|CEO||Atanu Kumar Das|
|Listed on exchange as||Bank of India|
|Tenure||Regular customers||Senior citizens|
For a Bank of India FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 2.85% p.a. to 4.35% p.a. These deposits are known as short term deposits as their tenure is less than 1 year.
Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 5.10% – 5.15% p.a.
These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 5.15%.
A Bank of India FD account can be opened through different modes like Mobile App, Internet Banking, and offline.
1) Internet Banking
Follow the below-mentioned steps for opening a Bank of India FD account via internet banking-
2) Mobile App - Bank of India App
Follow the steps mentioned ahead to open an FD account via the Bank of India App-
3) Offline Bank of India FD Opening
For opening a Bank of India FD account via offline mode, one has to visit the nearest Bank of India branch. Fill out the Bank of India FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD receipt will be provided by the Bank of India.
The following individuals and businesses are eligible for Bank of India fixed deposit scheme.
NRIs can also invest in these schemes but only through NRE and NRO accounts.
Customers need to provide the following identification and address proof documents to initiate a Bank of India fixed deposit investment.
Proof of identity (Any One)
Proof of address (Any One)
What is the minimum amount needed to book a fixed deposit account with the Bank of India?
The minimum amount needed to open an FD with the Bank of India is Rs. 10,000.
What is the highest interest rate offered by the Bank of India?
The highest rate of interest offered by BOI at present is 5.15%. However, the Bank of India FD rates varies with tenure.
Who all are eligible to open an FD account with the Bank of India?
All resident individuals, Hindu Undivided Families, NRIs, firms as well as minors are eligible to open a fixed deposit account.
Can I get avail a loan against BOI Star Sunidhi Tax-Saving Deposit Scheme?
No. You cannot pledge the Star Sunidhi Tax-Saving Deposit Scheme certificate to get any loan or advance. The bank does not advance the facility until the account completes the lock-in period.
For joint accounts, are both the account holders eligible to get income tax benefits?
No. only the first account holder gets income tax benefits under Section 80C of the Income Tax Act, 1961.