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The Bank has revised interest rates w.e.f. 11.03.2010 on Domestic Rupee Term Deposits of less than Rs. 15 lacs , Rs. 15 lacs & above but less than Rs. 1 Crore and Rs.1 crore and above for various periods as given below:-
FOR DOMESTIC RUPEE TERM DEPOSITS
(% p.a)
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Maturity
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For deposits less than Rs.15 lacs.
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For deposits of Rs.15 lacs and above but less than Rs.1Crore
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For deposits of Rs.1crore & above
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(Existing)
w.e.f.
27-11-09
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Revised
w.e.f.
11-03-10
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(Existing)
w.e.f.
27-11-09
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Revised
w.e.f.
11-03-10
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(Existing)
w.e.f.
27-11-09
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Revised w.e.f.
11-03-10
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07 days to 14 days *
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2.50
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2.50
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2.50
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2.50
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1.50
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2.50
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15 days to 30 days
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2.75
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2.75
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2.75
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2.75
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2.25
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3.00
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31 days to 45 days
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3.00
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3.00
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3.00
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3.00
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2.50
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3.25
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46 days to 90 days
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4.00
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4.00
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4.00
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4.00
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3.00
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4.00
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91 days to 179 days
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5.00
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5.00
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5.00
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5.00
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3.50
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5.00
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180 days to 269 days
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5.75
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6.00
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5.75
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5.75
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4.50
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5.75
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270 days to 364 days
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6.00
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6.50
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6.00
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6.50
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5.00
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6.50
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1 Year to less than 2 Yrs
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6.50
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6.50
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6.50
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6.75
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6.00
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6.75
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2 Yrs to less than 3 Yrs
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6.50
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6.75
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6.50
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6.75
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6.00
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6.75
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3 Years & above
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6.50
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7.00
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6.50
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7.00
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6.00
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6.75
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* Minimum Deposit Rs.1 lakh.
Effective Annualised Rate of Return (Indicative only)
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Maturity
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For deposits less than Rs.15 lacs
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For deposits of Rs.15 lacs and above but less than Rs.1 Crore.
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For deposits of Rs.1 crore & above
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Rate of Interest
(%) p.a.
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Annualised Rate of Return at minimum of the maturity bucket %
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Rate of Interest
(%) p. a.
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Annualised Rate of Return at minimum of the maturity bucket %
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Rate of Interest
(%) p. a.
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Annualised Rate of Return at minimum of the maturity bucket %
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180 days to 269 days
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6.00
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6.04
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5.75
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5.79
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5.75
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5.79
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270 days to 364 days
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6.50
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6.60
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6.50
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6.60
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6.50
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6.60
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1 year to less than 2 years
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6.50
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6.66
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6.75
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6.92
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6.75
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6.92
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2 years to less than 3 years
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6.75
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7.16
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6.75
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7.16
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6.75
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7.16
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3 years to less than 5 years
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7.00
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7.71
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7.00
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7.71
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6.75
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7.41
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5 years and above
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7.00
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8.29
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7.00
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8.29
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6.75
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7.94
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BoI Floating Rate Deposits Scheme has been discontinued w.e.f. 01.09.2009 (Branch Circular No. 103/95 dated 28.08.2009). No fresh deposits should be accepted under this scheme. The outstanding DBD and FDR accounts under Floating Rate Deposits Scheme will continue till their maturity date but no further renewals will be done under this scheme.
SENIOR CITIZENS: Senior Citizens (public other than staff) will get 0.5% p.a. interest more than the card rates on their deposits of six months and above maturity on all deposit schemes uniformally till further notice. Senior Citizens Ex-Staff members will get 1.5% p.a. additional interest (0.5% for senior citizen+1% p.a. applicable to staff members) for their deposits for periods of 6 months and above on fresh/renewal of deposits upto amount of Rs. 15 lacs only (Branch Circular No. 102/27 dated 07.05.2008).
PREMATURE WITHDRAWAL : We have waived the penalty on Premature Withdrawal of all domestic Rupee Term Deposits w.e.f. 01.12.2008 irrespective of date of deposit and amount .(earlier the deposit amount was Rs. 25 lacs and above w.e.f. 01.04.2005 vide branch circular no. 98/258 dated 31.03.2005).
The revised interest rates on Domestic Rupee Term Deposits of less than Rs. 15 lacs , Rs. 15 lacs & above but less than Rs. 1 Crore and Rs.1 crore and above will be applicable for various periods on fresh deposits and on renewal of maturing deposits w.e.f. 11.03.2010.
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