April 13, 2024

Bank of India increases Fixed Deposit Rates across all Maturities

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Mumbai, December 21, 2022: Bank of India, one of the largest Public Sector Banks in India, has revised interest rates upwards for all tenors with effect from 16th December, 2022 for deposits below Rs 2 crores. Following the revision bank offers rate of interest in the range of 3 % to 6.75 % for normal customers for deposits maturing in 7 days to 10 years. It provides an interest rate of 7.25 % for senior citizens for deposit period of 444 days and for tenor of 2 years to below 3 years. The revised interest rates are applicable for domestic, NRO and NRE deposits.Bank has also increased its FCNR deposit interest rates to up to 5.00% p.a.