The interest rates of FDs of less than two crore rupees have been changed by the public sector Bank of India . Along with this, a special FD scheme Monsoon Deposit has been launched for 400 days. The maximum interest of 7.25 percent is being given by the bank on this special FD.
According to the bank’s website, the new interest rates have come into effect from July 28. FDs are being offered by the bank for a period ranging from 7 days to 10 years.
Bank of India FD interest rates
- On FD from 7 days to 45 days – 3.00 percent
- On FDs from 46 days to 179 days – 4.50 percent
- On FDs ranging from 180 days to 269 days – 5.00 percent
- On FDs from 270 days to less than one year – 5.50 percent
- On one year FD – 6.00 percent
- On FDs of one year one day to 399 days – 6.00 percent
- 400 days FD – 7.25 percent
- On FDs from 401 days to less than two years – 6.00 percent
- 2 years to less than 3 years on FD – 6.75 percent
- 3 years to less than 5 years on FD – 6.50 percent
- On FD from 5 years to 10 years – 6.00 percent
Senior citizens will get more interest
According to the information given on the bank’s website, senior citizens (60 years or more) will be given 0.25 percent interest in addition to 0.50 percent interest on FDs of 3 years or more. At the same time, in addition to 0.50 percent interest, 0.40 percent interest will be given to super senior citizens (80 years or more) for FDs of 3 years or more.
