FD Interest Rate: This Public Sector Bank Has Hiked FD Interest Rates; New Rates Effective from Today
Bank of India Hikes FD Rates: Following a cumulative reduction of 125 basis points in the Repo Rate since February 2025, most banks have lowered interest rates on Fixed Deposits (FDs); however, Bank of India has taken a contrary step by increasing its rates.
FD Interest Rate: Offering a boon to its customers, Bank of India has hiked the interest rates on Fixed Deposits (FDs). While most banks have reduced their FD rates in the wake of the Reserve Bank of India's (RBI) cumulative 125-basis-point reduction in the Repo Rate since February 2025, Bank of India has taken a divergent approach by raising interest rates on select medium- and long-term deposits. This public sector bank has increased its interest rates on Fixed Deposits amounting to less than ₹3 crore. These new rates have come into effect today, May 18, 2026.
A Look at the New FD Rates
| FD Tenure | General Citizens | Senior Citizens (Aged 60–80) | Super Senior Citizens (Aged 80+) |
|---|---|---|---|
| 1 Year to Less than 2 Years | 6.50% | 7.00% | 7.15% |
| 2 Years to Less than 3 Years | 6.60% | 7.10% | 7.25% |
| For 3-Year FDs | 6.70% | 7.45% | 7.60% |
