Bank of India hikes interest rates on short term and medium term fixed deposits

Bank of India has announced a revision in interest rates for its short-term and medium-term fixed deposits, effective from August 1. The bank has increased rates for deposits under Rs. 3 crore to 6.00% for tenures ranging from 180 days to less than a year. For deposits between Rs. 3 crore and less than Rs. 10 crore, the rates are now 6.50% for 180-210 days and 6.75% for 211 days to less than a year.
The bank continues to offer an attractive rate of 8.10% per annum on its 666 Days Fixed Deposit for super senior citizens under the Non-Callable Deposit scheme. Additionally, super senior citizens receive an extra 0.65% interest, while senior citizens are offered an additional 0.50% on deposits below Rs. 3 crore with a maturity period of six months or more. The general public can avail of a 7.30% interest rate on the 666 Days Fixed Deposit, with super senior citizens and senior citizens receiving 7.95% and 7.80%, respectively.
Loans against fixed deposits and premature withdrawal facilities are available. Customers can open fixed deposits through any Bank of India branch or via the BOI Omni Neo App and internet banking.