BOI's 500-Day FD: Senior Citizens Get 7.35%?
Bank of India launched a new 500-day FD called BOI Akshay Deposit from November 2, 2026. Senior citizens earn 7.35% and regular depositors get 6.85%. Minimum investment is just ₹10,000.
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At 7.35%, a ₹5L FD earns ₹10,000+ more than a basic savings account in the same period — that's 6 months of grocery bills.
Senior citizens earn this on Bank of India's new 500-day FD
Key Takeaways
Check if your parents' existing FD is maturing in the next 30 days — compare BOI's 7.35% against their bank's renewal rate before it auto-rolls over.
Calculate post-tax yield: interest above ₹50,000/year (₹1 lakh for seniors in some cases) attracts TDS, so factor that in before switching.
Visit the nearest Bank of India branch or BOI net banking portal to confirm current rates and lock in before the special rate window closes.
Bank of India launched a new 500-day FD called BOI Akshay Deposit from November 2, 2026. Senior citizens earn 7.35% and regular depositors get 6.85%. Minimum investment is just ₹10,000.
Here's what happened: Bank of India revised its FD rates effective November 2, 2026, introducing a new 500-day special deposit called BOI Akshay Deposit.. Senior and super senior citizens earn 7.35% on this scheme; regular depositors earn 6.85%, with a minimum deposit of ₹10,000.. This is a limited special-tenor product, separate from BOI's standard FD rate card, designed to attract retail savers seeking secure returns..
What you should do: Check if your parents' existing FD is maturing in the next 30 days — compare BOI's 7.35% against their bank's renewal rate before it auto-rolls over.. Calculate post-tax yield: interest above ₹50,000/year (₹1 lakh for seniors in some cases) attracts TDS, so factor that in before switching.. Visit the nearest Bank of India branch or BOI net banking portal to confirm current rates and lock in before the special rate window closes..
Super senior citizens (age 80+) often get an additional 0.25% over senior citizen rates at many PSU banks — ask specifically whether BOI Akshay Deposit carries a super-senior tier above 7.35%.
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- [1]“Bank of India revises FD interest rates: Launches 500-day fixed deposit offering 7.35% rate to senior citizens” Wealth-Economic Times · 2 Nov 2026
This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.
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