This government bank will give bumper interest on 12 months FD, good news for customers

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Bank of India has changed the interest rates on fixed deposits of less than Rs 2 crore. After the change in interest rates, the bank is now offering 3.00% to 6.00% interest on fixed deposit schemes with tenure ranging from 7 days to 10 years. The bank pays interest at a maximum rate of seven per cent on fixed deposits maturing within one year. According to the official website of Bank of India, the new interest rates for fixed deposits have come into effect from 26 May 2023.

Interest on deposits for 7 to 45 days

The bank is offering three per cent interest on deposits maturing in the next 7 to 45 days. At the same time, the bank is paying interest at the rate of 4.50 percent on deposits maturing in the next 46 to 46 to 179 days. Bank of India pays interest at the rate of 5.00 per cent on FDs with maturity of 180 days to 269 days. The bank is offering an interest rate of 5.50 per cent on FDs with tenures ranging from 270 days to less than a year.

highest interest

Bank of India offers the highest interest on Fixed Deposits maturing in one year (12 months). Interest will be given at the rate of seven percent on FD of this period. At the same time, the bank is offering interest at the rate of 6.00 per cent on fixed deposits maturing in one year or more and less than two years. The bank is paying interest at the rate of 6.75 per cent on FDs of two years and less than three years. Bank of India is paying interest at the rate of 6.50 per cent on FDs ranging from three years to less than five years. At present, the bank is paying interest at the rate of 6.00 per cent on deposits of five to 10 years.

Additional interest for senior citizens

According to Bank of India, senior citizens will get an additional 25 bps interest on their retail term deposits (less than Rs 2 crore) in addition to the existing 50 bps. This interest rate will be available for a period of three years and above. Now Bank of India is offering an additional interest rate of 75 basis points for three year TDs to its senior customers.