Bank of India CD Rates - 2017-2018 StudyChaCha

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  #1  
Old March 11th, 2017, 10:45 AM
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Default Bank of India CD Rates

What is base rate of Bank of India? I want to know about Current Deposits Plus Scheme of Bank of India, so tell me where should I search for Current Deposits (CD) Plus Scheme? Can you provide information about Current Deposits (CD) Plus Scheme?
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  #2  
Old March 11th, 2017, 12:46 PM
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Default Re: Bank of India CD Rates

The Base Rate of Bank of India is:
Base Rate 9.65% w.e.f 30.09.2016

Current Deposits Plus Scheme

Available at all branches.

Facility available to Current Deposit Account of Corporates, Proprietorship, Partnership, Individuals, Schools, Colleges and other institutions (other than Banks).

Minimum average quarterly balance of Rs.2,00,000/- in Current Deposit Account and Rs.75,000/- in Short Deposit Account to be maintained initially.

Amount in excess of Rs.2,00,000/- will be transferred to the Short Deposit portion in multiples of Rs.75,000/- for a minimum period of 15 days and maximum period of 91 days

Automatic renewal facility for original tenure and amount of deposit.

Interest will be payable on Short Deposit portion only as per maturity period.

Penalty charges of Rs.1000/- per quarter will be levied

TDS as applicable.

Here I am providing NRI Deposit Rates of Bank of India for your reference:

Bank of India NRI Deposit Rates
Maturity For Deposits of Less For deposits of Rs.1 Cr &
than Rs.1 Cr. above but less than Rs.10 Cr
Rate w.e.f Rate w.e.f
02.12.16 08.02.17
1 Year & above but less than 2 Years 7.00 5.00
2 Years & above but less than 3 Years 7.00 5.00
3 Years to less than 5 years 6.90 5.00
5 years and above up to 10 Years 6.90 5.00

Maturity For deposits of Rs.10 Cr & above w.e.f 09.12.16
1 Year to 13 Months 5.10
Above 13 Months to less than 2 Years 5.10
2 Years to less than 3 Years 5.10
3 Years to less than 5 years 5.10
5 years to less than 8 years 5.50
8 years and above up to 10 Years 5.50

RATE OF INTEREST ON FCNR 'B' DEPOSITS: W.E.F. 01.02.2017
(PERCENTAGE PER ANNUM)
MATURITY USD GBP EUR
1 YR TO LESS THAN 2 YRS 1.76 0.94 0.3
2 YRS TO LESS THAN 3 YRS 2.02 1.21 0.36
3 YRS TO LESS THAN 4 YRS 2.23 1.34 0.48
4 YRS TO LESS THAN 5 YRS 2.37 1.45 0.58
5 YRS (Maximum) 2.5 1.56 0.72

RATE OF INTEREST ON RFC TERM DEPOSITS : W.E.F. 01.02.2017
MATURITY USD GBP
1 YR TO LESS THAN 2 YRS 1.76 0.94
2 YRS TO LESS THAN 3 YRS 2.02 1.21
3 YRS (Maximum) 2.23 1.34
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