Bank Of India Fixed Deposit Rates

1. State Bank Of India Fixed Deposit Rates
2. Commercial Bank Fixed Deposit Rates
3. Bank Of India Fixed Deposit Rates In India

Check out the Bank of India FD Rates

Bank of India offers 0.50% higher FD interest rates for senior citizens than for the general citizens for minimum deposit of INR 5000. Premature Withdrawals of Bank of India Fixed Deposit. Bank of India provides the facility of premature withdrawals but they charge the following penalty for the same. Jan 29, 2021 Best bank rates on tax-saving fixed deposits for 2021, compare which bank gives the highest interest rate under the section 80C tax deduction benefit. Check here the list of banks and the offered interest rates.

Bank of India is offering multiple fixed deposit options for its customers on their surplus savings for a fixed tenure. For this, the customers need to make a single time deposit to their FD account at the time of opening an account with the bank. These customers don’t need to deposit more money and cannot withdraw any money in the account during the period of depositing the money into the account. The fixed deposit of the bank of India is considered to have a higher rate of interest in comparison to their saving deposits.

Bank of India FD Rates 2021 Updated on February 28, 2021, 11927 views. The Bank of India is a pioneer in providing financial solutions. The Fixed Deposit is one of the services that is favoured the most by the customers.

Contents

Benefits:-

State Bank Of India Fixed Deposit Rates

• The interest on the deposit is calculated for the completed months.
• There is proper nomination facility available.
• Loan or overdraft up to 90 percent deposit is available.

FD and its details:-

Premature Withdrawing Process

There is facility of premature closure of term deposit with the bank of India that is along with lower interest rate of 0.50%. This is liable with deposits less than Rs 5 lakh and 1 % for deposits above Rs 5 lakh than that of contracted rate. The penal provisions for the premature closure on Bank of India FD that are subjected to change from time to time and can also deposit the schemes.

Loan Against Fixed Deposit

The bank of India is offering with loan up to 90% against own deposit. The bank of India is not offering any loan against the FD of any other bank. Loan is offered against FD at the rate of 5% to 7.7%. the minimum loan tenure is restricted to maximum tenure of FD.

Documents Required Opening Fixed Deposit Accounts

Various documents required to open fixed deposit account in the bank of India are like:-

• Identity proof like PAN card, voter ID card, passport, driving license.
• Address proofs like telephone bill, electricity bill, bank statement with cheque.

The customer is required to open the FD account at the time of opening the account with the bank. There is no facility to deposit more of money and withdraw any money in the account during the tenure of deposit. Interest rate to the account is calculated for the completed months and not for half of the month.

Note: – RBI is the deciding authority for the changes in any kind of FD rates of interest occurring from time to time. The FD interest rates are liable to change on notification from the Reserve Bank of India with defined formats.

Commercial Bank Fixed Deposit Rates

Gayatri Mohapatra

Gayatri Mohapatra has 10 years of experience in content writing. She write on all niches specially with banking (worked as a professional Banker for 4 years). She is keen learner for which she choose this profession.

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Bank Of India Fixed Deposit Rates In India

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