BOI NRO Term Deposit Account

BOI NRO Term Deposit Account is a fixed deposit account offered by Bank of India specifically for Non-Resident Ordinary (NRO) account holders. NRIs can deposit their Indian Rupee (INR) earnings in India into this account for a fixed term. The deposit earns interest at a predetermined rate throughout the chosen term. Upon maturity, the principal amount along with the accrued interest is returned to the NRI.

Guaranteed Return

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

+91

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FD Interest Rates for NRO Rupee Term Deposits For Less Than 2 Cr And 2 Cr And Above But Less Than 10 Cr

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

Please contact the nearest Branch for the rate of interest on deposits of Rs.10 cr & above

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: Bank Of India FD Interest Rates

Features of BOI NRO Term Deposit Account

Currency: Indian Rupees (INR)
Deposit Period: 7 days to 120 months
Repatriation: The principal amount is up to USD 1 million. Subject to FEMA 2000 guidelines.
Interest Rate: As advised by the Bank from time to time and displayed on their website.
Taxation: Income tax deductible at source (as per Double Taxation Avoidance Agreements (DTAA) executed by India with 71 countries).

Who Can Open An Account Under BOI NRE Term Deposit Account?

Eligibility: NRIs (Non-Resident Indians)
Individuals/entities of Bangladesh or Pakistan nationality/ownership require prior approval from RBI.
Joint account: Permitted

Rupee Term Deposit Rate - Additional Rate

Additional Rate Of Interest Applicability On Various Rupee Term Deposits

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.