
Bank of India has revised upward interest rates on fixed deposits below ₹3 crore for tenures of one to three years, effective May 18, 2026. According to reports from The Hindu BusinessLine and Daijiworld Media Network, the revised structure offers competitive rates across different tenure categories. Deposits of one year to less than two years will earn 6.50 per cent per annum, while two years to less than three years will fetch 6.60 per cent p.a., and the three-year tenure carries the highest rate of 6.70 per cent p.a. The upward revision is specifically aimed at attracting more retail deposits in the current market environment.
Senior Citizens receive additional benefits over the applicable rates for deposits maturing between six months and less than three years. As reported by The Hindu BusinessLine and Daijiworld Media Network, Senior Citizens will receive an additional 0.50 per cent p.a. over the applicable rate, while Super Senior Citizens will get an extra 0.65 per cent p.a. For FDs of three years and above, the additional benefit rises to 0.75 per cent p.a. for Senior Citizens and 0.90 per cent p.a. for Super Senior Citizens. These benefits continue to be retained under the revised structure.
Non-callable deposits above ₹1 crore with a minimum tenure of one year will attract a further premium of 0.15 per cent p.a., according to the revised structure. However, as reported by The Hindu BusinessLine and Daijiworld Media Network, the loan against FD and premature withdrawal facilities remain available only on callable deposits. Customers can open fixed deposits through any Bank of India branch, its BOI Omni Neo mobile app, or internet banking services.
Following the announcement, shares of Bank of India were trading lower on the Bombay Stock Exchange, reflecting broader market volatility despite the revised deposit rates. As reported by Daijiworld Media Network, this market reaction occurred despite the bank's efforts to attract more retail deposits through the rate hike. The rate revision demonstrates Bank of India's response to market dynamics and its commitment to offering competitive fixed deposit rates to different customer segments.