The interest rates of fixed deposits are changed by banks at this time. Many customers find the fixed deposit a safe investment as it has no effect on market fluctuations. The interest rates of fixed deposits have also been changed by Bank of India (BOI). The new interest rates will be implemented soon.
How much interest rate is being available in Bank of India?
According to the official website of the bank, the bank has cut up to 25 Basis points on different tenures. The new interest rates will be applicable to fixed deposits of less than 3 crore. For example, the bank will reduce the interest rate from 91 days to 179 days from 4.50 percent to 4.25 percent. At the same time, the interest rate on tenure less than 1 year will be reduced from 6 percent to 5.75 percent.
At the same time, the interest rate will be increased to 7.05 per cent on one year tenure. At the same time, the interest rate on tenure from 1 year to 2 years will get 6.75 percent. At 1 year tenure, customers will get 7.05 per cent rate and 6.70 per cent interest rate on tenure of more than 1 year and less than 2 years.
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