Bank of India, has announced to hike interest rates on its short term & medium term Fixed Deposits. The revised rates are effective from 1st August, 2024. 

“BOI has upward revised the interest rates on its short term & medium term Fixed Deposits of tenure ranging from 180 days to less than 1 year and continued to offer highest rate of 8.10% p.a. on its 666 Days Fixed Deposit under Non-Callable Deposit for Super Senior Citizen,” the PSU Bank said in a release. 

Bank has hiked its rate for Fixed Deposits amounting less than Rs.3 Crore and now offering 6.00% for 180 days to less than 1 year. 

Further, Bank has also hiked its rate for Fixed Deposits amounting Rs.3 Crore to less than Rs.10 Crore and now offering 6.50% for 180 days to 210 days and 6.75% for 211 days to less than 1 year. 

Additional rate of interest of 0.65% on deposits of Super Senior Citizens and 0.50% on deposits of Senior Citizens below Rs. 3 Crore is offered for Fixed Deposits with maturity period of 6 months & above. 

“Bank has continued its “666 Days – Fixed Deposit”, offering the best interest rate of 7.30% for customers & general public. Super Senior Citizen will get 7.95% p.a, Senior Citizen will get 7.80% p.a. under our 666 Days Fixed Deposit. Loan against Fixed Deposit and Premature Withdrawal facility is also available. Customers can visit any Bank of India branch or use the BOI Omni Neo App / internet banking to open Fixed Deposits with Bank of India,” said BOI.