Bank of India provides fixed deposits for different periods starting from 7 days to 10 years. The individual can also calculate interest rates on the Bank of India FD Calculator. The Bank of India deposit rates calculator is available on the official portal of the bank.
Bank of India provides various fixed deposit options from which the customer can choose depending upon their needs and convenience. Different FD options are – Short Deposits, Double Benefit Deposit, Monthly Deposit, Quarterly Deposit, and Star Sunidhi Tax-Saving Deposit.
Each Deposit is designed for a different type of customers and organizations to use fixed Deposit as an investment tool for their money and safeguarding their money. The FD rates for different deposits are given in detail in the tables below:
For Domestic Deposits:
   Period |
< Rs 2 Crore |
>Rs 2 Crore < Rs 10 Crore  |
Rs 10 Crore and above |
|||
General |
Senior Citizen |
|||||
General |
Senior Citizen |
General |
Senior Citizen |
|||
7 - 14 days |
3.25 |
3.75 |
3.00 |
- |
2.75 |
- |
15 - 30 days |
3.25 |
3.75 |
3.00 |
- |
2.75 |
- |
31 - 45 days |
3.25 |
3.75 |
3.00 |
- |
2.75 |
- |
46 - 90 days |
4.25 |
4.75 |
3.20 |
- |
2.75 |
- |
91-179 days |
4.25 |
4.75 |
3.25 |
- |
2.75 |
- |
180-269 days |
4.75 |
5.25 |
3.25 |
- |
2.75 |
- |
270 days to below1 year |
4.75 |
5.25 |
3.25 |
- |
2.90 |
- |
1 year and above but below 2 years |
5.25 |
5.75 |
3.50 |
- |
2.90 |
- |
2 years and above but below 3 years |
5.30 |
5.80 |
3.50 |
- |
3.00 |
- |
3 years and above but below 5 than 5 years |
5.30 |
5.80 |
3.50 |
- |
3.00 |
- |
5 years and above but below 8 years |
5.30 |
5.80 |
3.50 |
- |
3.00 |
- |
8 years and above but below 10 years |
5.30 Â |
5.80 |
3.50 |
 - |
3.00 |
- |
Tax Saver Fixed Deposits:
                Maturity Period |
        Deposit Amount |
                                      Interest rate |
|
     General |
 Senior Citizen |
||
Star Sunidhi Tax-Saving Deposit Scheme – 5 years to 10 years |
Up to 1 Lakh |
    6.50 |
       7.00 |
Allahabad Bank FD Interest Rates
Andhra Bank FD Interest Rates
Assam Gramin Vikash Bank FD Interest Rates
AU Small Finance Bank FD Interest Rates
Axis Bank FD Rates
Bajaj Finance FD Interest Rates
Bandhan Bank FD Interest Rates
Bangiya Gramin Vikash Bank FD Interest Rates
NRO Fixed Deposits:
     Period |
 < 2 Crore  |
 >2 Crore <10 Crore |
 Rs. 10 Crore and above |
7 - 14 days |
3.25 |
3.00 |
2.75 |
15 - 30 days |
3.25 |
3.00 |
2.75 |
31 - 45 days |
3.25 |
3.00 |
2.75 |
46 - 90 days |
4.25 |
3.20 |
2.75 |
91 - 179 days |
4.25 |
3.25 |
2.75 |
180 - 269 days |
4.75 |
3.25 |
2.75 |
270 days to below 1 year |
4.75 |
3.25 |
2.90 |
1 year but below 2 years |
5.25 |
3.50 |
2.90 |
2 years but below 3 years |
5.30 |
3.50 |
3.00 |
3 years but below 5 years |
5.30 |
3.50 |
3.00 |
5 years but below 8 years |
5.30 |
3.50 |
3.00 |
8 years but below 10 years |
5.30 |
3.50 |
3.00 |
In the chart above, the interest rates provided for various amounts are mentioned in detail. Customers can evaluate interest rates for their destined amount by using the information that is provided in the table above.
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Simple Interest and Compound Interest plays their part differently depending upon the period of time that the customer chooses. Simple Interests add benefits to Fixed Deposits less than 6 months of time. Interest is the percentage of the “principal” or the initial amount added to the principal over a defined period. Two types of interests are – Simple Interest and Compound Interest.
The types of interests are discussed in detail below:
I = (P* R* T)/100 , where,
Plan better with: SIP Calculator
The Bank of India FD Calculator determines the maturity value where the compounding frequency is quarterly. The formula below explains in detail how interests are calculated for deposits.
A = P *(1+ r/n) ^ (n*t), where,
The Bank of India FD Calculator needs a set of basic information about the individual and the deposit amount of the individual. The calculator can be used by visiting the official online portal of the bank. Suppose the user chooses an FD calculator for accessing the Bank of India's FD calculations. In that case, similar steps are to be followed while using the calculator on the bank's official website. Every step followed for using the FD Calculator is easy and simple.
Steps that are needed for using the Bank of India FD Calculator is given below:
Bank of India FD Calculator is available online and free to use. Â There are many advantages to using the online FD Calculator. Some of the benefits of the calculator are listed below:
There are even more advantages to using the FD Calculator. The main objective for the Bank of India deposit rates Calculator is to help the investor choose a deposit that suits their needs the best.
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023A1. Yes. The online FD Calculator of Bank of India is free to use and can be used as many times as the depositor wants to choose their desired deposit amount and time period.
A2. Fixed Deposit refers to the sum of money that is deposited on the bank for a particular time period as per the customer's wish. The customer gets interest from the bank on the deposited amount in monthly, half-yearly, quarterly or yearly frequencies.Â
A3. The minimum period for depositing an amount is 7 days and the maximum period for depositing an amount is as long as 10 years.Â
A4. Yes. Senior citizens receive a few points percentage greater than the general people.Â
A5. No. In a fixed Deposit, the bank pays interest to the depositor. Suppose the depositor cancels their Deposit before the mentioned period for which the amount has been deposited. In that case, the depositor has to pay some percentage of their deposited amount as a penalty for cancellation.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.Â
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.