Bank of India Fixed Deposit Interest Rates and Calcualtor

The BOI recently revised their rates on fixed deposit. Find the new interest rates and calculator to find exact return in 2016. The bank is a prominent public financial institution in India.It provides an appealing retail settled fixed return arrangements as fixed deposits. These FD plans are created to suit numerous investment schedules with holding periods that cover short term and long term goals.The fixed deposit rates are computed by taking into account the banks liquidity prerequisites and in addition market rate developments. Continuous revisions of bank policies make it troublesome for financial specialists to discover the maturity sums.

Fixed Deposit – Features

  • Short Term Fixed Deposit Rates

In accordance with what most banks provide their clients, the profits on BOIs briefest deposit term of 30 days remains at 4.5%. For fixed deposit accounts of 60 and 90 days, the cost is 1.5% higher at 6.5%. It increments to 7% for a holding term of 120 days and to 7.25% for a period of 6 months.The 9-month plan offers the most elevated interest rates of 7.75%.

  • Long Term Fixed Deposit Rates

Interest rates on the banks stores for terms of 1 year to less than 2 years at 7.75%. The rate diminished by 0.25% and is 7.5% for the residency 2 years to fewer than 5 years. It gets diminished by 0.25% to 7.25% for a term of more than 5 years.

  • Senior Citizen Fixed Deposit Rates

This bank offers senior citizens with a 0.5% upgrade on existing rates for tenors of 6 months or more. The rates stay unaltered for transient property of 30 to 120 days. All rates demonstrated above are on a yearly premise, configured, and intensified on a quarterly basis.


These are the eligibility requirements to open a fixed deposit account:

  • People
  • Joint account for 2 or more people
  • Association firms
  • Trusts
  • Minors
  • Blind individuals
  • Unskilled persons
  • Joint Hindu families
  • Restricted organizations and association firms
  • Regions and panchayats
  • Charity, religious, and educational foundations
  • Affiliations, social orders, clubs and so on.
  • Sole proprietary entity (more like Firm registered with Local Municipality)

Interest Rates

For fixed deposits that re below ₹ 1 crore, the interest gained is 4% to 8.25% for holdings of up to 1 year and 8.75% for residencies above 1 year. For deposits between ₹ 1 crore and ₹ 10 crores, the interest rate offered fluctuate between 4.25% 8.50% for residencies up to a year and are at 8.50% to 8.75% on fixed deposit accounts held between 1 to 10 years. For deposits that are above ₹ 10 crores, rates go as high as 8.75%.

Premature Withdrawal Rules And Charges

The bank allows premature withdrawal on fixed deposits. There are no set rules regarding premature withdrawal. There are no stiff penalties imposed if you intend to close your fixed deposit accounts even before it earns interest.In case a fixed deposit account is prematurely withdrawn by the client, the premium won’t be paid by rate in the fixed deposit contract; rather it will be computed for the term the fixed deposit has stayed with the bank.

BOI Interest Rates of Fixed Deposit

Duration Bank of India FD Interest Rate
For General For Senior Citizen
31 Days to 45 Days 4.25 4.25
46 Days to 90 Days 6.50 6.50
91 Days to 180 Days 6.50 7.00
181 Days to 270 Days 6.50 7.00
271 Days to 1 Years 6.90 7.40
1 Years to 2 Years 7.00 7.50
2 Years to 3 Years 7.00 7.50
3 Years to 5 Years 6.09 7.59

I have developed a user friendly term deposit calculator that you can use it here, just enter the amount, select period and choose the bank from the drop down menu.