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** Disclaimer: Bank of India has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.


Bank of India is among the most-trusted public sector banks in India. This renowned bank offers a wide range of banking and financial services to its customers, including a range of fixed deposits like short-term FDs, medium-term FDs, and long-term FDs. You can also avail a ton of other services like loans and overdraft facilities, and enjoy attractive Bank of India FD interest rates .


BOI refers to its FDs as Term Deposits. You can open fixed deposits (or term deposits) in the Bank of India across a wide range of tenors from 7 days to 10 years as per your financial requirements. The Bank of India FD interest rates are also highly competitive, starting at around 2.85% per annum and going up to 5.35% per annum.

BOI FD Interest Rates

Fixed Deposits are a great way to save up for the future. Bank of India offers exciting interest rates for both senior and non-senior citizens. Bank of India FD interest rates for senior citizens are 0.50% higher when compared to non-senior citizens.


Here’s a look at the Bank of India FD interest rates for different schemes:


BOI FD Interest rate per annum on deposits less than Rs. 2 crore

BOI FD Interest rate per annum on deposits more than Rs. 2 crore but less than Rs. 10 crore

7 days to 14 days



15 days to 30 days



31 days to 45 days



46 days to 60 days



61 days to 90 days



91 days to 179 days



180 days to 269 days



270 days to less than 1 year



1 year to 443 days



444 days



445 days to less than 2 years



2 years to less than 3 years



3 years to less than 5 years



5 years to less than 8 years



8 years to 10 years



Disclaimer: The Bank of India FD Interest Rates mentioned above are valid as of 23-06-2022 for deposits less than 2 crore and 20-08-2022 for deposits more than 2 Crores but less than 10 crore. These rates are subject to change as per bank’s policies.

BOI FD Interest Rate for a Rs. 1 Lakh FD

Fixed Deposits provide an investor with the opportunity to gain periodic interest payouts based on the tenor chosen. At an interest of 2.85%, with a 30-day tenor, Bank of India offers a non-senior citizen Rs.237 as monthly interest on a ₹1 Lakh FD.


Listed below are the Bank of India interest rates for FD of Rs.1 Lakh against different tenors offered by the bank:


Interest Rate

Maturity Amount

Interest Amount

7 to 45 days


Rs.1,00,055- Rs. 1,00,351

Rs. 55- Rs.351

46 to 179 days


Rs. 1,00,485 - Rs.1,01,897

Rs. 485 - Rs.1,897

180 to 364 days


Rs. 1,02,156- Rs. 1,04,409

Rs. 2,156 - Rs.4,409

Disclaimer: The aforementioned BOI FD interest rates are valid for deposits of upto 2 crore w.e.f. 23-06-2022

Features and Benefits of Bank of India FDs

The Bank of India FD has a number of features and benefits that makes it an efficient fixed deposit to invest in. Some of them are listed below:



Bank of India offers a wide range of tenors to choose from that start at 7 days and go up to 10 years

The interest earned during a particular tenor can be withdrawn either on a monthly or on a quarterly basis

Bank of India FDs have a nomination facility

Loan against FD facility is available on the deposited amount

How to Book an FD in Bank of India

You can choose to open a Bank of India FD online through the internet banking portal or offline by visiting the Bank’s nearest branch.


To Book a BOI FD Online follow these steps:


  • Login to the official website of Bank of India

  • Enter Username and Password

  • In the homepage, select the ‘Fixed Deposit’ tab

  • Fill in required details and click on ‘Confirm’ once you verify

  • You will be able to see a confirmation message on your screen


To Book a BOI FD Offline follow the steps listed below:


  • Visit the nearest Bank of India branch

  • Fill in all required fields in the FD Application form provided

  • Submit all necessary documents

  • Deposit your money

  • Collect your FD Receipt

Eligibility Criteria and Documents Required to Book an FD in Bank of India

Entities listed below are eligible to open an FD in the Bank of India:


  • Individuals (single accounts)

  • Two or more Individuals (group accounts)

  • Sole proprietors

  • Partnership firms

  • Illiterate people

  • Blind people

  • Limited Companies

  • Minors

  • Associations, Clubs, Societies etc.

  • Joint Hindu Families (Only non-trading accounts)

  • Trusts

  • Government and Quasi-Government Bodies

  • Panchayats

  • Charitable Institutions

  • Religious Institutions

  • Educational Institutions

The Documents you will have to submit to Book a BOI FD as are follows:

  • Proof of Identity

-Aadhar Card

-PAN Card


-Driving License

-Government-issued Photo ID Card

-Senior Citizen Card (if applicable)

  • Proof of Address


-Utility bills (Electricity or Telephone bill)


Additionally, you may also be asked to submit the following documents:

  • Bank account statement

  • Age proof (birth certificate)

Different Types of FD Schemes Offered:

We’ve seen what the Bank of India FD interest rates are like. Now, let’s take a look at the types of FD schemes offered by the Bank of India.

  • Fixed/Short-term Deposit Scheme

This is a non-cumulative FD wherein the interest is paid half-yearly, i.e. on October 1 and April 1. Under this scheme, investors can choose a short-term tenor of just 7 days, or a fixed-term ranging from 1 to 10 years. Premature withdrawal is also permitted without penalty in case the amount is withdrawn after 12 months. In case of withdrawal before 12 months, a penalty is applicable at the rate of 0.5% on deposits below ₹5 Lakhs, and at the rate of 1% on deposits above Rs. 5 Lakhs.

  • Double Benefit Term Deposit

The tenor of the Double Benefit Term Deposit ranges from 6 months to 120 months. This makes the product suitable for people looking for short-term and medium-term investment options. In this cumulative deposit scheme from Bank of India, interest is compounded on a quarterly basis. However, it is only paid out at maturity.

  • Star Sunidhi Tax-Saving Deposit Scheme

The minimum deposit amount under this scheme is ₹10,000 while the maximum is ₹1,50,000. The tenor ranges from 5 years to 10 years, and no premature withdrawal is permitted up to 5 years. Additionally, this deposit also gives you benefits under section 80C of the Income Tax Act, 1961.

These attractive Bank of India FD interest rates, coupled with a range of fixed deposit schemes, offer investors a viable avenue to park their money. While the highest rate of interest on FDs offered by Bank of India comes in at around 5.30% per annum, the fixed deposits available on Bajaj Markets offer even higher interest rates. In fact, with interest rates going as high as 7.75% per annum. FDs available on Bajaj Markets are highly lucrative investment options that give better returns than what most other banks and financial institutions offer.


  • ✔️What are the FD interest rates offered by the Bank of India?

    The Bank of India FD interest rates vary depending on the tenor of the deposit.Broadly speaking, they range from 2.85% per annum to 5.35% per annum. Also, the Bank of India senior citizen FD rates are higher by 0.50% per annum. 

  • ✔️What is the minimum deposit amount for FDs in the Bank of India?

    Bank of India offers different types of fixed deposits. So, the minimum amount that you need to deposit in your FD varies based on the FD scheme you choose. In case of the standard fixed deposit, the minimum amount is ₹10,000 in metro and urban branches and ₹5,000 in rural and semi-urban branches.

  • ✔️What is the tenor range for FDs in the Bank of India?

    Like the minimum deposit amount, the tenor of the FD also depends on the type of fixed deposit you choose. Broadly speaking, however, the tenor of standard FDs in the Bank of India ranges from 7 days to 10 years. 

  • ✔️What documents are required to open an FD with the Bank of India?

    To open an FD in the Bank of India, you will need the following documents as an individual- Proof of identity, like your PAN card, Voter ID, Aadhaar card, or Passport, Proof of address, like your telephone bill or electricity bill, Age proof, such as your birth certificate or school certificate, Bank details & Passport-size photograph.

  • ✔️Does the Bank of India allow Premature Withdrawal of FD?

    Yes, Bank of India does allow premature withdrawal of FDs. However, a penalty of 0.50% will be charged on deposits less than Rs. 5 Lakhs and a penalty of 1% will be charged for deposits over Rs. 5 Lakhs.

  • ✔️What is a BOI FD Calculator?

    The BOI FD Calculator can be used to calculate your total earnings at maturity over your chosen rate of interest and tenor.

  • ✔️In how many years will my FD in BOI double?

    You can either use a BOI FD Calculator to calculate this or simply divide 72 by the highest rate offered by the bank. In this case, the highest rate is 5.35% per annum. So, the number of years in which your FD will double is 13.45 years (72 divided by 5.35).

  • ✔️What is the Bank of India FD Interest Rate on a fixed deposit of ₹1 Lakh in BOI?

    The Bank of India FD interest rates vary based on the tenor of the deposit. So, whether you invest ₹1 lakh or any other amount, the interest rate is decided based on the tenor of the fixed deposit scheme. The rate of interest ranges from 2.85% per annum to 5.35% per annum.