Bank of India (BoI) on Friday said it has increased the interest rate of fixed deposits for 1-year tenor to 7 per cent for retail customers. The interest rate is applicable for less than Rs 2 crore deposits.
Following the revision, the bank offers a rate of interest in the range of 3 per cent to 7 per cent for normal customers for deposits maturing in the range of 7 days to 10 years, BoI said in a statement.
It will offer an interest rate of 7.50 per to senior citizen customers and 7.65 per cent to super senior citizens (above the age of 80 years) for a deposit period of 1 year.