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Bank of India Recurring deposit |
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Re: bank of india recurring deposit
Recurring Deposit is a special type of deposit account which enables a depositor particularly in fixed income group to save by paying into the account an agreed fixed sum of money monthly over a stipulated period. The deposits in this type of account earn compound interest on quarterly basis The Recurring Deposit Accounts can be opened in the names of : Individual Single Accounts Two or more individuals Joint Accounts Illiterate Persons Blind Persons Minors The Interest Rates for the Recurring Deposit of the Bank of India is given below Interest Rates for the Recurring Deposit of the Bank of India Tenure Recurring Deposit Interest Rates below Rs.1 Crore 180 days to 269 days 6.5 270 days to less than 1 Year 6.5 1 Year & above but less than 2 Years 6.7 2 Years to less than 3 years 6.65 3 Years to less than 5 years 6.6 5 years to less than 8 years 6.5 8 years & above to 10 years 6.5 Tenure Recurring Deposit Interest Rates On Rs.1 Crore but below Rs. 10 crore 180 days to 269 days 4.25 270 days to less than 1 Year 4.25 1 Year & above but less than 2 Years 4.5 2 Years to less than 3 years 4.5 3 Years to less than 5 years 4.5 5 years to less than 8 years 4.5 8 years & above to 10 years 4.5 Tenure Recurring Deposit Interest Rates On Rs.1 Crore but below Rs. 10 crore 180 days to 269 days 4.25 270 days to less than 1 Year 4.25 1 Year & above but less than 2 Years 4.5 2 Years to less than 3 years 4.5 3 Years to less than 5 years 4.5 5 years to less than 8 years 4.5 8 years & above to 10 years 4.5 |
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