Bank of India (BoI) has revised interest rates on select fixed deposits and introduced a special 500-day Star Akshay Fixed Deposit scheme, effective November 2, 2026. The scheme offers annual interest rates of 6.85% for general customers, 7.35% for senior citizens and 7.50% for super senior citizens. The bank has also raised rates on select one-to-three-year deposits, with rates varying by deposit size and customer category.
Key Takeaways
- BoI’s new 500-day Star Akshay Fixed Deposit offers up to 7.50% per annum to super senior citizens.
- General customers receive 6.85%, while senior citizens receive 7.35% under the scheme.
- For deposits below ₹3 crore, revised rates are 6.60% for one year and 6.70% for tenures above one year and below three years.
- The revised rates took effect on November 2, 2026, for eligible deposits below ₹10 crore.
Bank of India Introduces Special 500-Day Fixed Deposit
State-owned Bank of India has revised interest rates on select fixed deposit maturities and launched a special 500-day deposit scheme offering returns of up to 7.5% per annum to super senior citizens.
Under the Star Akshay Fixed Deposit scheme, the bank is offering 6.85 per cent per annum to general customers, 7.35 per cent to senior citizens and 7.5 per cent to super senior citizens.
| Depositor category | Annual interest rate |
| General customers | 6.85% |
| Senior citizens (60–79 years) | 7.35% |
| Super senior citizens (80 years and above) | 7.50% |
The scheme provides higher rates for elderly depositors, with super senior citizens receiving the highest advertised return. The 500-day tenure offers a fixed-income option for customers who do not want to commit their savings for several years.
Revised Rates for Other Fixed Deposit Tenures
In addition to the special scheme, BoI has increased rates on select deposits with tenures of one year to less than three years. The revised rates apply to deposits below ₹3 crore and deposits ranging from ₹3 crore to less than ₹10 crore.
For deposits below ₹3 crore, the revised rates are:
| Deposit tenure | Annual interest rate |
| One year | 6.60% |
| Above one year to less than three years | 6.70% |
For deposits of ₹3 crore to less than ₹10 crore, the bank is offering 6.55% for one year and 6.65% for tenures above one year and below three years.
Senior citizens receive an additional 0.50 percentage points, while super senior citizens receive an additional 0.65 percentage points on deposits with maturities from 180 days to less than three years.
BoI is also offering an additional 0.15 percentage points on non-callable fixed deposits above ₹1 crore for tenures ranging from one to three years.
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Estimated Returns on a ₹10 Lakh Investment
Consider a senior citizen who invests ₹10 lakh in Bank of India’s 500-day FD at an annual interest rate of 7.35%. Assuming quarterly compounding, the estimated interest earned is ₹1,04,918, bringing the estimated maturity value to ₹11,04,918.
These figures are estimates; the actual maturity amount may vary according to the bank’s day-count and compounding practices.
How to Open a Bank of India Fixed Deposit
Customers can open a fixed deposit at a Bank of India branch or through the BOI Omni Neo app and internet banking facilities.
Loan-against-deposit and premature-withdrawal facilities are available only for callable deposits. The bank’s non-callable deposit option has different conditions.
Outlook
Bank of India’s revised fixed deposit rates provide depositors with additional opportunities to earn returns across selected maturities. The new 500-day Star Akshay Fixed Deposit is particularly attractive to senior and super senior citizens, who qualify for higher interest rates than general customers.
However, investors should assess more than the headline rate when choosing a deposit. The applicable interest rate depends on the investment tenure, deposit amount and depositor category. Customers should also review whether the deposit is callable or non-callable, as this affects access to premature withdrawal and loan facilities.
As banks adjust deposit rates, comparing available schemes and their terms can help savers select an option that aligns with their income needs, liquidity requirements and investment horizon.
Frequently Asked Questions
What is the interest rate on Bank of India’s 500-day FD?
The annual rate is 6.85% for general customers, 7.35% for senior citizens and 7.50% for super senior citizens.
When did the revised Bank of India FD rates take effect?
The revised rates took effect on November 2, 2026.
What are the revised rates for one-year deposits below ₹3 crore?
The revised annual interest rate is 6.60%.
Can customers withdraw their FD before maturity?
Premature withdrawal and loan-against-deposit facilities are available only for callable deposits, according to the source material.
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