Bank of India (BoI) today said it has increased the interest rates for 1-year tenor Fixed Deposits to 7.00% with effect from 26th May 2023 for retail customers (for less than Rs 2 crores deposits). Following the revision, the Bank of India is now offering a rate of interest in the range of 3 % to 7.00 % for general citizens deposits maturing in the range of 7 days to 10 years.
The bank is providing an interest rate of 7.50% to senior citizens and 7.65 % to super senior citizens for a deposit period of 1 year. The revised interest rates are also applicable for domestic, NRO and NRE deposits, the Bank of India said in a statement.