For balances under ₹3 crore, Bank of India has raised interest rates on its medium- and long-term fixed deposits. The updated prices go into effect on May 18, 2026.
Revised Fixed Deposit Rates (Less than ₹3 Crore)
Tenure | General Public | Senior Citizens | Super Senior Citizens |
|---|---|---|---|
1 Year to < 2 Years | 6.50% | 7.00% | 7.15% |
2 Years to <3 Years | 6.60% | 7.10% | 7.25% |
3 Years | 6.70% | 7.20% | 7.35% |
Additional Benefits:
For deposits of 3 years and above, Senior Citizens will get an extra 0.75% p.a. and Super Senior Citizens 0.90% p.a. over the card rates.
Non-callable deposits (above ₹1 crore with minimum tenure of 1 year) will earn an additional 0.15% p.a.
Senior/Super Senior Citizen additional rates apply on tenures from 6 months to less than 3 years as per the new structure.
Important Notes:
Loan against Fixed Deposit facility and premature withdrawal are available only on callable deposits.
Customers can open these Fixed Deposits at any Bank of India branch or digitally through the BOI Omni Neo App and Internet Banking.
Why This Matters
With RBI’s repo rate stance and softening inflation, several banks are selectively hiking FD rates to attract longer-term deposits. Bank of India’s latest revision makes its 2-3 year deposits quite competitive, especially for senior citizens who can now earn up to 7.60% on longer tenures.
Best For:
Retirees looking for stable monthly/quarterly income
Conservative investors seeking safety with higher returns
Those planning to park funds for 1-3 years
Retail depositors are advised to compare rates across banks before booking, as small differences in rates can significantly impact returns on large deposits.
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