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Bank of India launches 666 days FD for Senior Citizens with up to 7.95% Return

BOI launches FD for senior citizens with up to 7.95% Return

In a press release on 31st May, 2024, the Bank of India (BOI) said that it had launched a 666 Days Fixed Deposit (FD) offering returns of up to 7.95 percent per annum for senior citizens on deposit amounts not exceeding Rs. 2 crore.

The investment opportunity is open to the public and all Bank of India customers, according to BOI’s press release. The release notably highlighted BOI’s commitment and added that the bank provides “one of the highest returns on Fixed Deposits” with the 666 Days FD. 

Also Read : Revised SBI Fixed Deposit Interest Rates for Public and Senior Citizens

Rate of Return

  • Senior citizens will enjoy 7.80 percent p.a. on the 666 days FD
  • Super senior citizens will enjoy 7.95 percent p.a. on the 666 days FD
  • Other age customers will enjoy returns up to 7.30 percent p.a.
  • The revised interest rates are applicable for domestic, NRO and NRE Rupee Term deposits, which are effective from today i.e., 1st June, 2024.

To open the FD, customers can visit any BOI branch. Alternatively, customers can use the BOI Omni Neo App to open the FD.

By the time most people are senior citizens, they are no longer working because they’ve retired from their jobs. Many elderly prefer to invest in schemes specifically designed for them since they help to reduce financial burden. There are some of the best senior citizens investment schemes available in the country. These investment options will certainly ensure financial stability to the senior citizens post their retirement.

 

By Shahrukh Ansari

In a digital age flooded with content, I stand out as a beacon of creativity and authenticity. With a keen understanding of SEO principles and with my extensive experience in writing for various industries and niches, I bring a wealth of knowledge and expertise to you.

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