FD rates revised in this public sector bank: Up to 7.8% interest on senior citizen FDs; up to 7.3% rate for others
Bank of India has recently revised its fixed deposit interest rates. The revised interest rates are applicable for FDs below Rs 3 crore. Also, note that the bank has discontinued the FD of a special tenure of 333 days.#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;} The revised FD rates have been effective from September 27, 2024.
Here’s the latest FD rates by Bank of India
Bank of India is offering a 3% interest rate on FDs maturing between 7 days and 45 days. On FDs maturing between 46 days and 179 days the bank is offering a 4.5% interest rate. The bank is offering a 6% interest rate on FDs maturing between 180 days and less than one year. The bank is offering a 6.8% interest rate on FDs maturing between one year and less than two years (except 400 days). The bank is offering 7.3% on FDs maturing in 400 days. For FDs maturing in two years, the bank is offering 6.8%. For FDs maturing between more than two years and less than three years, the bank is offering a 6.75% interest rate. For FDs maturing between three years and less than five years, the Bank of India is offering 6.5% interest rate. For FDs maturing between five years and less than eight years, the bank is offering a 6% interest rate. For FDs maturing between more than eight years and ten years, the bank is offering a 6% interest rate.Table showing interest rates for general citizens:
Maturity periodInterest rate7 days to 14 days315 days to 30 days331 days to 45 days346 days to 90 days4.591 days to 179 days4.5180 days to 210 days6211 days to 269 days6270 days to less than 1 Year61 Year6.8Above 1 Year to less than 2 Years (except 400 Days)6.8400 days7.32 Years6.8Above 2 Years to less than 3 Years6.753 Years to less than 5 Years6.55 Years to less than 8 Years68 years & above to 10 Years6
Bank of India senior citizen FD interest rates
According to the Bank of India website as of September 28, 2024 here are the guidelines for higher interest rate for senior and super senior citizens:
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By - Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Basics of Generative AI : Unveiling Tomorrow's Innovations
By - Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By - Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By - Metla Sudha Sekhar, Developer and Lead Instructor
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, Developer and Lead Instructor
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, Developer and Lead Instructor
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, Developer and Lead Instructor
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By - Metla Sudha Sekhar, Developer and Lead Instructor
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, Developer and Lead Instructor
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of domain experience, trainer
Leadership
Business Storytelling Masterclass
By - Ameen Haque, Founder of Storywallahs
Marketing
Future of Marketing & Branding Masterclass
By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant
HR
Human Potential and the Future of Employment
By - Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader
Strategy
ESG and Business Sustainability Strategy
By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader
Finance
Financial Reporting and Analytics
By - Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi
Senior Citizens with the age of 60 years (completed) & above but less than 80 years will be eligible for an additional rate of interest of 0.50% on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of minimum 6 months & above (but less than three years). Senior Citizens are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.50% ROI on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of three years & above and up to 10 years. In such cases, the effective eligibility of additional ROI will be 0.75% p.a.Super Senior Citizens the age of 80 years (completed) & above will be eligible for an additional rate of interest of 0.65% on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of minimum six months & above (but less than three years). Super Senior Citizens are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.65% ROI on their Retail Term Deposits (Less than Rs. 3 Cr) for the tenors of three years & above and up to 10 years. In such cases, the effective eligibility of additional ROI will be 0.90% p.a.Maturity periodSenior citizensSuper senior citizens07 days to 14 days3315 days to 30 days3331 days to 45 days3346 days to 90 days4.54.591 days to 179 days4.54.5180 days to 210 days6.56.65211 days to 269 days6.56.65211 days to 269 days6.56.65270 days to less than 1 Year6.56.651 Year7.37.45Above 1 Year to less than 2 Years (except 400 Days)7.37.45400 Days7.87.952 Years7.37.45Above 2 Years to less than 3 Years7.257.43 Years to less than 5 Years7.257.45 Years to less than 8 Years6.756.98 years & above to 10 Years6.756.9
The highest interest rate for general citizens is 7.3%, hence for senior citizens, it comes to 7.3%+0.50%= 7.8%. For super senior citizens, it comes to 7.3%+0.65%=7.95%.
#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;}
This story originally appeared on: India Times - Author:Faqs of Insurances
