Bank of India launches 175-day fixed deposit at 7.5% interest for high-value deposits?

Banking & Finance

The public sector bank, in a statement, said the “Super Special Fixed Deposit”, which has been introduced with effect from January 1, 2024, is a high-yielding avenue for HNIs (high net worth individuals) and Corporates to deploy their surplus funds for the short term.Bank of India (BoI) has introduced a 175-day tenor fixed deposit at an interest of 7.50 per cent per annum for deposits of ₹2 crore & above to less than Rs.50 crore, amid liquidity tightness in the banking system and credit growth outstripping deposit growth.


      This comes on the heels of the State Bank of India (SBI) and Bank of Baroda (BoB) increasing their deposit rates.

      “The special fixed deposit is for domestic rupee term deposit only. The special fixed deposit is introduced as a limited period offer,” per the statement.

      Bank of India (BoI) has introduced a 175-day tenor fixed deposit at an interest of 7.50 per cent per annum for deposits of â‚ą2 crore

 

     


About Bank Of India:

Headquarters: Mumbai
Founder: Ramnarain Ruia
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