India
France
HongKong
Japan
Kenya
New Zealand
Singapore
USA
Tanzania
UK
Uganda
Vietnam
Antwerp
Dubai
IBU GIFT CITY
Indonesia
Accounts
Cards
Loans
Deposit
Accounts
MSME
Corporate
Merchant Acquiring Business
Authorised Branches/ Centralised Office
Export Finance
Investments
FX Retail
Special Rupee Vostro Account
Govt. Deposit Schemes
Mutual Funds
Insurance
Accounts
Loans
Invest with us
Insure with us
Remit Money
Ancillary Services
Forms and FAQs
KYC - Updation
Agri Products
Financial Inclusion
Ancillary Services
BOI Double Benefit Deposit
- Double Benefit Deposits provide a higher yield on the principal at the end of the stipulated period as the interest is compounded on quarterly basis; but, the principal and the accrued interest is paid only at the end of the period for which the deposit is placed with the Bank and not monthly or half-yearly as in the case of other types of deposits. This scheme is useful for short term and medium term investment ordinarily ranging from 12 months to 120 months.
- KYC ( Know Your Customer) Norms for opening account are applicable for these accounts also hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s
BOI Double Benefit Deposit
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
BOI Double Benefit Deposit
The accounts may be opened in the names of :
- Individual — Single Accounts
- Two or more individuals — Joint Accounts
- Sole Proprietory Concerns
- Partnership Firms
- Illiterate Persons
- Blind Persons
- Minors
- Limited Companies
- Associations, Clubs, Societies, etc.,
- Trusts
- Joint Hindu Families (accounts of non-trading nature only)
- Municipalities
- Government and Quasi-Government Bodies
- Panchayats
- Religious Institutions
- Educational Institutions (including Universities)
- Charitable Institutions
BOI Double Benefit Deposit
Period and Amount of Deposit
Deposits under Double Benefit Deposit Scheme are accepted for a fixed period from six months upto a maximum period of 120 months. These deposits, on maturity are repayable with interest compounded on quarterly basis. These deposits may be accepted even for periods where the terminal quarter/half year is incomplete.
BOI Double Benefit Deposit
Minimum amount of Deposit
- Minimum amount that may be accepted for the scheme shall be Rs.10,000/-in Metro and Urban Branches and Rs.5000/- at Rural and Semi urban Branches For senior citezens the min amount is Rs5000/-
- Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits Payment of Interest
- Interest will be paid at the time of maturity along with principal with quarterly compounding.(The payment/credit of interest in the account will be subject to TDS as applicable)PAN number is essential for those accounts where TDS is deducted.
- Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows
This is a preliminary calculation and is not the final offer
PRODUCTS YOU MAY LIKE
Star Flexi Recurring Deposit
Star Flexi Recurring Deposit scheme 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.
Learn More
Capital Gains Account Scheme,1988
Capital Gain Accounts Scheme 1988 is applicable to eligible taxpayers who wish to claim exemption u/s 54 for capital gain .
Learn More
