Bank of India Interest Rates on FD, Oct 2016

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Last Updated 24th Oct 16

TenureInterest Rate
30 Days4.25%
45 Days 4.25%
60 Days 6.50%
90 Days 6.50%
120 Days 6.75%
6 Months 7.25%
9 Months 7.30%
12 Months 7.30%
18 Months 7.30%
2 Years 7.30%
3 Years 7.30%
4 Years 7.30%
5 Years 7.25%
7 Years 7.25%
10 Years 7.25%

Bank of India FD Interest Rates

  • Bank of India offers FD interest rates upto 7.30% per annum.
  • Interest on deposits with Bank of India is typically compounded quarterly.
  • Bank of India accepts deposits starting at Rs. 5000 for various tenures.
  • For senior citizens (age more than 60 years), Bank of India offers 0.50% higher interest rate over and above rates mentioned below.

Bank of India Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Bank of India pays applicable ROI for actual duration of deposit.

Loan against Bank of India FD

  • Bank of India offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Bank of India Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Bank of India, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Bank of India in your city - Find Bank of India Branches here

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  • Bank of India FD rates with other banks in India

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News - Oct 2016
27th Oct 16 Punjab National Bank reduces lending rates by 0.05 percent from November 1st, 2016
Punjab National bank has reduced their Marginal Cost Lending Rates (MCLR) by 0.05 percent. The one year MCLR has reduced to 9.25 percent. The three and five year MCLR has reduced to 9.40 percent and 9.55 percent. Similarly, the overnight and three months MCLR has reduced to 9 percent and 9.15 percent. These rates will be effective from 1st November, 2016.
27th Oct 16 Kotak Mahindra Bank net profit in second quarter rises by 43 percent, NPA reduces marginally
Kotak Mahindra Bank reported an increase in its net profit by 43 percent to Rs. 813 crore in the June to September quarter as compared to the net profit of Rs. 570 crore during the same corresponding period a year ago. The gross non performing assets are reduced to 2.49 percent in September as compared to 2.50 percent in June.
26th Oct 16 HDFC Bank net profit in second quarter rises up by 20.4 percent, asset quality remains stable
HDFC Bank reported an increase in its net profit by 20.4 percent to 3,455.3 crores for July to September quarter as compared to Rs. 2,869.5 crore in the corresponding period a year ago. The increase in profitability is to due to the increase in net interest income, other income, and operating profit. Net interest income grew by 19.6 percent to Rs.7,993 crores in July to September quarter. The asset quality remained stable but net interest margin declined sequentially.
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
25th Oct 16 Axis Bank Q2 net profit down by 21.3 percent, bad loans rise
Axis Bank reported a downfall in its net profit by 21.3 percent to Rs. 1,555 crore for June to September quarter due to high rise in bad loans. The number of bad loans spiked to 88.7 percent. The net profit of the bank was Rs. 1,978 crore during the corresponding period in the last fiscal year.