BOI Capital Gains Account Scheme

The Capital Gains Account Scheme, 1988, offered by the Bank of India, allows taxpayers to defer capital gains tax on the sale of capital assets. This scheme applies to taxpayers who wish to claim tax exemptions under Section 54 for Capital Gains.

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BOI FD Interest Rates 2024

TENUREREGULAR RATES
Current Rates
SENIOR CITIZEN
7 days to 14 days3.00%3.00%
15 days to 30 days3.00%3.00%
31 days to 45 days3.00%3.00%
46 days to 90 days4.50%4.50%
91 days to 179 days (except 175 days)4.50%4.50%
175 days4.50%4.50%
180 days to 210 days5.50%6.00%
211 days to 269 days5.50%6.00%
270 days to less than 1 year5.75%6.25%
1 year6.50%7.00%
Above 1 year to less than 2 years6.50%7.00%
2 years7.25%7.75%
Above 2 years to less than 3 years6.75%7.25%
3 years to less than 5 years6.50%7.25%
5 years to less than 8 years6.00%6.75%
8 years to 10 years6.00%6.75%

FD Interest Rates for Deposits of Rs.10 Cr & Above W.E.F 14-05-2024

Maturity Buckets 10 Crore And Above But Less Than 50 Crore (%) 50 Crore And Above (%)
7 days to 14 days 6.25 6.25
15 days to 30 days 6.25 6.25
31 days to 45 days 6.35 6.35
46 days to 90 days 6.50 6.50
91 days to 120 days 6.75 6.75
121 days to 174 days 7.40 7.40
175 days 7.40 7.40
176 days to 179 days 7.40 7.40
180 days to 269 days 7.40 7.40
270 days to less than 1 Year 7.40 7.40
1 Year 7.50 7.50
Above 1 Year but less than 2 Years 7.15 7.15
2 Years and above but less than 3 Years 4.50 4.50
3 Years and above to less than 5 Years 4.50 4.50
5 Years and above to less than 8 Years 4.50 4.50
8 Years and above to 10 Years 4.50 4.50

Comparison Between
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
awards
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs

Annualized Rates

Below are the annualised rates for:

  • For deposits less than Rs.2 Cr

  • For deposits of Rs.2 Cr & above but less than Rs.10 Cr

Maturity Rate Of Interest % (P.A.)
For Deposits Less Than Rs.2 Cr
Annualized Rate Of Return At Minimum Of The Maturity Bucket %
For Deposits Less Than Rs.2 Cr
Rate Of Interest % (P.A.)
For Deposits Of Rs.2 Cr & Above But Less Than Rs.10 Cr
Annualized Rate Of Return At Minimum Of The Maturity Bucket %
For Deposits Of Rs.2 Cr & Above But Less Than Rs.10 Cr
180 days to 210 days 5.50 5.54 6.25 6.30
211 days to 269 days 5.50 5.54 6.50 6.61
270 days to less than 1 Year 5.75 5.83 6.50 6.61
1 Year 6.80 6.98 7.25 7.45
Above 1 Year to less than 2 Years 6.80 6.98 6.75 6.92
2 Years 7.25 7.73 6.50 6.88
Above 2 Years to less than 3 Years 6.75 7.16 6.50 6.88
3 Years to less than 5 Years 6.50 7.11 6.00 6.52
5 Years to less than 8 Years 6.00 6.94 6.00 6.94
8 Years & above to 10 Years 6.00 7.63 6.00 7.63

People also read: BOI FD Interest Rates

Rate For Senior Citizen Deposits Less Than Rs. 2 Cr. W.E.F 01.04.2024

Maturity For Deposits Of Less Than Rs. 2 Cr. For Senior Citizens (%) For Deposits Of Less Than Rs. 2 Cr. For Super Senior Citizens (%)
07 days to 14 days 3.00 3.00
15 days to 30 days 3.00 3.00
31 days to 45 days 3.00 3.00
46 days to 90 days 4.50 4.50
91 days to 179 days 4.50 4.50
180 days to 210 days 6.00 6.15
211 days to 269 days 6.00 6.15
270 days to less than 1 Year 6.25 6.40
1 Year 7.30 7.45
Above 1 Year to less than 2 Years 7.30 7.45
2 Years 7.75 7.90
Above 2 Years to less than 3 Years 7.25 7.40
3 Years to less than 5 Years 7.25 7.40
5 Years to less than 8 Years 6.75 6.90
8 Years & above to 10 Years 6.75 6.90

fd return beater

Annualised Rate For Senior Citizen Deposits for Less Than Rs. 2 Cr. W.E.F 01.04.2024

Maturity Rate Of Interest % (P.A.) For Senior Citizens Annualized Rate Of Return At Minimum Of The Maturity Bucket % * For Senior Citizens Rate Of Interest % (P.A.) For Super Senior Citizens Annualized Rate Of Return At Minimum Of The Maturity Bucket % * For Super Senior Citizens
180 days to 210 days 6.00 6.04 6.15 6.20
211 days to 269 days 6.00 6.04 6.15 6.20
270 days to less than 1 Year 6.25 6.35 6.40 6.50
1 Year 7.30 7.43 7.45 7.59
Above 1 Year to less than 2 Years 7.30 7.50 7.45 7.66
2 Years 7.75 8.30 7.90 8.47
Above 2 Years to less than 3 Years 7.25 7.73 7.40 7.90
3 Years to less than 5 Years 7.25 8.02 7.40 8.20
5 Years to less than 8 Years 6.75 7.95 6.90 8.16
8 Years & above to 10 Years 6.75 8.85 6.90 9.11

People also read: FD Interest Rates

What is the BOI Capital Gains Account Scheme?

Introduced in 1988, the Capital Gains Account Scheme by the Bank of India helps you defer capital gains tax. This scheme is beneficial if you've sold an asset and want to postpone paying tax on the profit (capital gains). You can deposit the proceeds from the sale into your Capital Gains Account. The scheme offers two account types: a regular savings account (without a cheque book) for easy access and a term deposit for potentially higher returns. Remember, this scheme is just one tool for tax planning, so consulting a tax advisor is recommended to see if it aligns with your situation.

Types of Accounts Under the BOI Capital Gains Account Scheme

  • Account A (Savings Bank): This functions like a regular savings account without a cheque book. It offers easy access to your deposited funds.

  • Account B (Term Deposit): This is a fixed deposit with two sub-options:

    • Cumulative: Interest earned is added to the principal amount periodically, leading to a higher overall return.

    • Non-cumulative: Interest earned is credited to a separate account and can be withdrawn periodically.

FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years

Features of BOI Capital Gains Account Scheme

  • Authorized Branches: Non-rural branches only (semi-urban, urban, and metro) can open Capital Gains Accounts.

  • Account Opening: To open a Capital Gains Account, you'll need to submit the following documents:

    • Form A (in duplicate) - The account opening form specifically for this scheme.

    • Proof of Address - Valid document verifying your residence address.

    • PAN Card copy - Your Permanent Account Number identification card.

    • Photograph - Recent passport-sized photograph.

    • HUF Letter (if applicable) - Unstamped letter for Hindu Undivided Families (non-trading) accounts.

  • Interest Rates: The interest rate offered depends on the chosen account type:

    • Account A earns the prevailing interest rate for regular savings accounts.

    • Account B earns interest based on Bank of India's prevailing Term Deposit Rates for the chosen term and sub-option (cumulative or non-cumulative).

People also read: FD Calculator

Rates for Senior Citizen Deposits

BOI offers additional benefits for senior citizens (over 60 years old) who are the first account holders:

  • Additional Interest Rate:

    • 0.50% p.a. extra on deposits between Rs. 5,000/- and Rs. 2 crore for terms of 6 months to 10 years.

    • 0.75% p.a. extra on deposits for 3 years or more.

  • Staff/Ex-Staff Senior Citizens: An additional 1.50% p.a. on top of the regular staff rate and senior citizen rate for deposits below Rs. 2 crore (applicable to term deposits of 6 months to 10 years).

Guaranteed return plan Guaranteed return plan

Rupee Term Deposit Rate - Additional Rate

Type Of Accounts Additional Staff Rate Applicable To Staff/Ex-Staff Additional Senior Citizen Rate Applicable To Senior Citizen/Ex-Staff Senior Citizen
HUF Not Applicable Not Applicable
Capital Gain Scheme Not Applicable Not Applicable
NRE/NRO Deposits Not Applicable Not Applicable

People also read: Which Bank is Best for Fixed Deposit

Rupee Term Deposit Rate - Penalty Details

Category Of The Deposits Penalty On Premature Withdrawal Of The Deposit
Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months NIL
Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months 0.50%
Deposits of Rs. 5 Lacs & above withdrawn prematurely 1.00%

Early Closure:

  • No penalty if the deposit is prematurely closed for renewal for a longer term than the remaining original term.

  • No penalty for withdrawal due to the depositor's death.

  • No penalty for withdrawal by bank staff, ex-staff, senior staff/ex-staff, or spouse of deceased staff (if first account holder).

  • Penalty applies for premature closure of Capital Gain Account Scheme deposits.

TDS on Term Deposits:

  • TDS applies to the interest earned on the total deposits across all branches.

  • This includes recurring deposits (RDs) as well.

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