DelhiDesk Bank of India (BOI) has revised its interest rates on fixed deposits of less than 2 Cr, offering rates ranging from 3.00% to 6.00% on deposit tenors of 7 days to 10 years. Deposits maturing in 1 year will now fetch a maximum interest rate of 7%. BOI is also offering additional interest rates of 25 bps to senior citizens and 40 bps to super senior citizens on their retail TDs for tenors of 3 years and above. The bank reported a consolidated profit after tax for the March quarter of 1,388.19 crore, with improved asset quality reflected in a decreased GNPA ratio of 7.31% in Q4 FY23. BOI has recommended a dividend of Rs. 2.00 (or 20%) per share for the fiscal year 2022-2023.
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– Bank of India (BOI) has revised its interest rates on fixed deposits of less than 2 Cr.
– BOI is offering interest rates ranging from 3.00% to 6.00% on deposit tenors of 7 days to 10 years.
– Deposits maturing in 1 year will now fetch a maximum interest rate of 7%.
– The new FD rates are effective as of 26.05.2023.
– BOI is offering a 3.00% interest rate on fixed deposits that mature within the next 7 to 45 days.
– BOI is offering a 4.50% interest rate on deposits maturing in the next 46 to 179 days.
– BOI is now offering interest rates of 5.00% on deposits with a maturity tenor of 180 days to 269 days and 5.50% on deposits with a maturity tenor of 270 days to less than one year.
– The maximum interest rate on deposits is now 7% for those maturing in one year.
– The interest rate is now 6.00% for deposits maturing in one year or more but less than two years.
– BOI is offering an interest rate of 6.75% on FDs maturing in 2 years to less than 3 years, and 6.50% on FDs maturing in 3 years to less than 5 years.
– BOI is providing an interest rate of 6.00% on deposits with terms between 5 and 10 years.
– Senior citizens will get an additional rate of interest of 25 bps, over & above the existing 50 bps for all the tenors of 3 Years & above ie 75bps.
– Super Senior Citizen will get an additional rate of interest of 40 bps, over & above the existing 50 bps for all the tenors of 3 Years & above ie 90 bps.
– Bank of India’s consolidated profit after tax for the March quarter jumped by 115% to 1,388.19 crore.
– The lender’s profit climbed from 3,406 crore in FY22 to 3,882 crore in FY23.
– Core net interest income for the bank increased by more than 37% to 5,493 crore.
– The net interest margin improved from 2.56 percent to 3.15 percent.
– Its non-interest income for the reporting quarter doubled from 1,587 crore a year earlier to 3,099 crore.
– The gross non-performing assets (GNPA) ratio decreased due to improved asset quality, going from 9.98% in Q4 FY22 to 7.31% in Q4 FY 23.
– The bank has recommended a dividend of Rs. 2.00 (or 20%) per share for the fiscal year 2022–2023.
– Tuesday, June 20, 2023, is the Record Date for evaluating the eligibility of Members eligible to receive Dividend on Equity Shares.
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