Bank of India Raises FD Rates on Sub-₹3 Crore Deposits, Tops Out at 6.70%

Overview

• Bank of India, which revised its fixed-deposit terms Monday, set rates at 6.50% for 1–under 2 years, 6.60% for 2–under 3 years, and 6.70% for three years.
• Senior citizens get an extra 0.50% and super seniors 0.65% for tenors from six months to under three years, rising to 0.75% and 0.90% for three years and above.
• Large non-callable deposits above ₹1 crore earn an additional 0.15% interest per year when locked in for at least one year.
• Only callable FDs allow a loan against the deposit or early withdrawal, while non-callable FDs must run to maturity.
• The stock traded lower at ₹137.90 on the BSE Monday, a move reported alongside the update and set against a 52-week range of ₹109 to ₹178.45.