Public sector bank hikes interest rates on fixed deposits

New Delhi: Leading public sector bank in the country, Bank of India (BOI) has increased the interest on Fixed Deposits (FDs). Now the bank is giving 7% interest to common citizens and 7.50% interest to senior citizens on 1 year FD. These new interest rates are applicable on FDs of less than 2 crores.

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New interest rates:

Term       

7 to 45 days                                                     3.00%

46 to 179 days                                                4.50%

180 to 269 days                                             5.00%

270 days to 1 Year                                         5.50%

1 year                                                               7.00%

More than 1 year but less than 2 years    6.00%

2 years to less than 3 years                         6.75%

3 years to less than 5 years                        6.50%

5 years to 10 years                                       6.00%