BoI hikes FD rates for 1 year tenor, to offer up to 7.65 pc to senior citizens

Bank of India (BoI) on Friday said it has increased the interest rate of fixed deposits for 1-year tenor to 7 per cent for retail customers.

The interest rate is applicable for less than Rs 2 crore deposits.

Following the revision, the bank offers a rate of interest in the range of 3 per cent to 7 per cent for normal customers for deposits maturing in the range of 7 days to 10 years, BoI said in a statement.

It will offer an interest rate of 7.50 per to senior citizen customers and 7.65 per cent to super senior citizens (above the age of 80 years) for a deposit period of 1 year.

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