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  1. Jan 4, 2024 · Find out the interest rate for rupee term deposit for domestic and senior citizens, and the additional details and penalty details from the Bank of India. Compare the rates and choose the best option for your savings.

  2. Know about Interest Rate Information for savings accounts, rupee term, NRE deposits, retail advances, base rates, RBLR, and More from Bank of India.

    • Star Sunidhi Tax-Saving Deposit Scheme
    • Short Term Deposit
    • Double Benefit Term Deposit
    • Quarterly/Monthly Term Deposit
    • Motor Accidental Claims Term Deposit
    • NRE Term Deposit
    • Nro Term Deposit
    • FCNR Deposit
    • RFC Deposit
    • Capital Gain Tax Saving Scheme
    • GeneratedCaptionsTabForHeroSec
    The deposit amount of the Star Sunidhi Tax-Saving Deposit can be used to claim income tax deduction under Section 80C of the Income Tax Act, 1961. In case of a joint account, only the first named d...
    Tenor:5-10 years
    Minimum Deposit Amount: Rs 10,000
    Maximum Deposit Amount:Rs 1.5 lakh per financial year
    Minimum Deposit Amount:The minimum deposit amount for this scheme is Rs 1 lakh in metro and urban areas per single deposit (for 7-14 days). There is no minimum amount criteria for subsidy under ear...
    Tenor:Within 6 months
    Interest Payout:The interest is paid on a half yearly basis on 1st October and on 1st April (if any of these dates fall on a holiday then the amount will be paid on the next working day).
    Premature Closure: In case of premature closure, the following penalties are applicable on the withdrawn amount:
    Interest Rate:The interest amount on this scheme is compounded on a quarterly basis.
    Interest Payout:The interest, along with the principal amount, is payable on maturity of the deposit.
    Tenor:6 months to 10 years.
    Minimum Deposit Amount: The minimum deposit amount for this scheme is as follows:
    This scheme provides the benefit of fixed monthly/quarterly income for the depositors on their investment while leaving the deposit amount intact.
    Tenor:10 years
    Minimum Deposit Amount: The minimum deposit amount for this scheme is as follows:
    This scheme facilitates claims related to motor accidents where a one-time amount (as decided by the courts or tribunals) is deposited in the account and equated monthly installments (EMI) are also...
    Tenor:3-10 years. If the tenor is lower than 3 years, a normal fixed deposit account will be opened. The Motor Accidental Claims Term Deposit account can also be opened for more than 10 years based...
    Minimum Deposit Amount:Calculated on the basis of minimum monthly annuity of Rs 1,000
    Maximum Deposit Amount:No limit
    This scheme enables the NRI individuals or entities to open an account for depositing their earnings made from outside the country.
    Tenor:1-10 years.
    Currency Denomination:INR
    Taxation:The deposits under the NRE Term Deposit Scheme are exempt from income tax
    This scheme enables the NRI individuals and entities to open an account for depositing their income from within the country.
    Tenor:7 days to 10 years.
    Currency Denomination:INR
    Taxation: The income tax is deductible at source (according to the double taxation avoidance agreement) on the deposits under this scheme.
    This scheme enables the Foreign Currency Non Resident (FCNR) Account holders to open an account for depositing their income from outside India in foreign currency.
    Tenor:1-5 years.
    Currency Denomination:USD, AUD, GBP, EUR, CAD and JPY
    Taxation:The deposits under the FCNR Term Deposit Scheme are exempt from income tax
    The Resident Foreign Currency (RFC) Deposit scheme allows NRI to deposit the funds they hold in foreign currency.
    Tenor:1-3 years.
    Currency Denomination:USD and GBP
    Taxation:The deposits under the RFC Term Deposit Scheme are exempt from taxation till the individual is a ‘Resident but not ordinarily resident’. Post that a TDS of 10% plus surcharge is deductible.
    The Capital Gain Accounts Scheme, 1988 is applicable for taxpayers who wish to claim an exemption for capital gains under Section 54 of the Income Tax Act, 1961.
    Types of Accounts: There are two types of accounts under this scheme:

    Compare Bank of India fixed deposit interest rates for domestic, NRO, NRE, RFC and FCNR deposits. Find out the highest slab rate, tax-saving FD rate and tenure-wise rates for different categories of depositors.

  3. Jan 10, 2023 · According to the Bank of India press release, "Following the revision, bank offers rate of interest rate of 7.05% in special term deposit bucketof 444 days for general customers. It provides an interest rate of 7.55 % for senior itizens for deposit period of 444 days and 7.25% for tenor of 2 years to below 5 years."

    • Sneha Kulkarni
  4. Jun 29, 2024 · Bank of India Fixed deposit interest rates for NRE below Rs.2 crore. Updated on Sat Jun 29 2024. Bank of India 5 year Tax Saving Rate. Updated on Sat Jun 29 2024. **The Rates quoted above are as per the respective Bank's Website.

  5. Nov 2, 2022 · The bank is offering a 5.75 per cent interest rate on one-year fixed deposits. Bank of India has revised the fixed deposit (FD) interest rate from November 1, 2022. As per the revised FD interest rates, the PSU bank is offering the highest interest rate of 7.25 per cent for 777 days of tenure.

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