Bank Of India Hikes FD Rates, What Seniors And Super Seniors Can Receive

Bank of India (BOI) revised its fixed deposit (FD) rates on May 18, 2026, and increased the rates for select tenures. It has discontinued the special tenure ‘450 days (Star Swarnim) FD and introduced a ‘Three-year’ tenure FD offering the highest interest rates of all tenures. 

Previously, the bank revised the rates on March 2, 2026. Typically, banks offer an additional 50 basis points (bps) to senior citizens (60 years and above), but BoI offers an additional rate of up to 75 bps to seniors and up to 90 bps to super seniors (80 years and above) for certain tenures. 

Notably, the bank offers an additional 50 bps to senior and 65 bps to super seniors for less than three-year tenures, and 75 bps for seniors and 90 bps for super seniors for three years and above tenures. 

Here are the details of the changes in the fixed deposit rates:

For General Public:

• 6.50 per cent for one year

• 6.50 per cent for above one year to less than two years

• 6.60 per cent for two years to less than three years

• 6.70 per cent for three years

• 6.25 per cent for above three years to less than five years

• 6.00 per cent for five years to less than eight years

• 6.00 per cent for eight years and above to 10 years

For Senior Citizens:

• 7.00 per cent for one year

• 7.00 per cent for above one year to less than two years

• 7.10 per cent for two years to less than three years

• 7.45 per cent for three years

• 7.00 per cent for above three years to less than five years

• 6.75 per cent for five years to less than eight years

• 6.75 per cent for eight years and above to 10 years

For Super Senior Citizens:

• 7.15 per cent for one year

• 7.15 per cent for above one year to less than two years

• 7.25 per cent for two years to less than three years

• 7.60 per cent for three years

• 7.15 per cent for above three years to less than five years

• 6.90 per cent for five years to less than eight years

• 6.90 per cent for eight years and above to 10 years

These rates apply to callable FDs with a principal of less than Rs 3 crore. Callable FDs are those that can be withdrawn prematurely. However, a penalty is levied for withdrawing the amount prematurely within 12 months of the investment date. The penalty will be 0.50 per cent if the deposit amount (less than Rs 5 lakh) is withdrawn within 12 months. If the amount (less than Rs 5 lakh) is withdrawn on or after 12 months, the penalty will be nil. If the amount is Rs 5 lakh or more, the penalty will be 1 per cent, irrespective of the holding period.