Senior Citizens Fixed Deposit Interest Rates in Bank of India
Updated on: Sep 4th, 2023
Bank of India has various schemes to safeguard and better serve its senior citizen customers. Financial security is paramount as you age, and BOI offers competitive interest rates for its senior citizens. Let’s look at the interest rates for senior citizen customers at BOI Bank.
FD Interest Rate for Senior Citizens by Bank of India
|Tenure||The interest rate for senior citizens (p.a.)|
|7 days to 14 days||3.50%|
|15 days to 30 days||3.50%|
|31 days to 45 days||3.50%|
|46 days to 90 days||5.00%|
|91 days to 179 days||5.00%|
|180 days to 269 days||5.50%|
|270 days to less than 1 year||6.00%|
|Above 1 Year to 399 Days||6.50%|
|400 days (Monsoon Deposit)||7.75%|
|401 days to less than 2 Years||6.50%|
|2 years to less than 3 Years||7.25%|
|3 years to less than 5 Years||7.00%|
|5 years to less than 8 Years||6.50%|
|8 years & above to 10 Years||6.50%|
Eligibility and Documentation Requirements
The only eligibility is that you must be 60 or above on the account opening date. The documentation is standard, just as it is for the general public FD, such as identity and address proofs.
Can I open a joint Senior Citizen FD with a non-senior citizen?
Yes, but the primary account holder must be a senior citizen to avail of the senior citizen interest rate.
Is there a minimum or maximum deposit amount for Senior Citizen FDs?
The minimum and maximum deposit amounts are generally determined by the specific FD scheme chosen and are the same for both regular and senior citizens.
Can Senior Citizen FDs be broken before maturity?
Yes, but there may be a penalty or reduced interest rate for premature withdrawal.
returns on FD
Lock in returns as high as
8.35% before they go down
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