Bank of India has increased interest rates on fixed deposits (FDs), giving a benefit to its customers.
Most banks had reduced FD interest rates after the Reserve Bank of India cut the repo rate by a total of 125 basis points starting from February 2025.
However, Bank of India has taken a different step by raising interest rates on selected medium and long-term fixed deposits.
The revised rates are applicable on fixed deposits below ₹3 crore. These new FD rates have come into effect from May 18, 2026.
New FD Interest Rates
| FD Tenure | Ordinary Citizens | Senior Citizens (60–80 years) | Super Senior Citizens (80+ years) |
|---|---|---|---|
| 1 year to less than 2 years | 6.50% | 7.00% | 7.15% |
| 2 years to less than 3 years | 6.60% | 7.10% | 7.25% |
| 3-year FD | 6.70% | 7.45% | 7.60% |
Key Highlights
Bank of India has increased FD rates while many banks are reducing them.
The highest interest rate is available on 3-year FDs.
Senior and super senior citizens will get higher returns compared to ordinary customers.