Bank of India Fixed Deposit Rates 2025
Bank of India (BOI) offers various Fixed Deposit schemes. The bank offers short-term, medium-term and long-term FDs. Bank of India FD offers competitive interest rates and various other benefits such as loan/overdraft facility, nomination facility, etc.
The rates of interest offered by the bank start at 3.00% p.a. to 7.55% p.a. Senior citizens are eligible for an additional interest rate of 0.5%.
Bank of India Interest Rates for Domestic term deposits
Callable Domestic or NRO Term Deposits of Less Than Rs. 3 Crore
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
7 days to 14 days | 3.00% p.a. | 3.00%% p.a. |
15 days to 30 days | 3.00% p.a. | 3.00% p.a. |
31 days to 45 days | 3.00% p.a. | 3.00% p.a. |
46 days to 90 days | 4.50% p.a. | 4.50% p.a. |
91 days to 179 days | 4.25% p.a. | 4.25% p.a. |
180 days to 210 days | 5.75% p.a. | 6.25% p.a. |
211 days to 269 days | 5.75% p.a. | 6.25% p.a. |
270 days to less than 1 year | 5.75% p.a. | 6.25% p.a. |
1 year | 7.05% p.a. | 7.55% p.a. |
Above 1 year to less than 2 years (except 400 days) | 6.75% p.a. | 7.25% p.a. |
2 years | 6.75% p.a. | 7.25% p.a. |
Above 2 years to less than 3 years | 6.75% p.a. | 7.25% p.a. |
3 years to less than 5 years | 6.50% p.a. | 7.25% p.a. |
5 years to less than 8 years | 6.00% p.a. | 6.75% p.a. |
8 years and above to 10 years | 6.00% p.a. | 6.75% p.a. |
Note : The interest rates are applicable w.e.f. 15 April 2025.
Callable Domestic or NRO Term Deposits of Rs. 3 Crore and More to Less Than Rs. 10 Crore
Tenure | Rate of Interest for General Public |
7 days to 14 days | 4.50% p.a. |
15 days to 30 days | 4.50% p.a. |
31 days to 45 days | 4.50% p.a. |
46 days to 90 days | 5.25% p.a. |
91 days to 179 days | 5.75% p.a. |
180 days to 210 days | 6.25% p.a. |
211 days to 269 days | 6.50% p.a. |
270 days to less than 1 year | 6.50% p.a. |
1 year | 7.05% p.a. |
Above 1 year to less than 2 years (except 400 days) | 6.70% p.a. |
2 years | 6.50% p.a. |
Above 2 years to less than 3 years | 6.50% p.a. |
3 years to less than 5 years | 6.00% p.a. |
5 years to less than 8 years | 6.00% p.a. |
8 years and above to 10 years | 6.00% p.a. |
The interest rates are applicable w.e.f. 15 April 2025.
Bank of India (BOI) Tax Saving FD Rates - Star Sunidhi Tax Saving Deposit Scheme
Tenure | FD rates for General Public (p.a.) | FD Rates for Senior Citizens (p.a.) |
5 years to 10 years | 6.00% | 6.50% |
BOI Interest Rate for NRE Deposits
The interest rates for callable NRE fixed deposits are as follows:
Tenure | Rate of Interest for Deposits of Less than Rs. 3 Crore | Rate of Interest for Deposits of Rs. 3 Crore & Above but Less Than Rs. 10 Crore |
1 year | 7.05% p.a. | 7.05% p.a. |
Above 1 year to less than 2 years | 6.75% p.a. | 6.70% p.a. |
2 years | 6.75% p.a. | 6.50% p.a. |
Above 2 years to less than 3 years | 6.75% p.a. | 6.50% p.a. |
3 years to less than 5 years | 6.50% p.a. | 6.00% p.a. |
5 years to less than 8 years | 6.00% p.a. | 6.00% p.a. |
8 years & above to 10 years | 6.00% p.a. | 6.00% p.a. |
The interest rates for non-callable NRE fixed deposits are as follows:
Tenure | Rate of Interest for Deposits of Less than Rs. 3 Crore | Rate of Interest for Deposits of Rs. 3 Crore & Above but Less Than Rs. 10 Crore |
1 year | 7.20% p.a. | 7.20% p.a. |
Above 1 year to less than 2 years | 6.90% p.a. | 6.85% p.a. |
2 years | 6.90% p.a. | 6.65% p.a. |
Above 2 years to less than 3 years | 6.90% p.a. | 6.65% p.a. |
3 years to less than 5 years | 6.65% p.a. | 6.15% p.a. |
Note: The interest rates are applicable w.e.f. 15 April 2025.
Bank of India FCNR (B) Interest Rates
The BOI Foreign Currency Non to Resident (Bank) Deposit interest rates* for corresponding foreign currency** can be found below:
Tenure | USD | GBP | EUR | JPY | CAD | AUD |
1 year to less than 2 years | 5.35 | 4.85 | 2.75 | 0.20 | 3.00 | 4.25 |
2 years to less than 3 years | 4.00 | 2.50 | 1.50 | 0.20 | 2.50 | 4.00 |
3 years to less than 4 years | 3.35 | 2.50 | 1.00 | 0.20 | 2.27 | 4.00 |
4 years to less than 5 years | 3.25 | 2.50 | 0.75 | 0.20 | 2.27 | 4.00 |
5 years (Maximum) | 3.15 | 2.50 | 0.50 | 0.20 | 2.27 | 4.00 |
Note: The interest rates are applicable w.e.f. from 1 January 2025.
*GBP to Pound Sterling, USD to US Dollar, CAD to Canadian Dollar, JPY to Japanese Yen and AUD to Australian Dollar.
Features and Benefits of Bank of India (BOI) FD Schemes
- The tenure for fixed deposits offered by the Bank of India (BOI) is a minimum of 15 days and can go up to 10 years.
- Interest earned during the tenure can be withdrawn on a monthly or a quarterly basis.
- The facility of nomination is available on FD schemes
- Loans can be taken against the amount deposited (except for the tax saving FD scheme).
Eligibility Criteria and Documents Required
The following are eligible to invest in a Bank of India (BOI) Fixed Deposit Scheme:
- Individual — Single Accounts
- Two or more individuals — Joint Accounts
- Sole Proprietory 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
The following documents are required to start investing in a Bank of India (BOI) Fixed Deposit Scheme:
- Proof of Identity:
- PAN card
- Driving licence
- Aadhaar card
- Senior citizen ID (if applicable)
- Photo ID card issued by the government
- Passport
- Proof of Address:
- Utility bills such as electricity bill and telephone bill
- Passport
Type of Bank of India (BOI) Fixed Deposit Schemes
Bank of India (BOI) offers the following categories of Fixed Deposit Schemes:
FAQs for BOI Fixed Deposit Rates
- What is the minimum and maximum tenure range?
The minimum tenure is 7 days while the maximum tenure is 10 years.
- Can a customer open an FD account online in Bank of India (BOI)?
Yes. If you already have a BOI savings account and an active internet banking ID and password, this can be done by following a few simple steps.
- Does BOI offer extra benefits for senior citizens?
All senior citizens are eligible for higher interest rates when it comes to BOI FDs. However, the additional rates are applicable only to the investment tenures of 6 months and above.
- Can a customer change the tenure of the FD after opening the same?
It is not possible to change the tenure once an FD is opened. However, once the maturity period is completed, deposits can be renewed. A customer will have to wait till the maturity period to make any changes to the tenure.
- How to save tax on BOI FDs?
Customers can apply for a tax-saver FD scheme wherein the period of investment is a minimum of 5 years and maximum of 10 years and save tax.
- Do NRI have to pay tax on fixed deposits?
The interest on NRE and FCNR accounts is tax-free. However, the interest earned on NRO accounts is fully taxable.
- Is PAN mandatory to open an FD account? What are the consequences of not providing PAN card details?
PAN card is absolutely mandatory to open an FD account. If a customer fails to provide PAN card details, the following will be the consequences:
- A higher rate of TDS will be deducted, which will be at 20%, instead of 10%.
- The Income Tax department will not give the customer any TDS credit or issue a TDS certificate.
- Certain forms like 15G/H and other kinds of tax exemption certificates will become invalid.
- Is it possible to avail loan/overdraft facility against an FD?
A loan of up to 90% can be availed against a BOI FD.
- Is premature withdrawal facility available for BOI fixed deposit?
No, premature withdrawal facility is not available for BOI fixed deposits.
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