Bank of India Fixed Deposit Interest Rates 2025 - Latest BOI FD Rates

A Bank of India FD lets you invest money for a fixed period and earn guaranteed returns at a fixed rate. BOI does not offer one universal rate. BOI FD rates depend on:

1. Tenure

   Rates vary from short-term deposits to long-term deposits. BOI's peak rates may be at select special tenures rather than the longest slabs.

2. Deposit size

   Retail deposits (<₹3 crore) and bulk deposits (≥₹3 crore) follow different schedules.

3. Customer category

   Senior citizens get higher rates (typically +0.50%), and super-seniors can get more on certain tenures.

4. Scheme type

   Special schemes like Star Swarnim or Green Deposit have separate pricing.

BOI fixed deposits are designed for safety with useful flexibility:

• Guaranteed returns: fixed deposit rate stays the same for your tenure.
• Wide tenure range: 7 days to 10 years.
• Low minimum deposit: typically from ₹1,000.
• Premature withdrawal: allowed on callable deposits with a penalty.
• Loan/Overdraft against FD: liquidity option without breaking your deposit.
• Nomination facility: ensures easy transfer to nominee.
• Auto-renewal: rollover option at maturity.

These benefits make BOI FDs suitable for both short-term parking and medium-term wealth build-up.

1. Regular / Domestic Fixed Deposit

The standard FD where you can choose:

• Cumulative FD (interest reinvested, paid at maturity)
• Non-cumulative FD (interest payout monthly/quarterly/etc.)

2. Senior Citizen Fixed Deposit

Resident seniors (60+) earn:

• ~0.50% extra over general slabs
• Highest senior slab up to 7.20% p.a. on special tenures

3. Tax Saver FD (Star Sunidhi Tax-Saving Deposit)

BOI's tax-saving FD qualifies for Section 80C benefit:

• Lock-in: 5 years
• Tax benefit: up to ₹1.5 lakh per year
• Rate (2025): around 6.00% p.a. for general and 6.75% p.a. for seniors

4. NRE / NRO Fixed Deposits (NRIs)

NRE FD: repatriable; NRO FD: for income earned in India (taxable).

NRE/NRO FD slabs are aligned to BOI's NRI schedules and may differ slightly from domestic slabs; senior-citizen uplift typically doesn't apply to NRE/NRO deposits.

Cumulative FD (Best for Growth)

• Interest compounds quarterly
• Maturity includes principal + interest
• Better for wealth-building goals.

Non-Cumulative FD (Best for Regular Income)

Interest payout frequency:

• Monthly
• Quarterly
• Half-yearly
• Yearly

Useful for retirees wanting steady cash flow.

For Indian Residents

To open a BOI FD, you generally need:

• PAN card (mandatory for most FDs)
• Aadhaar / Passport / Voter ID / Driving License (identity proof)
• Address proof if not covered by Aadhaar
• Recent photographs (branch route)

For NRIs (NRE/NRO Deposits)

NRIs typically need:

• Valid passport and visa / residence permit
• Overseas address proof
• Proof of NRI status (employment/student/residence documents)
• PAN (recommended for smooth Indian tax compliance)

Existing BOI savings account holders can often open FDs via internet banking with no fresh documents.

FD interest is taxable as Income from Other Sources.

TDS thresholds

• Regular citizens: TDS if interest exceeds ₹40,000 in a financial year
• Senior citizens: threshold ₹50,000

How to avoid TDS (if eligible)

Submit:

• Form 15G (regular)
• Form 15H (senior citizen)

Even without TDS, you must report FD interest in your ITR.

BOI allows premature closure on most callable FDs:

• Interest recalculated at the slab applicable for the tenure actually completed
• A penalty may be charged
• Tax saver FDs cannot be withdrawn early due to lock-in

Instead of breaking your FD, BOI lets you borrow against it:

• Loan limit: typically up to ~90% of FD value
• Interest: FD rate + small spread
• FD keeps earning interest while you access emergency funds.

1. Internet Banking
   • Login → Deposits → Open FD → choose amount & tenure → confirm.
2. BOI Mobile Banking
   • Term Deposit / FD → enter details → book FD.
3. Branch Visit
   • Fill FD form → submit KYC → deposit amount → collect FD receipt.