Bank of India (BOI) has updated interest rates on fixed deposits of not as much as Rs 2 Cr and saving bank depsoits. As per the bank’s site, the declaration was made on Sunday, May 1, 2022.
New FD interest rates
The public area loan specialist will currently give a 2.85 percent interest rate on domestic term deposits of not as much as Rs 2 crore with maturities going from 7 to 45 days. The ongoing interest rate on deposits maturing in 46 days to 90 days and 91 days to 179 days is 3.85 percent.
Fixed deposits maturing in 180 days to 269 days and 270 days to short of what one year will currently bring 4.35 percent premium from the Bank of India.
The interest rate on Rupee Term Deposits maturing in 1 year or more however under 2 years will be 5.00 percent.
Look at the new rates below.
7 days to 14 days – 2.85%
15 days to 30 days – 2.85%
31 days to 45 days – 2.85%
46 days to 90 days 3.85%
91 days to 179 days – 3.85%
180 days to 269 days – 4.35%
270 days to under 1 year – 4.35%
1 Year and above yet under 2 Yrs – 5%
2 years and above to under 3 years – 5.2%
3 years and above to under 5 years – 5.2%
5 years and above to under 8 years – 5.2%
8 years and above to 10 years – 5.2%
Investment account interest rates
As indicated by the Bank of India (BOI) site, premium is determined on day to day items and will be credited in the SB A/c on a quarterly premise in the long periods of May, August, November and February, individually consistently or at the hour of shutting of the SB A/c subject to least Re 1.
As of May 1, 2022, BOI will give the accompanying interest rate on investment funds bank deposits.
Up to Rs 1.00 lakhs – 2.75%
Above Rs 1.00 lakhs – 2.9%
