Bank of India FD Interest Rates 2021 – BOI Fixed Deposit Rates

Check out the Bank of India FD Rates

Bank of India is offering multiple fixed deposit options for its customers on their surplus savings for a fixed tenure. For this, the customers need to make a single time deposit to their FD account at the time of opening an account with the bank. These customers don’t need to deposit more money and cannot withdraw any money in the account during the period of depositing the money into the account. The fixed deposit of the bank of India is considered to have a higher rate of interest in comparison to their saving deposits. 


  • The interest on the deposit is calculated for the completed months. 
  • There is proper nomination facility available. 
  • Loan or overdraft up to 90 percent deposit is available. 

FD and its details:-

Investment period 

FD rates for regular deposits 

FD rates for senior citizens 

7 days to 14 days 


15 days to 30 days 

31 days to 45 days 

46 days to 90 days 5.75% 5.75% 
91 days to 120 days 6.00 % 6.50%
121 days to 179 days 6.25%6.75%
180 days to 364 days 6.60 %7.10%

2 years to 2 years 364 days 
6.50% 7.00%

3 years to 4 years 364 days 
6.30 % 6.80%

5 years to 10 years 



Premature Withdrawing Process

There is facility of premature closure of term deposit with the bank of India that is along with lower interest rate of 0.50%. This is liable with deposits less than Rs 5 lakh and 1 % for deposits above Rs 5 lakh than that of contracted rate. The penal provisions for the premature closure on Bank of India FD that are subjected to change from time to time and can also deposit the schemes. 

Loan Against Fixed Deposit

The bank of India is offering with loan up to 90% against own deposit. The bank of India is not offering any loan against the FD of any other bank. Loan is offered against FD at the rate of 5% to 7.7%. the minimum loan tenure is restricted to maximum tenure of FD. 

Documents Required Opening Fixed Deposit Accounts

Various documents required to open fixed deposit account in the bank of India are like:-

  • Identity proof like PAN card, voter ID card, passport, driving license. 
  • Address proofs like telephone bill, electricity bill, bank statement with cheque. 

The customer is required to open the FD account at the time of opening the account with the bank. There is no facility to deposit more of money and withdraw any money in the account during the tenure of deposit. Interest rate to the account is calculated for the completed months and not for half of the month. 

Note: – RBI is the deciding authority for the changes in any kind of FD rates of interest occurring from time to time. The FD interest rates are liable to change on notification from the Reserve Bank of India with defined formats. 

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