KEY HIGHLIGHTS
- Bank of India revised FD interest rates from December 1, 2025 after RBI repo rate cut.
- Senior citizens can earn up to ₹77,945 interest on a ₹2 lakh fixed deposit.
- Check tenure carefully and lock FD at higher rates before further revisions.
Government banks remain a preferred choice for risk-averse Indian investors, especially senior citizens. Bank of India, one of the 12 public sector banks controlled by the Government of India, is currently offering attractive fixed deposit (FD) interest rates despite recent repo rate cuts by the RBI.
After the 1.25% repo rate reduction, many banks lowered FD returns. However, Bank of India continues to provide competitive rates on select tenures, making it a suitable option for those seeking stable and guaranteed returns.
Quick Overview of Bank of India FD Rates
| Event / Category | Details / Dates |
|---|---|
| Bank Name | Bank of India |
| FD Tenure Range | 7 days to 10 years |
| Interest Rates | 3.00% to 7.35% |
| Special FD Scheme | Star Swarnim Special FD (450 days) |
| Rate Revision Date | December 1, 2025 |
| Official Website | Available Here |
Latest FD Interest Rates Offered by Bank of India
Bank of India offers different interest rates based on tenure and age category:
Star Swarnim Special FD (450 Days)
- General Citizens: 6.70%
- Senior Citizens (60+): 7.20%
- Very Senior Citizens (80+): 7.35%
Long-Term FD (More than 3 Years but Less than 5 Years)
- General Citizens: 6.25%
- Senior Citizens: 6.75%
These rates are applicable on deposits made after the latest revision and may change depending on future RBI policy decisions.
How ₹2,00,000 Can Grow into ₹2,77,945
Here’s a simple breakdown to help investors understand the returns:
For General Citizens
- Deposit Amount: ₹2,00,000
- Tenure: 59 months
- Interest Rate: 6.25%
- Maturity Amount: ₹2,71,302
- Total Interest Earned: ₹71,302
For Senior Citizens
- Deposit Amount: ₹2,00,000
- Tenure: 59 months
- Interest Rate: 6.75%
- Maturity Amount: ₹2,77,945
- Total Interest Earned: ₹77,945
This makes Bank of India’s FD scheme particularly beneficial for retirees looking for predictable monthly or lump-sum income.
Who Should Consider This FD Scheme?
- Senior citizens looking for safe, fixed returns
- Investors preferring government-backed banks
- Individuals planning medium-term savings (3–5 years)
- Those expecting further rate cuts and want to lock current rates
Editor’s Tip
If you are planning to open an FD, choose cumulative option if you don’t need regular income. Also, double-check your PAN and age details while opening the FD — senior citizen benefits are applied only after proper verification.
FAQs on Bank of India FD Scheme
Q1. Are Bank of India fixed deposits completely safe?
Yes, Bank of India is a government-owned bank, and deposits are also insured up to ₹5 lakh under DICGC norms.
Q2. Can senior citizens get extra benefits on FD interest?
Yes, senior citizens receive an additional interest rate over regular customers on most FD tenures.
Q3. Can FD be closed before maturity?
Premature withdrawal is allowed, but a small penalty may apply depending on tenure and amount.
