BOI FD Calculator – Calculate Maturity Amount | Bank of India Fixed Deposit Rates

The Bank of India FD Calculator is useful to calculate your Maturity amount after Tenure Period. Here we have provided online BOI FD Calculator. Along with the FD Calculator, you have to know the latest Bank of India FD rates. Because based on the BOI FD rates only you can know your Maturity amount. For more details about the Bank of India Fixed Deposit refer to the below sections.

Bank of India FD Calculator

In our site www.fdcalculators.com, we are providing online FD Calculator which is useful in calculating the Annual amount after the completion of Tenure period. Also, the FD Calculator is also available in official website. So, you can use any one of the Bank of India FD Calculator to know Maturity amount. By using the BOI FD calculator, you can quickly calculate the Total amount. There is a formula for calculating FD Amount. But by using formula it may take more time, and even errors may occur. Thus, to avoid those errors you can use the online Bank of India FD Calculator. Here we have also explained the FD Account Opening process, And how to use the Bank of India FD Calculator in below sections.

Click here for Bank of India Fixed Deposit Calculator

How to use BOI FD Calculator?

  1. Click on the above link to get FD Calculator or visit the official site.
  2. Then you have to enter the Principal amount, Bank of India FD rates, tenure period and frequency on the BOI Bank FD Calculator.
  3. It is necessary to check again the values that you have entered and click on Calculate button.
  4. Finally, within few seconds you can know FD Amount.

Here we have provided detailed steps to use the Bank of India FD Calculator. So, the steps are given above. The requirements to use Bank of India FD Calculator are as follows:

  • Rate of Interest (%)
  • Principal Amount (Rupees)
  • Frequency (Simple/Compound)
  • FD Period (Years/ months)

Bank of India FD Calculator

Bank of India FD Rates – Deposits < Rs.1 Crores

Tenure Period Deposits Less than 1 Crore
w.e.f. 02.12.16
7 days – 14 days 4.00%
15 days – 30 days 4.25%
31 days – 45 days 4.25%
46 days – 90 days 6.50%
91 days – 120 days 6.50%
121 days – 179 days 6.50%
180 days – 269 days 6.75%
270 days to less than 1 year 6.90%
1 year to less than 2 years 7.00%
2 years and above to less than 3 years 7.00%
3 years and above to less than 5 years 6.90%
5 years and above to less than 8 years 6.90%
8 years and above to 10 years 6.90%

Bank of India FD Interest Rates – Above Rs.1 Crore to < Rs.10 Crores

Tenure Period  > 1 Crore to < 10 crores Rs.10 Crores and Above
w.e.f. 08.02.16 w.e.f.09.12.16
7 days – 14 days 4.00% 4.50%
15 days – 30 days 4.00% 4.50%
31 days – 45 days 4.00% 4.50%
46 days – 90 days 4.25% 4.50%
91 days – 120 days 4.75% 4.50%
121 days – 179 days 4.75% 4.75%
180 days – 269 days 4.75% 4.75%
270 days to less than 1 year 4.75% 5.10%
1 year to less than 2 years 5.00% 5.10%
2 years and above to less than 3 years 5.00% 5.10%
3 years and above to less than 5 years 5.00% 5.10%
5 years and above to less than 8 years 5.00% 5.50%
8 years and above to 10 years 5.00% 5.50%

BOI FD Rates – NCR Term Deposits

Maturity Deposits less than Rs.1Crore
Callable Deposits Non-Callable Rates
1 year to less than 2 years 7.00 7.10
2 years and above to less than 3 years 7.00 7.10
3 years and above to less than 5 years 6.90 7.00
5 years and above to less than 8 years 6.90 7.00

BOI FD Interest Rates – NCR (above 1 crore – < Rs.10 crores)

Maturity Deposits of Rs.1Crore above and less than Rs.10crore
Callable Deposits Non-Callable Rates
1 year to less than 2 years 5.00 5.10
2 years and above to less than 3 years 5.00 5.10
3 years and above to less than 5 years 5.00 5.10
5 years and above to less than 8 years 5.00 5.10

Based on the interest Rates your Maturity amounts calculated by using Bank of India FD Calculator. Here we have provided FD Interest rates for the Deposits of up to Rs.10 crores. For the FD rates of more than Rs.10 crores, you should contact the branch. Such that the branches must seek approval from the Bank of India for the deposits of Rs.10 Crores and above. Thus, based on the FD interest rates you can calculate the maturity amount.

Bank of India FD Interest Rates for Senior Citizens

We have also provided the BOI FD Interest Rates for Senior Citizens. Therefore they are listed as:

  • For availing benefits of additional rates, the Senior citizens should have their tenure period of Deposit for six months and above.
  • The Age of the senior citizens should be 60 years at the time of placing the deposit.
  • For Deposits below Rs.1Crore, the additional rate of Interest over & above the general public is 0.50% per annum.
  • For Deposits below Rs.1Crore, the additional rate of Interest over & above (for Staff/Ex-Staff Senior Citizens, Spouse in the case of deceased Staff/Ex-Staff) is 1.50% per annum.

There is a facility of Premature withdrawal of fresh and renewed Domestic, NRO and NRE on the Fixed Deposits. Here we have mentioned categories of Deposits along with the penalty.

Applicable for Domestic and NRO Fixed Deposits

Deposits Penalty on Premature Withdrawal of the deposit
Deposits less than 5 lacs which have withdrawn prematurely before completion of 12 months 0.50%
Deposits less than 5 lacs which have withdrawn on or after completion of 12 months nil
Deposits of Rs.5 lacs and above withdrawn Prematurely 1.00%

Applicable for NRE Fixed Deposits

Deposits Penalty on Premature Withdrawal of the deposit
The Deposits for NRE Fixed Deposits will remain with the bank for less than 12 months No Penalty
Deposits less than 5 lacs remained with the bank for 12 months & above nil Penalty
Deposits of Rs.5 lacs and above withdrawn Prematurely after 12 months 1.00%

Bank of India Fixed Deposit

Normally the Fixed Deposit is also known as Term Deposit. It is an account which can be opened in any Bank. Generally, the FD Accounts are the saving accounts in which you can save amount for a particular period. After completion of Tenure Period, your Maturity amount is calculated based on the FD Interest Rates of Bank of India. The tenure Period depends on the Scheme that you have selected. i.e the tenure period must be For monthly, quarterly, half-yearly and annually.

Now almost everyone is showing interest to open Saving Bank Account in any bank. Here we have provided BBank of India FD Account opening Process. So, check the below sections to know the eligibility, the list of documents, online and offline process.

Check for Bank of India Fixed Deposit

Eligibility to Open FD Account in BOI

The candidates who want to open BOI FD Account should follow the Eligible conditions which are mentioned below.

  • Any individual can open FD Account in Bank of India.
  • HUF
  • Educational Institutions and Trust
  • Minor Jointly with the Major
  • Hindu Unified Company
  • Club
  • NRI

Documents Required for FD Account Opening in BOI

These are the documents to be submitted along with the FD Account opening application form. So, those who are opening FD Account in Bank of India Should the list of Documents. Thus, we have provided the documents list below.

  • Documents for Identity Proof
    • Passport
    • Aadhaar Card
    • Driving License
    • Voter ID card
    • PAN Card
    • Identity Card issued by the reputed Employer
  • List of Documents for Address Proof
    • Aadhaar Card
    • Telephone Bill
    • Salary Slip
    • Bank Account Statement
    • Electricity Bill
    • Wealth Tax / Income Tax Assesment order

BOI FD Account Opening – Offline Process

  1. Visit the official website to download the FD Account opening Application form.
  2. After completing the download process fill the details without any mistakes.
  3. Then attach the documents along with FD Application form which have to submit in the bank.
  4. Later Submit the Application form with the Documents in any BOI Branch.
  5. Finally, your FD Account will be opened in Bank of India.

Here the Candidates who are interested in opening FD Account can follow either online process or offline process. So, based on their convenience they can choose any of the processes which are given here. Here it is the offline process. For Online Process for opening FD Account in BOI, refer below sections.

Online FD Account opening Process

  1. Visit the official Website www.bankofindia.co.in
  2. Then download the FD Account Opening Application Form from the official site.
  3. Later Fill the details correctly and after filling the details. Once again check the form.
  4. After that submit the Application form with the required documents.
  5. Finally, after the verification process, your FD Account will be opened in Bank of India.

Click here to know more on FD Account opening

Features of Fixed Deposit in Bank of India

We have given some primary features of BOI Fixed Deposit Schemes. They are as follows:

  • In Bank of India, there are attractive interest Rates.
  • In BOI the approval and processing are fast.
  • There are no upper limits for deposits. But you need to take permission from the head or from regional officers for deposits above Rs.10 crores.
  • In Bank of India, there is Flexible Tenures period from 6 months to 120 months & starting from 7 days.

Different Bank of India Fixed Deposit Schemes

The Bank of India mainly offers three types of Fixed deposits Schemes which are below. Based on your interest you can choose any of the schemes for Fixed Deposit.

  1. Short Term or Fixed Deposit: This is the basic or standard Fixed Deposit Scheme in which the customers will pay fixed amount at regular intervals.
  2. Monthly or Quarterly term Deposit: In this Scheme, the customer can select to receive interest payments at regular intervals.
  3. Double benefit Term Deposit: In this, interests can not be paid intermittently. In this Scheme, the customers can stand to receive high-interest rates, before Tenure Period there is no chance to break Fixed Deposit.
Updated: March 17, 2017 — 10:21 am

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