Bank of India Double Benefit Term Deposit - Star Double Benefit Term Deposit

The Bank of India Double Benefit Term Deposit (Star Double Benefit Term Deposit) is a fixed deposit scheme offering high returns and flexibility. You can choose a deposit term between 6 months and 10 years and benefit from interest compounded quarterly, which means you earn interest on your interest. This leads to a higher overall return compared to regular fixed deposits.

Guaranteed Returns

Includes Life Cover

Completely Tax Free+

3 Benefits, 1 Plan

Maximum returns offered by:

6.9%^* (Tax-Free)

Guaranteed Plan

(By Insurance companies)

4.6%^* (After Tax)

Fixed Deposit

(Offered by Banks)

4.0%^*

Savings Account

(Post Office)

Get Guaranteed returns upto 6.9%*

Fully Tax-Free, Life Cover Included

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BOI FD Interest Rates 2026

FD Interest Rates for Deposits of Rs.10 Cr & Above

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

People also read: BOI FD Interest Rates

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

Rate For Senior Citizen Deposits Less Than Rs. 2 Cr.

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

People also read: FD Interest Rates

Annualised Rate For Senior Citizen Deposits for Less Than Rs. 2 Cr.

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

What is Bank of India Double Benefit Term Deposit - Star Double Benefit Term Deposit?

The Bank of India Double Benefit Term Deposit - Star Double Benefit Term Deposit is a fixed deposit scheme offered by the Bank of India that provides attractive returns on your investment. It's ideal for those seeking to grow their savings over a fixed period and benefit from compounded interest.

People also read: FD Calculator

Key Features of BOI Double Benefit Term Deposit - Star Double Benefit Term Deposit

Higher Yields: Due to the quarterly compounding of interest, you can earn a higher return on your principal deposit than with regular fixed deposits.
Flexible Terms: Choose a deposit term that suits your needs, ranging from 6 months to 10 years.
Interest Payment at Maturity: The principal amount and accumulated interest are paid together at the deposit's maturity.

FD interest rates India have fallen consistently over the last 12 years.

Invest in Plans that offer Guaranteed Returns for over 25 Years

Who can Open an Account Under BOI Double Benefit Term Deposit - Star Double Benefit Term Deposit?

A wide variety of individuals and organizations can open a BOI Star Double Benefit Term Deposit account, including:

Individuals (single or joint accounts)
Businesses (sole proprietorships, partnerships, limited companies)
Special Cases (illiterate persons, blind persons, minors with a guardian)
Organizations (associations, clubs, societies, trusts, government bodies, religious institutions, educational institutions)

Minimum Investment for BOI Double Benefit Term Deposit - Star Double Benefit Term Deposit

The minimum investment amount varies depending on your location and age:

Metro & Urban Branches: Rs. 10,000/- minimum
Rural & Semi-Urban Branches: Rs. 5,000/- minimum (Rs. 5,000/- minimum for senior citizens in all branches)

Exceptions: The minimum amount criteria does not apply to deposits made under government-sponsored schemes, margin money, earnest money deposits, and court-ordered deposits.

Deposit Period For BOI Double Benefit Term Deposit

Deposit Duration and Amount

Deposits in the Double Benefit Deposit Scheme are accepted for a fixed term ranging from six months to a maximum of 120 months. Upon maturity, these deposits are repaid with interest compounded quarterly. They may also be accepted for periods with incomplete terminal quarters or half-years.

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Interest Payment For BOI Double Benefit Term Deposit

Interest is disbursed along with the principal amount at maturity, compounded quarterly.
TDS is applicable to interest payments, and depositors must provide a PAN number for applicable accounts.
Depositors have the option to request premature withdrawal of their deposits, adhering to directives issued by the Reserve Bank of India.

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).

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

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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ ˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

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