Bank of India increases Fixed Deposit Rates for 1 year tenor, offering upto 7.65 % for super senior citizens

Bank of India

Mumbai, May  2023: Bank of India, one of the leading public sector banks in India, has increased the interest rates for a 1-year tenor to 7.00% with effect from 26th May 2023 for retail customers(for less than Rs 2 crores deposits). Following the revision bank offers a rate of interest in the range of 3 % to 7.00 % for normal customers for deposits maturing in the range of 7 days to 10 years. It provides an interest rate of 7.50% for senior citizens and 7.65 % for super senior citizens for a deposit period of 1 year. The revised interest rates are applicable for domestic, NRO, and NRE deposits.