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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 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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Home
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FD Interest Rates
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BOI FD Interest Rates
- BOI NRO Term Deposit Account
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:
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For deposits less than Rs.2 Cr
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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
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Currency: Indian Rupees (INR)
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Deposit Period: 7 days to 120 months
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Repatriation: The principal amount is up to USD 1 million. Subject to FEMA 2000 guidelines.
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Interest Rate: As advised by the Bank from time to time and displayed on their website.
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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?
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Eligibility: NRIs (Non-Resident Indians)
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Individuals/entities of Bangladesh or Pakistan nationality/ownership require prior approval from RBI.
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Joint account: Permitted
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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:
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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.
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++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