Bank of India has introduced a new 'Super Special Fixed Deposit' to celebrate the New Year. The scheme has a maturity period of 175 days and will offer an interest rate of 7.5% per annum for the period.
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The Mumbai-based bank said that this is a "high-yielding avenue for HNIs and corporates to deploy their surplus funds for the short term."
"The special fixed deposit is for domestic rupee term deposit only. The special fixed deposit is introduced as a limited period offer," the bank said.
The plan covers amounts between ₹2 crore and ₹50 crore.
Here are the FD rates offered by Bank of India on deposits of less than ₹2 crore and above:
| Maturity Buckets | FD rates for general public for deposits less than ₹2 crore | FD rates for general public for deposits more than ₹2 crore but less than ₹10 crore |
|---|---|---|
| 7 days to 14 days | 3.00% | 4.50% |
| 15 days to 30 days | 3.00% | 4.50% |
| 31 days to 45 days | 3.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.25% |
| 91 days to 179 days(except 175 days) | 4.50% | 6.00% |
| 175 days(New Bucket) | 4.50% | 7.50% |
| 180 days to 210 days | 5.50% | 6.25% |
| 211 days to 269 days | 5.50% | 6.50% |
| 270 days to less than 1 year | 5.75% | 6.50% |
| 1 Year | 6.50% | 7.25% |
| Above 1 Year to less than 2 Years | 6.50% | 6.75% |
| 2 Years | 7.25% | 6.50% |
| Above 2 Years to less than 3 Years | 6.75% | 6.50% |
| 3 Years to less than 5 Years | 6.50% | 6.00% |
| 5 Years to less than 8 Years | 6.00% | 6.00% |
| 8 years & above to 10 Years | 6.00% | 6.00% |
(Source: Bank of India)
(Edited by : Anshul)
First Published: Jan 2, 2024 4:50 PM IST
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