Bank of India has revised its fixed deposit (FD) interest rates. According to the latest Bank of India FD rates, the bank is offering 4.25 per cent interest rate on maturity period of 7-14 days to the general public on FDs below Rs 2 crore. On maturity periods such as 31-45 days and 46-60 days, the bank is offering an interest rate of 4.25 per cent and 5.50 per cent respectively to the general public. On fixed deposits of a one-year maturity period, the bank is offering interest at the rate of 6.5 per cent on fixed deposits below Rs 2 crore to the general public. (Also read: SBI Offers Repo-Linked Home Loan Starting At 8.05% Interest Rate )
Here are the interest rates applicable to Bank of India's fixed deposits (FD) below Rs 2 crore with effect from September 1, according to bankofindia.co.in:
| Tenor | Interest rates |
|---|---|
| 7 days to 14 days | 4.25% |
| 15 days to 30 days | 4.25% |
| 31 days to 45 days | 4.25% |
| 46 days to 90 days | 5.5% |
| 91 days to 179 days | 5.75% |
| 180 days to 269 days | 6% |
| 270 days to less than 1 year | 6% |
| 1 Year & above but less than 2 Yrs | 6.5% |
| 2 years & above to less than 3 years | 6.5% |
| 3 years & above to less than 5 years | 6.5% |
| 5 years & above to less than 8 years | 6.5% |
| 8 years & above to 10 years | 6.35% |
Fixed deposit interest rates are subject to change from time to time. Last month, State Bank of India (SBI) reduced its FD rates by 10-50 basis points (or 0.10-0.50 percentage point) across tenors in retail segment and bulk segment saw a reduction of 30-70 basis points (or 0.30-0.70 percentage point). HDFC Bank and Punjab National Bank (PNB) also revised its fixed deposit (FD) interest rates recently.
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