Good news for Bank FD investors! This government bank increased the interest rate, getting huge benefits
Latest FD Rates 2023 Now 7 percent interest is being given by the Bank of India on FD of one-year duration. At the same time, the bank is giving additional interest on FD to senior citizens.
The interest rate on FDs of less than Rs 2 crore has been increased by the public sector Bank of India. After this increase, the bank is giving a maximum interest of 7 percent to the investors on one year FD.
According to the information given on the bank's website, the new interest rates have come into effect from May 26, 2023. The bank is offering FDs with tenures ranging from 7 days to 10 years to investors.
3.00 percent interest rate on FDs from 7 days to 45 days, 4.50 percent interest rate on FDs from 46 days to 179 days, 5.00 percent on FDs from 180 days to 269 days, and 270 days from the bank 5.50 percent interest is being given by Bank of India on FDs of less than one year.
Investors are being given 7 percent interest on one year FD. Investors will get 6.00 percent interest on FDs from one year to less than two years, 6.75 percent on FDs from two years to less than three years, 6.50 percent on FDs from three years to five years, and from five to 10 years. Investors are given an interest of 6.00 percent on FDs.
On behalf of the bank, senior citizens are being given an additional interest rate of 0.25 percent in addition to 0.50 percent on FDs of three years and above. At the same time, very senior citizens are being given an interest rate of 0.40 percent in addition to 0.50 percent on FDs of three years and above.
