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BOI Monthly Deposit - Star Monthly Income Fixed Deposit
BOI Monthly Deposit is a scheme offered by Bank of India where individuals can deposit funds on a monthly basis, to accumulate savings or generate a stable monthly income through interest payments.
Returns as high
as 6.9%*
Includes life cover
Completely Tax free+
as 6.9%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
6.9%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
6.9%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns up to 6.9%*
Fully Tax-Free* (unlike FD), Life Cover Included
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Home
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FD Interest Rates
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BOI FD Interest Rates
- BOI Monthly Deposit - Star Monthly Income Fixed Deposit
BOI FD Interest Rates 2025
Bank of India FD Rates on Domestic / NRO Term Deposits (Callable)
| Maturity Period | < ₹3 Cr (% p.a.) | ₹3 Cr – < ₹10 Cr (% p.a.) |
| 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 | 4.25 | 5.75 |
| 180 days to 210 days | 5.50 | 6.00 |
| 211 days to 269 days | 5.50 | 6.00 |
| 270 days to less than 1 Year | 5.50 | 6.00 |
| 1 Year | 6.50 | 6.50 |
| Above 1 Year to less than 2 Years (excl. 450 Days) | 6.45 | 6.25 |
| 450 Days (Star Vaibhav) | 6.70 | 6.25 |
| 2 Years to less than 3 Years | 6.40 | 6.00 |
| 3 Years to less than 5 Years | 6.25 | 5.50 |
| 5 Years to less than 8 Years | 6.00 | 5.50 |
| 8 Years & above to 10 Years | 6.00 | 5.50 |
*Bank of India FD interest rates w.e.f. June 16, 2025
Bank of India FD Rates on Domestic/NRO Deposits (Non-Callable)
| Maturity Period | > ₹1 Cr to < ₹3 Cr (p.a.) | ₹3 Cr to < ₹10 Cr (p.a.) |
| 1 Year | 6.65 | 6.65 |
| Above 1 Year to less than 2 Years (except 450 Days) | 6.60 | 6.40 |
| 450 Days (Star Vaibhav) | 6.85 | 6.40 |
| 2 Years to less than 3 Years | 6.55 | 6.15 |
| 3 Years | 6.40 | 5.65 |
*Bank of India FD interest rates w.e.f. June 16, 2025
Bank of India FD Rates for Deposits Below ₹3 Cr (Callable) – Senior & Super Senior Citizens
| Maturity Period | Senior Citizens (% p.a.) | Super Senior Citizens (% p.a.) |
| 7 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 | 4.25 | 4.25 |
| 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 | 6.00 | 6.15 |
| 1 Year | 7.00 | 7.15 |
| Above 1 Year to less than 2 Years (excl. 450 Days) | 6.95 | 7.10 |
| 450 Days (Star Vaibhav) | 7.20 | 7.35 |
| 2 Years to less than 3 Years | 6.90 | 7.05 |
| 3 Years to less than 5 Years | 6.25 | 6.25 |
| 5 Years to less than 8 Years | 6.00 | 6.00 |
| 8 Years & above to 10 Years | 6.00 | 6.00 |
*Bank of India FD interest rates w.e.f. June 16, 2025
You can also compare these rates with Recurring Deposit interest rates for better liquidity.
Information About
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Returns After Tax
6.9%*
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
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
*For annual premium upto ₹5 Lacs
What is BOI Monthly Deposit - Star Monthly Income Fixed Deposit?
BOI Monthly Deposit is a savings scheme offered by the Bank of India. Here’s how it works:
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You deposit a fixed amount every month.
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You can choose to receive interest monthly at a discounted rate or quarterly at the actual rate.
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The maximum deposit term is 10 years.
It's a good option for those who want to save regularly and earn interest on their accumulated amount.
Types of Accounts That Can Be Opened Under BOI Monthly Deposit - Star Monthly Income Fixed Deposit
BOI Monthly Deposit accounts can be opened by a wide range of individuals and entities, including:
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Single accounts or joint accounts with two or more individuals.
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Sole proprietorships, partnership firms, and limited companies.
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Accounts can be opened for illiterate persons, blind persons, minors (with a guardian), trusts, and joint Hindu families (non-trading only).
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Associations, clubs, societies, municipalities, government and quasi-government bodies, Panchayats, religious institutions, educational institutions, and charitable institutions.
FD interest rates India have fallen consistently over the last 12 years.
BOI Monthly Deposit - Amount to be Invested
The minimum investment amount varies depending on your location and age:
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Metro & Urban Branches: Rs. 10,000/- minimum
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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.
People also read: FD Calculator
BOI Monthly Deposit - Payment of Interest
BOI Monthly Deposit offers flexible interest payout options:
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Monthly Interest: Receive interest every month at a discounted value.
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Quarterly Interest: Receive interest every quarter at the actual rate. In this case, the deposit will be treated as a fixed deposit with quarterly interest payouts.
The maximum deposit period for the scheme is 10 years.
Rates for Senior Citizen Deposits
BOI offers additional benefits for senior citizens (over 60 years old) who are the first account holders:
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Additional Interest Rate:
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0.50% p.a. extra on deposits between Rs. 5,000/- and Rs. 2 crore for terms of 6 months to 10 years.
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0.75% p.a. extra on deposits for 3 years or more.
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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 |
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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:
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No penalty if the deposit is prematurely closed for renewal for a longer term than the remaining original term.
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No penalty for withdrawal due to the depositor's death.
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No penalty for withdrawal by bank staff, ex-staff, senior staff/ex-staff, or spouse of deceased staff (if first account holder).
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Penalty applies for premature closure of Capital Gain Account Scheme deposits.
TDS on Term Deposits:
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TDS applies to the interest earned on the total deposits across all branches.
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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
˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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