Bank of India has updated its interest rates for short-term and medium-term fixed deposits, effective August 1. These revisions aim to offer more competitive returns to depositors, especially benefiting senior citizens.

Under the new rates, the bank’s highest interest rate of 8.10% per annum is offered on the 666 Days Fixed Deposit scheme for Super Senior Citizens within the Non-Callable Deposit scheme.

The revised rates apply to fixed deposits with tenures ranging from 180 days to less than a year. For deposits below Rs 3 crore, the interest rate has been increased to 6% per annum for tenures between 180 days and less than a year.

For deposits between Rs 3 crore and less than Rs 10 crore, the rates are as follows:

  • 180 days to 210 days: 6.50% per annum
  • 211 days to less than 1 year: 6.75% per annum

Bank of India has also introduced preferential rates for senior citizens. Super senior citizens receive an additional interest rate of 0.65%, while senior citizens enjoy an extra 0.50% on deposits below Rs 3 crore for fixed deposits with a maturity period of six months or more.

The bank continues to offer its popular ‘666 Days - Fixed Deposit’ scheme, with the following interest rates:

  • General public: 7.30% per annum
  • Senior citizens: 7.80% per annum
  • Super senior citizens: 7.95% per annum

Additionally, Bank of India provides loan facilities against fixed deposits and allows premature withdrawals, ensuring customers have financial flexibility and liquidity.

Depositors can open these revised fixed deposit schemes by visiting any Bank of India branch or through the BOI Omni Neo App and internet banking platform.