Bank of India revises FD interest rates: Offers highest fixed deposit interest rate of 7.95% to these investors The new rates are applicable from August 1, 2024
Bank of India has revised its fixed deposit (FD) rates for amounts less than Rs 3 crore. After the revision, Bank of India offers interest rates from 3% to 7.30% for fixed deposits, as per the official website of Bank of India. The new rates are applicable from August 1, 2024.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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For senior citizens, the bank offers interest rates between 3% to 7.80% for tenure ranging from 7 days to 10 years. For super senior citizens, the bank offers highest interest rate of 7.95%.
Latest FD rates
Bank has hiked its rate for fixed deposits amounting to less than Rs.3 Crore and now offering 6.00% for 180 days to less than 1 year. Further, Bank has also hiked its rate for fixed deposits amounting Rs.3 Crore to less than Rs.10 Crore and now offering 6.50% for 180 days to 210 days and 6.75% for 211 days to less than 1 year.According to the press release, “Additional rate of interest of 0.65% on deposits of Super Senior Citizens and 0.50% on deposits of Senior Citizens below Rs. 3 Crore is offered for Fixed Deposits with maturity period of 6 months & above. Bank has continued its “666 Days - Fixed Deposit”, offering the best interest rate of 7.30% for customers & general public. Super Senior Citizen will get 7.95% p.a, Senior Citizen will get 7.80% p.a. under our 666 Days Fixed Deposit.”
MATURITY (FOR NRE RUPEE TERM DEPOSITS,
FOR DEPOSITS OF LESS THAN RS.3 CRFOR DEPOSITS OF RS.3 CR & ABOVE BUT LESS THAN RS.10 CRSMIN. TENOR IS 1 YEAR AND MAX. 10 YEARS)REVISED W.E.F 01.08.2024REVISED W.E.F 01.08.20247 days to 14 days34.515 days to 30 days34.531 days to 45 days34.546 days to 90 days4.55.2591 days to 179 days4.56180 days to 210 days66.5211 days to 269 days66.75270 days to less than 1 year66.751 Year6.87.25Above 1 Year to less than 2 Years (except 666 Days)6.86.75666 Days7.36.752 Years6.86.5Above 2 Years to less than 3 Years6.756.53 Years to less than 5 Years6.565 Years to less than 8 Years668 years & above to 10 Years66 Source: Bank website
Senior Citizen
Senior Citizen with age of 60 years & above but less than 80 years will be eligible for additional rate of interest of 0.50% on their deposit for the tenors of minimum 6 months & above (but less than 3 years). So, the highest rate offered would be 7.80% on 666 days tenure.
Super Senior Citizen
Super Senior Citizen with age of 80 years & above will be eligible for additional rate of interest of 0.65% on their deposit for the tenors of minimum 6 months & above (but less than 3 years). So, the highest interest rate offered would be 7.95% on 666 days tenure.
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This story originally appeared on: India Times - Author:Faqs of Insurances
