Bank of India (BOI) offers fixed deposit schemes that help you put that lump sum amount you have saved over a period. Also, you can earn interest on the amount deposited. There are multiple FD schemes for you to choose from based on your goals and requirements. Usually, the higher the tenure, the higher the interest rate.
Find out all the relevant details on Bank of India FD schemes here.
RBI has announced a new rule applicable to unclaimed, matured FD accounts. That is the funds in an unclaimed, matured FD account will attract an interest rate as applicable to the savings account or the contracted rate of the matured FD, whichever is lower.
This is the Latest FD Interest Rates 2025 for Bank of India
Fixed Deposit Interest Rates 2025 of Bank of India
The interest rates provided in the table below are applicable to deposits below Rs.3 crore and is effective from 1 September 2024:
| Deposit Tenure | Interest Rates for General Customers (% p.a.)* | Interest Rates for Senior Citizens (% p.a.)* |
| 7 days to 14 days | 3.00 | 3.00 |
| 15 days to 30 days | 3.00 | 3.00 |
| 31 days to 45 days | 3.00 | 3.00 |
| 46 days to 90 days | 4.50 | 4.50 |
| 91 days to 179 days | 4.50 | 4.50 |
| 180 days to 210 days | 6.00 | 6.50 |
| 211 days to 269 days | 6.00 | 6.50 |
| 270 days to less than 1 year | 6.00 | 6.50 |
| 333 days (Star Dhan Vriddhi) | 7.25 | 7.75 |
| 1 year | 6.80 | 7.30 |
| Above 1 year to less than 2 years | 6.80 | 7.30 |
| 2 years | 6.80 | 7.30 |
| Above 2 years to less than 3 years | 6.75 | 7.25 |
| 3 years to less than 5 years | 6.50 | 7.25 |
| 5 years to less than 8 years | 6.00 | 6.75 |
| 8 years to 10 years | 6.00 | 6.75 |
*Interest rates are subject to change from time to time.
Different Types of Bank of India FD Schemes
Double Benefit Term Deposit
Ideal for short to medium-term investments (12–120 months), this scheme offers higher returns with quarterly compounded interest. Both principal and accrued interest are paid at maturity.
Fixed Deposit/Short Term Deposit
Requires a linked savings account. Interest is paid after 6 months and credited to the savings account, earning additional interest. Short-term deposits are for tenures under 6 months, with interest calculated based on the actual number of days.
Quarterly/Monthly Deposit
Earn fixed monthly interest on your investment. Choose quarterly or monthly payouts credited to a savings/current account or recurring deposit. Minimum deposit: Rs.10,000 (metro/urban), Rs.5,000 (rural/semi-urban), or Rs.5,000 for senior citizens.
Super Special Deposit Account
For High Net-Worth Individuals (HNI), Trusts, HUFs, and companies, this scheme offers high returns with safety and liquidity. Minimum deposit: Rs.2 crore, maximum: Rs.50 crore. Tenure: 175 days.
Current Deposits Plus Scheme
Combines current and short-term deposits with a 'sweep-in' and 'sweep-out' facility. Requires a minimum quarterly balance of Rs.5,00,000 in the current account and Rs.1,00,000 in the short deposit. Sweep transactions occur on 1st and 16th of the month.
Non-Callable Deposits
Offers higher interest rates with no premature closure. Tenure: 1 to 3 years. Minimum deposit: Rs.1 crore. These deposits have a lock-in feature.
Motor Accident Claimant Annuity Deposit (MACAD)
Facilitates compensation disbursement to road accident victims, who receive monthly instalments (principal + interest) in the MACT SB account for easy access to funds.
Bank of India FD Special Features and Benefits
- The minimum tenure for FD is 7 days, and the maximum tenure is 10 years.
- Choose the FD scheme based on your requirements.
- Open tax-saving deposits to save on income tax.
- Interest can be paid out monthly, quarterly, half-yearly, or at the end of the tenure.
- Premature withdrawal is allowed subject to certain conditions.
- Nomination facility is available.
- Advance facilities may not be available on all schemes.
Basic Eligibility Criteria for Bank of India FD
- Individual — Single Accounts
- Two or more individuals — Joint Accounts
- Sole Proprietary Concerns
- Partnership Firms
- Illiterate Persons
- Blind Persons
- Minors
- Limited Companies
- Associations, Clubs, Societies, etc.
- Trusts
- Joint Hindu Families (accounts of non-trading nature only)
- Municipalities
- Government and Quasi-Government Bodies
- Panchayats
- Religious Institutions
- Educational Institutions (including Universities)
- Charitable Institutions
Documents Required
- Recent photograph
- Proof of Address
- Passport
- Aadhaar card
- Bank statement with a cheque
- Proof of Identification
- Passport
- PAN card
- Voter ID
- Driver’s license
- Aadhaar card
Tax Benefits on Bank of India Fixed Deposit
Capital Gain Tax Saving Scheme
Launched under the Capital Gains Accounts Scheme, 1988, this scheme allows taxpayers to claim exemption under Section 54 for capital gains. Available at non-rural branches, it can be opened in semi-urban, urban, and metro branches with a savings and term deposit account.
Star Sunidhi Deposit Scheme
This long-term savings scheme offers income tax benefits under Section 80C of the Income Tax Act, 1961. Individuals and HUFs with a PAN can open an account. The minimum deposit is Rs. 10,000, with a maximum of Rs. 1.5 lakh per year. The lock-in period is 5 years, extendable to 10 years, with interest rates similar to regular-term deposits. Premature withdrawal is not permitted, and nomination facilities are available at all bank branches in India.
FD Interest Rate Calculator
Visit our easy-to-use FD calculator page to predict the returns you may receive upon putting your money in a fixed deposit account.