Maturity: ₹34,510 at 6.5% p.a. Interest earned: ₹9,510. Senior citizen maturity: ₹35,369.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹25K Fixed Deposit in Bank of India for 5 Years at 6.5% p.a. (quarterly compounding) will mature to ₹34,510. You earn ₹9,510 as interest, giving a total return of 38.0% on your investment.
At 6.5% p.a. (quarterly compounding), ₹25K FD in Bank of India for 5 Years matures to ₹34,510. Interest earned: ₹9,510. Senior citizen maturity: ₹35,369 at 7%.
Bank of India offers 6.5% p.a. for general citizens and 7% p.a. for senior citizens on 5 Years Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹25K at 6.5% for 5 Years, you would earn approximately ₹9,510 as interest, making total maturity ₹34,510. Senior citizens earn ₹10,369 at 7%.
Yes, premature withdrawal is allowed. Bank of India's policy: 0.50% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.