Bank of India Increases Fixed Deposit Rates in Shubh Arambh Deposits of 501 Days Tenure

Bank of India, one of the largest Public Sector Banks in India, has revised interest rates upwards for special term deposit scheme viz. “Shubh Arambh Deposit” for 501 days with effect from 01st April, 2023 for deposits below Rs 2 crores. Bank is offering additional 0.15% to super senior citizens (80 years and above) across buckets of 6 months to 10 years. Following the revision, bank offers rate of interest rate of 7.80% in limited period special scheme to super senior citizen customers . It provides an interest rate of 7.15 % for general customers and 7.65% for other senior citizen customers in the special scheme. The rates of interest for other term deposits maturing in 7 days to 10 years is in the range of 3 % to 6.75 % for normal customers and upto 7.40% for super senior citizens. The revised interest rates are applicable for domestic, NRO and NRE deposits.