Bank of India
Bank Overview
Financial Health Indicators(Q4 FY26)
Fixed Deposit (FD) Interest Rates
| TENURE | General | Senior |
|---|
Savings Account Interest Rates
| Deposit Slabs | Interest Rate |
|---|
Foreign Currency Non-Resident (FCNR-B) Deposit Rates - check here
Frequently Asked Questions
Quick answers to the most common questions about Bank of India accounts.
As of August 2026, Bank of India offers up to 6.85% p.a. on Fixed Deposits and up to 5.50% p.a. on Savings Accounts based on the balance slabs maintained.
Yes, Bank of India is a scheduled bank regulated by the RBI. Your deposits (up to ₹5 Lakhs per depositor) are insured by the DICGC, which covers principal and interest across all account types.
The minimum tenure for a fixed deposit with Bank of India starts from 7 Days. Senior citizens receive an additional interest rate benefit of up to 0.75% p.a. over general citizen rates.
Bank of India offers tiered interest rates ranging from 2.50% to 5.50% p.a. depending on the balance slabs maintained in the savings account.
Yes, interest earned on deposits is taxable. Savings account interest is tax-free up to ₹10,000 per year (₹50,000 for senior citizens) under Section 80TTA/80TTB. FD interest is fully taxable, and TDS is deducted at 10% if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.