BOI RD Interest Rates 2020, Bank of India Recurring Deposit 2020

BOI RD Interest Rates 2020: Invest fixed sum of amount on monthly basis in Bank of India Recurring Deposit and get attractive interest rates. Build up your savings through regular monthly deposits of a fixed sum over a period of time with BOI RD. This is a great option for those who have fewer earnings as the monthly deposit amount is very less in BOI Account. Bank of India Recurring Deposit (RD) is an ideal way to invest small amounts of money every month and end up with a large kitty on maturity.

Recurring Deposit allows customers with an opportunity to build up their wealth securely through regular monthly deposit of fixed sum over a period of time. Invest very small amounts in Recurring Deposit and get Fixed Deposit interest rates! Maximise its benefits to suit your needs.

Key Benefits of BOI Recurring Deposit

FEATURESBENEFITS
Attractive Interest Rates
  • Upto 7.40% for Senior Citizens
  • Upto 7.00% for Individuals
Flexible Tenor Options

  • Minimum Tenor
  • Maximum Tenor
  • 6 Months
  • 10 Years
Minimum AmountAs low as ₹ 50O
Deposit MultiplesAs low as ₹ 100
Ease of BookingOpen RD on click of a button using internet or mobile banking.

BOI RD Interest Rates 2020

Investment periodRD rates for regular depositRD rates for Senior Citizens
180 days to 269 days6.75%7.25%
270 days to 364 days6.90%7.40%
1 year to 1 year 364 days7.00%7.50%
2 years to 2 years 364 days7.00%7.50%
3 years to 4 years 364 days6.90%7.40%
5 years to 7 years 364 days6.90%7.40%
8 years to 10 years6.90%7.40%

Terms and Conditions on Bank of India RD Account:

  • Loan against deposit
  • High rates of interest (identical to the fixed deposit rates)
  • An investment as small as Rs. 500 (and in multiples of Rs. 100 there after)
  • A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.

    For NRI customers, the minimum tenure of RD is 12 months.

  • For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
  • BOI reserves the right to close the recurring deposit in case the customer misses 5 consecutive recurring deposit instalments.
  • The minimum tenor of Recurring Deposit should be 6 months.
  • The minimum instalment amount should be ₹ 500.
  • The instalment amount should be in multiples of ₹ 100.

Must Read – BOI Fix Deposit

Who is eligible? for Bank of India RD

  • Resident individuals
  • Hindu Undivided Families
  • Private & Public Limited Companies
  • Trust & Societies

How to Apply for Bank of India RD Account

  • BOI Existing customers can open Recurring Deposit through his bank Mobile Banking Application and BOI Internet Banking.
  • Visit the nearest BOI branch and open Recurring Deposit
  • You can also contact BOI and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.

Recurring Deposit: Special Features

  • For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
  • An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 14,99,900 per month
  • A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
  • Ease to submit 15G/H form through Netbanking
  • Set instructions to convert your RD into an FD at maturity
  • Availing nomination facility while booking deposit online

Must – BOI Balance Enquiry No

Documents Required to Open BOI RD Account

Proof of Identity

  • Aadhaar Card
  • Passport
  • PAN card
  • Voter ID card
  • Driving license
  • Government ID card
  • Photo ration card
  • Senior citizen ID card

Address proof

  • Aadhaar Card
  • Passport
  • Telephone bill
  • Electricity bill
  • Bank Statement with Cheque
  • Certificate/ ID card issued by Post office

List of Other Banks Offering RD

State Bank of IndiaHDFC BankICICI BankAxis Bank
Indian BankRBL BankIDBI BankIDFC Bank
Corporation BankAndhra BankPNB BankCanara Bank
Union Bank of IndiaCentral BankBank of IndiaBank of Baroda
Jana BankAU BankEquitas BankUCO Bank
Syndicate BankAllahabad BankKotak Mahindra Bank