Bank of India (BOI) hikes FD rates, non-senior citizens can get up to 7.15% on this tenor2 min read 02 Apr 2023, 02:35 PM IST
The public sector lender Bank of India (BOI) has hiked interest rates on fixed deposits (FDs) of less than ₹2 Cr.
The public sector lender Bank of India (BOI) has hiked interest rates on fixed deposits (FDs) of less than ₹2 Cr. The bank presently offers interest rates ranging from 3.00% to 6.00% on deposits that mature in 7 days to 10 years. After the modification, the bank raised interest rates on "Shubh Arambh Deposits," special term deposits with a duration of 501 days, for deposits under ₹2 crore. The new rates will take effect on April 1, 2023, according to a press statement from the Bank of India. When it comes to the "Shubh Arambh Deposits" programme, BOI gives an interest rate of 7.65% for additional senior citizen customers, 7.15% for regular customers, and 7.8% under a special, time-limited programme for super senior citizen customers.