Bank of India provides higher interest rates for Fixed deposits. For a standard amount of less than a crore (which is the amount the major chunk of public invest being commoners), it offers the interest rates which are better than other banks.
The interest rate is 7.30 percent for a period of 1-5 years (even above 5 years) which can be considered good by less term investors and not so good by comparatively higher term investors because for just an year 7.30 percent is not bad at all but for 5 years it is considerably less.
For state bank of India: Sbi Fixed deposit Interest rates
Nevertheless, the rates offered are huge enough which compensate very well with the lack of liquidity prevailing with FDs. The rates are far greater than savings account interest rates in all the cases. Below rates are effective from 28 December, 2015.
Bank of India interest rates for Fixed deposits (Domestic / NRO):
|TIME PERIOD||INTEREST RATES|
|For Deposits Below 1 Crore||For Deposits 1-10 Crore|
|7 – 14 Days||4.00||4.25|
|15 – 30 Days||4.25||4.50|
|31 – 45 Days||4.25||4.50|
|46 – 60 Days||6.50||6.50|
|61 – 90 Days||6.50||6.50|
|91 Days – 180 Days||6.75||6.75|
|181 Days – 270 days||7.25||7.00|
|271 Days – 1 year||7.30||7.00|
|1 Year – 2 Years||7.30||7.00|
|2 Years – 3 Years||7.30||7.00|
|3 Years – 5 Years||7.30||7.00|
|5 Years – 10 Years||7.25||7.00|
Above 10 crore Deposits (Domestic/NRO deposits):
|Maturity Period||interest rate ( % p.a.)|
|270 days – 1 year||6.75|
|13 month – 2 years||6.75|
NRI Deposit Rates:
|Maturity Range||For Deposit below 1 crore||Deposit 1-10 crore||For deposit above 10 crore|
Table Updated: 8 January, 2016
- You have to contact branch for deposits above 10 crores for prior approval.
- Additional interest .50% is Payble to senior citizen and staff for deposits below one crore only.
- Additional rates is not given on NRE/NRO deposits.
These were Bank of India FD interest rates details. You can also compare it with all other Indian Banks Banks interest rates.
To get details in depth, check out official bank website link @ http://www.bankofindia.co.in/english/RupeeTermDeposit.aspx