Bank of India Updates FD Rates with New ‘Star Dhan Vriddhi’ Scheme Offering Higher Returns

Bank of India (BOI) has updated its Fixed Deposit (FD) interest rates for deposits under Rs 3 crore, effective from September 1, 2024. This adjustment aims to offer better returns to customers, with interest rates now ranging from 3 percent to 7.25 percent, depending on the tenure of the FD. The new rates apply to deposits with terms spanning from 7 days to 10 years.

Bank of India: Exclusive ‘Star Dhan Vriddhi’ Scheme

In addition to the revised rates, BOI has launched a special FD scheme named ‘Star Dhan Vriddhi’. This limited-time offer provides an attractive interest rate of 7.25 percent for a fixed tenure of 333 days. The scheme is tailored to enhance returns for customers, with even more favorable rates for senior and super-senior citizens:

• General citizens: 7.25%
• Senior citizens (ages 60-80): 7.75%
• Super senior citizens (age 80+): 7.90%

Enhanced Returns for Senior Citizens

The ‘Star Dhan Vriddhi’ scheme stands out with its generous rates for senior citizens, offering enhanced returns compared to standard FD options. Senior citizens between the ages of 60 and 80 will enjoy a rate of 7.75 percent, while super senior citizens aged 80 and above will benefit from a remarkable 7.90 percent interest rate.