Fixed deposit investors have received new interest rate updates as Bank of India (BoI) and Suryoday Small Finance Bank have revised their FD rates. The changes offer higher returns on selected deposit periods, providing additional interest income opportunities for general customers and senior citizens.
The revised rates come after the Reserve Bank of India increased its repo rate, prompting changes in the banking sector’s deposit interest rates.
Bank of India Introduces Special 500-Day FD Scheme
Bank of India has revised interest rates on selected fixed deposit tenures for deposits below ₹3 crore. The bank has also introduced a special 500-day fixed deposit scheme.
Under this scheme, the interest rates are:
- General customers: 6.85%
- Senior citizens: 7.35%
- Super senior citizens: 7.50%
The bank has also increased rates on selected one-year and longer-term deposits.
Suryoday Small Finance Bank Offers Up to 8.60%
Suryoday Small Finance Bank has introduced special fixed deposit rates for customers looking for higher interest earnings.
For five-year deposits below ₹3 crore, the bank is offering:
- General customers: 8.25%
- Senior citizens: 8.60%
Other special deposit tenures also carry revised rates. For 30-month deposits, general customers can earn 8.10%, while senior citizens receive 8.25%.
When Do the New Rates Apply?
Bank of India’s revised rates are effective from November 2, 2026.
Suryoday Small Finance Bank’s special festive FD rates are applicable from October 30 to November 16, 2026.
What Should FD Investors Know?
Interest rates depend on the deposit amount, tenure and customer category. Senior citizens generally receive additional interest benefits on eligible deposits.
Customers should check the applicable terms, premature withdrawal conditions and tax implications before opening a fixed deposit.
