Finance News : Bank of India Fixed Deposit Interest Rate for Senior Citizens

Bank of India Regular Fixed Deposit Rates

After the most recent revision, the general public sector lender is now providing the next rates of interest on fastened deposits to most of the people.

Maturity Buckets Interest Rates In %
7 days to 14 days 2.85
15 days to 30 days 2.85
31 days to 45 days 2.85
46 days to 90 days 3.85
91 days to 179 days 3.85
180 days to 269 days 4.35
270 days to lower than 1 12 months 4.35
1 Year & above however lower than 2 Years 5.00
2 years & above to lower than 3 years 5.05
3 years & above to lower than 5 years 5.05
5 years & above to lower than 8 years 5.05
8 years & above to 10 years 5.05
Source: Bank Website

Fixed deposit interest rate for senior citizens

On deposits of as much as Rs.2 crore for a interval of 6 months and as much as 10 years, Bank of India supplies a 0.50 % p.a. further fee of curiosity over and above card charges to most of the people. Senior residents will now get the next rates of interest on their deposits, publish the current revision of the financial institution.

Maturity Buckets Interest Rates In %
7 days to 14 days 2.85
15 days to 30 days 2.85
31 days to 45 days 2.85
46 days to 90 days 3.85
91 days to 179 days 3.85
180 days to 269 days 4.85
270 days to lower than 1 12 months 4.85
1 Year & above however lower than 2 Years 5.50
2 years & above to lower than 3 years 5.55
3 years & above to lower than 5 years 5.55
5 years & above to lower than 8 years 5.55
8 years & above to 10 years 5.55
Source: Bank Website

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Bank of India Rates On Fixed Deposits

In case of untimely withdrawal, Bank of India will impose the next penalty charges on deposits made by depositors. The financial institution is not going to levy a penalty for untimely withdrawals of Term Deposits owing to the dying of the depositor/s, in addition to untimely withdrawals of Term Deposits made by staff, ex-employees, employees/ex-staff senior residents, and the partner of a lifeless worker as a main depositor.

Category of the deposits Penalty on untimely withdrawal of the deposit
Deposits lower than Rs. 5 Lacs withdrawn on or after completion of 12 months NIL
Deposits lower than Rs. 5 Lacs withdrawn prematurely earlier than completion of 12 months 0.50%
Deposits of Rs. 5 Lacs & above withdrawn prematurely 1.00%
Source: Bank Website

 

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