Bank of India FD Interest Rates 2022 – 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 a 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 a facility for premature closure of term deposits with the bank of India that is along with a 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 the contracted rate. The penal provisions for the premature closure of Bank of India FD are subject to change from time to time and can also deposit the schemes. 

Loan Against Fixed Deposit

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

Documents Required Opening Fixed Deposit Accounts

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

  • Identity proof like PAN card, voter ID card, passport, and driving license. 
  • Address proofs like telephone bill, electricity bill, and bank statement with a 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 money and withdraw any money in the account during the tenure of the deposit. The interest rate on 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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