Bank of India hikes FD interest rates on select tenures: Senior citizens to earn up to 7.45% rate

Bank of India has increased interest rates on medium and long-term fixed deposits (FD) of less than Rs 3 crore for tenures ranging from 1 to 3 years. The rates are effective from today, Monday, May 18, 2026.

FD rates that Bank of India has increased

Bank of India has revised its fixed deposit interest rates for select medium-term and long-term tenures. The bank is now offering a 6.50% per annum rate on deposits with a tenure of 1 year to less than 2 years, 6.60% per annum on deposits maturing in 2 years to less than 3 years, and 6.70% per annum on 3-year fixed deposits.

Latest FD interest rates

Maturity	For deposits of less than Rs.3 Cr
7 days to 14 days	3
15 days to 30 days	3
31 days to 45 days	3
46 days to 90 days	4.5
91 days to 179 days	4.25
180 days to 210 days	5.5
211 days to 269 days	5.5
270 days to less than 1 Year	5.5
1 Year	6.5
Above 1 Year to less than 2 Years	6.5
2 Years to less than 3 Years	6.6
3 Years	6.7
Above 3 Years to less than 5 Years	6.25
5 Years to less than 8 Years	6
8 years & above to up to 10 Years	6

FD interest rates for senior citizens

Senior citizens and super senior citizens will continue to receive additional interest benefits ranging from 0.50% to 0.90% p.a., depending on the tenure of the deposit, Bank of India said.

Maturity	#Revised Rates For Senior Citizens w.e.f 18.05.2026
07 days to 14 days	3
15 days to 30 days	3
31 days to 45 days	3
46 days to 90 days	4.5
91 days to 179 days	4.25
180 days to 210 days	6
211 days to 269 days	6
270 days to less than 1 Year	6
1 Year	7
Above 1 Year to less than 2 Years	7
2 Years to less than 3 Years	7.1
3 Years	7.45
Above 3 Years to less than 5 Years	7
5 Years to less than 8 Years	6.75
8 years & above to up to 10 Years	6.75

Bank of India’s penalty on premature withdrawal of FD
The bank has specified different penalty charges for the premature withdrawal of fixed deposits depending on the deposit amount and tenure completed. For deposits of less than Rs 5 lakh, no penalty will be charged if the amount is withdrawn after completion of 12 months. However, if such deposits are withdrawn before completing 12 months, a penalty of 0.50% will apply. In cases where deposits are Rs 5 lakh and above, a premature withdrawal penalty of 1% will be charged.