Fixed & recurring deposits

Star Monthly Income Fixed Deposit

A Bank of India term deposit that pays interest monthly or quarterly, with monthly interest paid at a discounted value and a maximum term of 10 years.

Current callable domestic/NRO rate bandsFor deposits below ₹3 crore: 3.00% (7–45 days), 4.50% (46–90 days), 4.25% (91–179 days), 5.50% (180 days to below 1 year), 6.50% (1 to below 2 years), 6.60% (2 to below 3 years), 6.70% (3 years), 6.25% (above 3 to below 5 years), and 6.00% (5–10 years). Larger ₹3–below ₹10 crore buckets are published separately.Senior-citizen rateFor deposits of at least ₹10,000 and below ₹3 crore with a term of 6 months to 10 years, the first account holder aged 60 to below 80 receives the published senior-citizen card rate: 3.00% (7–45 days), 4.50% (46–90 days), 4.25% (91–179 days), 6.00% (180 days to below 1 year), 7.00% (1 to below 2 years), 7.10% (2 to below 3 years), 7.45% (3 years), 7.00% (above 3 to below 5 years), and 6.75% (5 to 10 years). Deposits of 3 years and above receive the stated 0.75% senior uplift over the general card rate; the table is controlling for the published senior rate.Maximum tenureUp to 10 years.

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✓ Manually checked 21 Aug 2026 · active

Offered byBank of India

India; available subject to branch and product terms

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Minimum deposit₹10,000 at metro/urban branches; ₹5,000 at rural/semi-urban branches and for senior citizens.View source

Minimum amount is ₹10,000 at metro/urban branches and ₹5,000 at rural/semi-urban branches and for senior citizens.

Source: Star Monthly Income Fixed Deposit
Page / section: Eligibility and minimum amount
Accessed: 21 Aug 2026
Confidence: high

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Maximum tenureUp to 10 years.View source

Maximum period of deposit is 10 years.

Source: Star Monthly Income Fixed Deposit
Page / section: Period
Accessed: 21 Aug 2026
Confidence: high

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Interest payoutInterest may be paid monthly or quarterly; monthly interest is paid at a discounted value and is subject to TDS.View source

Interest is payable monthly or quarterly subject to tax deduction at source; monthly interest is paid at discounted value.

Source: Star Monthly Income Fixed Deposit
Page / section: Interest payment
Accessed: 21 Aug 2026
Confidence: high

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The rate sheet was revised 18 May 2026. The published table is bucketed by deposit size and tenure; values here reproduce the below-₹3-crore callable domestic/ bands.

Source: Rupee term-deposit interest rates
Page / section: Callable domestic and deposits below ₹3 crore
Accessed: 21 Aug 2026
Confidence: high

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Senior-citizen rateFor deposits of at least ₹10,000 and below ₹3 crore with a term of 6 months to 10 years, the first account holder aged 60 to below 80 receives the published senior-citizen card rate: 3.00% (7–45 days), 4.50% (46–90 days), 4.25% (91–179 days), 6.00% (180 days to below 1 year), 7.00% (1 to below 2 years), 7.10% (2 to below 3 years), 7.45% (3 years), 7.00% (above 3 to below 5 years), and 6.75% (5 to 10 years). Deposits of 3 years and above receive the stated 0.75% senior uplift over the general card rate; the table is controlling for the published senior rate.Effective 18 May 2026View source

The official rate page publishes senior-citizen rates by maturity and states the 6-month-plus, below-₹3-crore eligibility and 0.75% uplift for deposits of 3 years and above.

Source: Rupee Term Deposit Interest Rate for Domestic/ — Bank of India
Page / section: Senior Citizen tab — callable rates; Additional Rate applicability
Accessed: 30 Aug 2026
Confidence: high

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Premature withdrawalPremature repayment is permitted under the Reserve Bank of India directives and Bank of India’s current penalty schedule: 0.50% for deposits below ₹5 lakh withdrawn before 12 months, nil for deposits below ₹5 lakh withdrawn after 12 months, and 1.00% for deposits of ₹5 lakh and above. The lower-of-actual-period-or-contracted-rate rule and published death/renewal exceptions also apply.Effective 18 May 2026View source

The current official penalty table publishes the three amount/holding-period bands and the lower-rate treatment for premature repayment.

Source: Rupee Term Deposit Interest Rate for Domestic/ — Bank of India
Page / section: Penalty Details tab
Accessed: 30 Aug 2026
Confidence: high

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Benefits and features

Monthly or quarterly interest payout
Minimum deposit varies by branch location and senior-citizen eligibility
Maximum period 10 years

Eligibility

The official page lists individuals, joint accounts, minors, businesses, trusts and several eligible institutions.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

, residence/identity proof and recent photograph as applicable.

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Deposit maturity estimate

See how much the deposit may be worth at the end. You can change the bank's published rate to test another case.

Money deposited onceThe amount you plan to place in the deposit today.₹one lakh rupees₹1,000₹1,00,00,000Yearly interest rateThe percentage the deposit earns in one year.%0.5%15%How long you keep itThe period before the deposit reaches maturity. months3 months120 months

Money at maturity₹1,16,118one lakh sixteen thousand one hundred eighteen rupees

Money you put in₹1,00,000one lakh rupees

Interest earned₹16,118sixteen thousand one hundred eighteen rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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Find the exact published value

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TableMaturityChoose column

7 days to 14 days · Deposits below ₹3 crore3.00%

This value is copied from Callable domestic/ term-deposit rates. Check the table notes before relying on it.

Source: Rupee Term Deposit Interest Rate for Domestic/ - Bank of India · Domestic/ tab — callable rates Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 15 rows · 3 columnsCallable domestic/NRO term-deposit ratesAnnual interest rates for callable domestic and NRO term deposits, revised 18 May 2026.View tableHide table