Bank of India (BOI) has revised its fixed deposit (FD) interest rates, effective from September 1, 2024.
The updated rates range from 3% to 7.75%, depending on the FD tenure, which varies from 7 days to 10 years.
These rates apply to deposits up to Rs 3 crore. BOI aims to attract more customers by offering competitive interest rates.
If you’re looking to invest your savings securely and profitably, consider taking advantage of these new rates.
New Fixed Deposit Scheme: ‘Star Dhan Vriddhi’
BOI has introduced a new fixed deposit scheme called ‘Star Dhan Vriddhi’ with a tenure of 333 days. The interest rates for this scheme are:
General Public: 7.25%
Senior Citizens: 7.75%
Super Senior Citizens: 7.90%
This scheme is ideal for investors seeking higher returns over a short period.
Interest Rates on Fixed Deposits
For Deposits Less Than Rs 3 Crore
7 days to 14 days: General Public – 3%, Senior Citizens – 3.50%
15 days to 30 days: General Public – 3%, Senior Citizens – 3.50%
31 days to 45 days: General Public – 3%, Senior Citizens – 3.50%
46 days to 90 days: General Public – 4.50%, Senior Citizens – 5%
91 days to 179 days: General Public – 4.50%, Senior Citizens – 5%
180 days to 210 days: General Public – 6%, Senior Citizens – 6.50%
211 days to 269 days: General Public – 6%, Senior Citizens – 6.50%
270 days to less than 1 year: General Public – 6%, Senior Citizens – 6.50%
333 days (Star Dhan Vriddhi): General Public – 7.25%, Senior Citizens – 7.75%
1 year: General Public – 6.80%, Senior Citizens – 7.30%
More than 1 year and less than 2 years: General Public – 6.80%, Senior Citizens – 7.30%
2 years: General Public – 6.80%, Senior Citizens – 7.30%
More than 2 years and less than 3 years: General Public – 6.75%, Senior Citizens – 7.25%
More than 3 years and less than 5 years: General Public – 6.50%, Senior Citizens – 7.00%
Above 5 years and below 8 years: General Public – 6.00%, Senior Citizens – 6.50%
Above 8 years and up to 10 years: General Public – 6.00%, Senior Citizens – 6.50%
For Deposits from Rs 3 Crore to Rs 10 Crore
7 days to 14 days: 4.50%
15 days to 30 days: 4.50%
31 days to 45 days: 4.50%
46 days to 90 days: 5.25%
91 days to 179 days: 6.00%
180 days to 210 days: 6.50%
211 days to 269 days: 6.75%
270 days to less than 1 year (excluding 333 days): 6.75%
333 days (Star Dhan Vriddhi): 6.75%
1 year: 7.25%
More than 1 year to less than 2 years: 6.75%
2 years: 6.50%
More than 2 years to less than 3 years: 6.50%
3 years to less than 5 years: 6.00%
5 years to less than 8 years: 6.00%
8 years and above up to 10 years: 6.00%
Record Number of New Fund Offers (NFOs)
Mutual fund houses are expected to raise record amounts through new fund offers (NFOs) this year. This week alone, nine new NFOs are set to launch.
