Years. The bank offers 6.75% on tenure of 2 Years to less than 3 Years. After the revision, the bank offers 6.50% on 3 Years to less than 5 Years and 6% after that.
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TenureREVISED W.E.F 28.07.20237 days to 14 days315 days to 30 days331 days to 45 days346 days to 90 days4.591 days to 179 days4.5180 days to 269 days5270 days to less than 1 year5.51 Year6Above 1 Year to 399 Days6400 days (Monsoon Deposit)7.25401 days to less than 2 Years62 Years to less than 3 Years6.753 Years to less than 5 Years6.50#5 Years to less than 8 Read more on economictimes.indiatimes.com
