Fixed Deposit Details
Bank Name
Bank of India
Eligibility
Individuals & HUFs having PAN Numbers
Interest Rate
7.25%
Tenure
5- 10 years.
Fixed Deposit Type
Tax Saver
BOI STAR SUNIDHI DEPOSIT SCHEME
Tax Benefits
Tax exemption under section 80C of the Income Tax Act, 1961.
Credit Ratings
CRISIL A1+
Interest Payment Frequency
At maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Not specified by the bank.
Features
- Tax Saver Fixed Deposit offers tax deduction on income of up to ₹1.5 Lakh under section 80C of the Income Tax Act.
- No premature withdrawal facility or auto-renewal facility.
- Minimum deposit of Rs 10,000 and a maximum of 1,50,000 per financial year for a 5-year lock-in period.
- The lock-in period of 5 years.
- Nomination facility is available.
- Premature withdrawal is not allowed.
Minimum Investment Amount
10,000
Features & Benefits
Pros
- Tax saving benefits.
- Special concession for senior citizens.
- Competitive interest rates.
Cons
- No loan or overdraft facilities.
- High minimum deposit requirement.
Pros & Cons
How to Open?
Online:
- Internet Banking: Log in to your Bank of India NetBanking account. Navigate to the "Fixed Deposit" section. Select the "Open FD" option. Choose the type of deposit account (general, senior citizen, etc.). Fill in the required details, including deposit amount, tenure, nominee information, and maturity instructions.Review the details and confirm the transaction.
- Mobile App: Download the Bank of India mobile app.Log in to your account. Follow the steps similar to internet banking to open an FD.
2. Offline:
- Visit a Bank Branch: Visit your nearest Bank of India branch. Fill out the necessary FD application form. Submit required documents, such as:PAN card Aadhaar card Address proof Passport size photographs Deposit the desired amount.
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:58:50Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
