Bank of India launches 444 days term deposit scheme, know how much will be the benefit

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New Delhi. Bank of India (BOI) on Thursday launched a term deposit scheme of 444 days with an interest rate of 5.5 per cent per annum. The bank will pay 0.5 percent additional interest annually to the senior citizen. The bank said that this special term deposit scheme has been started on account of the 117th Foundation Day of the bank held on September 7, 2022. The purpose of the bank is to pass on the benefit of changes in the policy rates of the Reserve Bank of India to its customers and common people.

According to the bank, this offer is available across all branches of the bank, internet banking and online platforms including BOI mobile app. However, this offer is for a limited period only. The bank has said that it is striving to serve all sections of the society. All possible measures have been taken at the central level to help customers like entrepreneurs, self-employed, farmers along with salary.

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More profit in 3 year deposit
With this, Bank of India has increased its Return on Investment (ROI) by 40 basis points i.e. 0.4 per cent on term deposits of various tenors. The bank has said that senior citizens will be paid an additional premium of 0.25 per cent in addition to the existing 0.5 per cent for all tenures of 3 years and above on term deposits of less than Rs 2 crore.

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FD interest rates of Bank of India
Bank of India is giving interest at the rate of 2.85 percent on a minimum fixed deposit of Rs 1 lakh maturing in 7 to 14 days. At the same time, on deposits of 15 to 30 days, 31 to 45 days, this rate is only 2.85 percent. At the same time, the interest rate on deposits of 46 to 60 days to 179 days is 3.85 percent. The interest rate is 4.35 per cent for a period ranging from 180 days to less than 1 year. The interest rate on deposits of 1 year to 443 days is 5.3 percent per annum. If you make a deposit in the bank for a period of 3 years to 10 years, then you will get interest at the rate of 5.35 percent.

Tags: Bank FD, BoI, Business news in hindi, FD Rates, Fixed deposits

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