Bank of India Special FD Schemes

What are Bank of India Special FD Schemes 2025?

Bank of India special fixed deposit schemes work like regular FDs but with some variations. These variations may be in the tenure, specific features, or the interest rates linked to them. For this reason, depositors often check the latest Bank of India FD rates to understand how these special options compare with standard deposits. The special schemes offered by BOI include the 450 Days FD (Star Vaibhav) and the 777 Days FD (Star Utsav), along with a Non-Callable 777 Days FD variant that provides slightly higher returns. The standout scheme is the Green Deposit (Harit Jama Yojana) with a 999-day tenure, promoting sustainable investments.

Bank of India Special FD Schemes Rates

Bank of India offers special fixed deposit schemes with defined tenures to match different investment needs. Below are the latest rates on BOI Special FDs for deposits below ₹3 crore:

BOI 450 Days FD Interest Rates 2025(Star Vaibhav)

BOI FD Rates w.e.f. August 4, 2025

BOI Star Utsav Callable FD Interest Rates 2025(777 Days)

BOI FD Rates w.e.f. August 4, 2025

BOI Star Utsav Non-Callable FD Rates 2025(777 Days)

BOI FD Rates w.e.f. August 4, 2025

BOI 999 Days FD Interest Rates 2025(Green Deposit)

BOI FD Rates w.e.f. August 4, 2025

Key Features of Bank of India Special FD Schemes

The main features of Bank of India Special FD Schemes are included below, covering deposit limits, withdrawal rules, and additional facilities:

• Minimum Deposit Amount: The minimum deposit required ranges from ₹10,000 to ₹1,00,000. For special cases like earnest money, tenders, or court orders, a lower amount is allowed if supported by proper documents.
• Callable and Non-Callable Options: Among the special FD schemes of Bank of India, the Star Utsav FD (777 days) is available in both callable and non-callable forms, while other schemes are offered only in callable form.
• Loan Facility: Under the special FD schemes, customers can take an overdraft or loan against FD of up to 90% of the FD value. This facility allows access to funds without closing the fixed deposit.
• Premature Withdrawal: Bank of India special FD schemes allow premature withdrawal with a penalty of 0.50% to 1%, while non-callable deposits cannot be closed before maturity.

Eligibility Criteria for Bank of India Special FD Schemes

The main eligibility criteria for opening Bank of India Special FD Schemes include:

• Resident individuals (single or joint)
• Senior citizens and super senior citizens
• Minors through parents or legal guardians
• Hindu Undivided Families (HUFs)
• Partnership firms & Limited Liability Partnerships
• Societies, associations, trusts, companies, etc.
• Central and state government departments

BOI Special FD Schemes Interest Calculation Illustrations

To help you understand how these special deposits work in practice, here are illustrations for different Bank of India Special FD schemes with sample calculations:

BOI 450 Days FD (Star Vaibhav)

The Star Vaibhav FD is a special fixed deposit scheme with a tenure of 450 days. It is designed as a limited-period plan and is available only for deposits below a specified limit. This scheme is an alternative to regular FDs, giving depositors a defined option with a fixed maturity period.

Suppose a general citizen invests ₹2,00,000 in this scheme for 450 days at an interest rate of 6.45%.

Simple Interest Calculation (6.45%):

SI = (2,00,000 × 6.45 × 1.23) ÷ 100 = ₹15,868

Maturity Amount = ₹2,00,000 + ₹15,868 = ₹2,15,868

Compound Interest Calculation (Quarterly, 6.45%):

A = 2,00,000 (1 + 0.0645 ÷ 4)^(4 × 1.23)

A ≈ ₹2,15,940

Compound Interest = ₹2,15,940 – ₹2,00,000 = ₹15,940

BOI Green Deposit (999 Days – Harit Jama Yojana)

The Green Deposit, also known as Harit Jama Yojana, is a special fixed deposit scheme with a tenure of 999 days. It is linked to sustainable investment initiatives and is available in the cumulative option.

For a super senior citizen placing ₹3,00,000 at 6.50%:

Simple Interest (6.50%):

SI = (3,00,000 × 6.50 × 2.74) ÷ 100 = ₹53,430

Maturity Amount = ₹3,53,430

Compound Interest (Quarterly, 6.50%):

A = 3,00,000 (1 + 0.065 ÷ 4)^(4 × 2.74)

A ≈ ₹3,54,990

Compound Interest = ₹54,990

Note: One can use the Bank of India FD interest calculator to understand better the potential maturity value and interest earned on these deposits.

Taxation on BOI Special FD Scheme Returns

Interest earned on Bank of India fixed deposits is taxable under “Income from Other Sources” and must be included in the depositor’s total income. From April 1, 2025 (FY 2025-26), the TDS (Tax Deducted at Source) exemption limit on FD interest is ₹50,000 per year for non-senior citizens and ₹1,00,000 per year for senior citizens.

Key Takeaways

The Bank of India Special FD Schemes are designed with specific tenures and interest structures that set them apart from regular deposits. The main options include the Star Vaibhav FD with a tenure of 450 days, the Star Utsav FD with a fixed period of 777 days offered in both callable and non-callable forms, and the Green Deposit or Harit Jama Yojana with a tenure of 999 days. For general citizens, the interest rates range between 6.45% and 6.75% per annum, while senior citizens receive an additional 0.50% and super senior citizens get 0.65% extra.