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Bank of India Senior Citizen FD Rates 2024 – How to book online

In today’s financial landscape, fixed deposits are one of the most secure investment avenues. For senior citizens, the Bank of India offers interest rates up to 7.75% p.a. and 7.90% p.a. for super senior citizens. Learn more about Bank of India senior citizen FD rates, its features, benefits, and other necessary details in this comprehensive guide. 

Bank of India Senior Citizen FD Rates 2024 

Here are the rates of interest for term deposits less than ₹2 crores:

Tenure Interest Rates for Senior Citizens Interest Rates for Super Senior Citizens
7 days to 14 days3.00%3.00%
15 days to 30 days3.00%3.00%
31 days to 45 days3.00%3.00%
46 days to 90 days4.50%4.50%
91 days to 179 days4.50%4.50%
180 days to 210 days6.00%6.15%
211 days to 269 days6.00%6.15%
270 days to less than 1 Year6.25%6.40%
1 Year & above to 399 Days7.00%7.15%
400 days (Monsoon Deposit)7.75%7.90%
401 days to less than 2 Years7.00%7.15%
2 years7.30%7.45%
Above 2 years to less than 3 years7.25%7.40%
3 years to less than 5 Years7.25%7.40%
5 years to less than 8 Years6.75%6.90%
8 years & above to 10 Years6.75%6.90%

Features & Benefits of Bank of India Senior Citizen FD Rates 

Here are some of the salient features and benefits that you need to know before applying for Bank of India senior citizen fixed deposits: 

  1. Senior citizens (age 60 years or above but less than 80 years) can avail the benefit of additional rates by investing in BOI FD schemes for a tenure of  6 months or above. 
  2. Under its FD schemes, the bank offers a 1.50% additional rate of interest over and above regular interest to staff or ex-staff senior citizens (spouses in case of deceased staff/ex-staff senior citizens) for depositing an amount less than ₹2 crores. 
  3. Moreover, senior citizens would get an additional rate of interest of 0.75% over and above the normal interest for investing in BOI FD for 3 years or above.
  4. Senior citizens (including senior citizen staff and ex-staff) have to be the first/primary account holder of the fixed deposit.
  5. Such FDs are only applicable to individuals who are at least 60 years old at the time of placing the deposit. 

How to Book Senior Citizen FD from the Bank of India?

Senior citizens can open an FD account through either online or offline methods and start earning stable returns with the Bank of India FD interest rate for senior citizens.


There are two ways of opening an FD account in the Bank of India, one is through their mobile app, and the other is through internet banking. 

Bank of India App

  • Step 1: Download the Bank of India App and log in.
  • Step 2: Click on the ‘Open FD’ option and select the type of deposit account you want to open.
  • Step 3: Specify all the required details such as payment and maturity instructions, and nominee details.
  • Step 4: Click on ‘Confirm’ after verifying the details. 

You will get an account opening confirmation message pop-up on your screen.

Internet Banking

  • Step 1: Log in to the Bank of India Net Banking account.
  • Step 2: Click on the ‘Open FD’ option under the ‘Fixed Deposit’ tab, and select the type of deposit account. 
  • Step 3: Enter the required details such as nominee details, payment and maturity instructions. 
  • Step 4: Go through the details carefully and click on ‘Confirm’. 

An account opening confirmation message will pop up on your screen. 


In case you find any difficulty opening an FD account online, you can also do it by visiting the nearest branch. Here are the steps to open a senior citizen FD account offline. 

  • Step 1: Visit your nearest Bank of India branch. 
  • Step 2: Obtain an FD application form from a bank representative. 
  • Step 3: Fill out the form and attach all the necessary documents. 
  • Step 4: Submit the form along with the deposit amount. 
  • After the successful processing of your application, the bank will open your FD account. The bank will also issue you an FD receipt as a confirmation of account opening. 

Documents Required 

Here are the documents required for applying Bank of India interest rates for senior citizens. 

  1. PAN card or Form 60/61.
  2. 4 passport-size photographs.
  3. Bank of India FD account opening application form. 
  4. Bank account details – IFSC code, account number, and branch name.
  5. Identity proof – Driving Licence, Voter ID, Aadhaar card, etc. 
  6. Address proof – Passport, Aadhaar card, Voter ID card, etc.
  7. Age proof – School Passing/Graduation Certificate or Birth Certificate.

Eligibility to Open Senior Citizen FD

Here are the eligibility criteria a senior citizen has to fulfil in order to open an FD with the Bank of India.

  • Applicant Type: Residents, Non-resident Indians, Sole Proprietorship or Partnership Firms, Companies, Institutions, Associations, Hindu Undivided Families and Government Bodies. 
  • Applicant Age: An individual who is 60 years of age and above can apply for FD.

Although the Bank of India senior citizen FD rates generally range between 3.00% to 7.90%, the tenures and FD rates are subject to change over time. So, it is recommended to check the official website of the bank before making any investment decision. 


What is the highest rate of interest offered for senior citizen FD at the Bank of India?

Bank of India offers a maximum of 7.75% rate of interest for senior citizen FD upon investing an amount less than ₹2 crores for a tenure of 400 days. 

What is the minimum deposit amount for opening a Bank of India FD?

The minimum investment requirement for booking a Bank of India FD scheme is ₹5,000. 

What is the maximum deposit for Bank of India FD?

There is no cap on the maximum deposit amount for a Bank of India FD. 

What is the maximum Bank of India FD interest rate for super senior citizens in 2023?

The maximum interest rate offered by Bank of India FD schemes to super senior citizens in 2023 is 7.90%.   

Bank FD Interest rates 2024
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