Bank of India RD Calculator

Bank of India Recurring Deposits Explained

Bank of India offers recurring deposits from six months to ten years under its Star product branding, through a branch network that remains unusually deep in rural and semi-urban India. Founded in 1906 and nationalised in 1969, it is among the older Indian public sector banks and did not take part in the 2019 and 2020 amalgamation rounds, so its product range and IFSC codes were unaffected by those mergers.

BOI RD Schemes You Can Open

Bank of India groups its recurring products under the Star name, with the variant deciding the instalment discipline rather than the compounding:

• •BOI Star Recurring Deposit — The standard fixed-instalment account, with tenures in three-month steps and a low minimum monthly deposit aimed at small savers.
• •Star Flexi Recurring Deposit — A variant permitting the monthly contribution to vary within a defined band, so an uneven income does not push the account into default.
• •Star Sunidhi and minor accounts — Tenure-specific Star deposits carrying their own conditions, alongside guardian-operated recurring accounts opened in a child name.

Missed Instalments and Early Closure at BOI

Bank of India charges a default fee for each instalment missed, calculated per hundred rupees of the instalment per month of delay and recovered when the account is regularised or netted off at maturity. An account in prolonged default may be treated as discontinued and settled on the instalments received. Premature closure after the minimum period pays the rate applicable to the period actually served, less the penalty.

How to Check BOI RD Interest Rates

RD rates change with RBI policy and each bank's own treasury decisions, so no figure is quoted on this page. Take the rate applicable to your tenure from the BOI Omni Neo app, BOI internet banking, or a branch, then enter it above alongside your monthly instalment to see the exact maturity value.

What Is Specific to a BOI RD

• •BOI stayed out of the 2019 and 2020 public sector amalgamations, so its IFSC codes and deposit terms were not disturbed by a merger transition.
• •The rural and semi-urban branch density is among the highest of the large public sector banks, which matters if you pay instalments over the counter.
• •Omni Neo handles opening, standing instruction, maturity instruction and premature closure without a branch visit.
• •A loan against the accumulated Star Recurring Deposit balance is available after a qualifying period, at a spread over the deposit rate.

Enter the rate Bank of India quotes for your chosen tenure above to see the exact maturity value and how the interest accrues year by year.

To compare this against another lender, or against a lump-sum deposit, use the master RD calculator or the fixed deposit calculator.