Bank Of India Flexi Recurring Deposit

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The Star Flexi Recurring Deposit scheme of Bank Of India is a unique Recurring Deposit scheme which offers flexibility to the customer to choose core installment and to also choose monthly flexi installments in multiples of the core installment.

Eligibility: Individuals & Joint Accounts (Including Minors).

Nomination Facility: Available

Minimum Core Monthly installment amount:
Rs.500/- and in its multiples - In respect of Metro and Urban branches
Rs.100/- and in its multiples - In respect of Rural and Semi-Urban branches

Minimum amount of Monthly Installments: No Upper Limit.

Flexi Installment: Any amount in multiples of core monthly installment initially opted at the time of opening of account.

Maximum Flexi installment can be any number of times of the core monthly installment.

Period: Minimum 12 months & Maximum 10 years. (In multiples of 3 months only)

Interest Rate:
Core Installments (Fixed Rate) : As applicable for the period for which the A/c is opened.

Flexible Installments: Applicable rate at the time of deposit of the Flexible installment.

For e.g. A customer opens a Flexi RD account on 01/06/2014 for 5 years with Core installment of Rs.1000/-. Customer will get interest @ 9.05% (then prevailing card rate) for Core portion of Rs.1,000/- for 5 yrs.

If on 01/08/2014, customer deposits Rs.5,000 in his account, then for flexi portion of Rs.4,000/-, he would get Interest for 4 yrs and 9 months at the rate prevalent on 1-08-2014. Thus, there would be multi rates of interest in the A/c.

Address:-
Bank Of India
STAR HOUSE
C - 5, "G" Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400 051.

Phone:-
022-66684444