With the help of Double Benefit Term Deposit you can earn a higher retuen on your investment at the time of maturity of the Term Deposit Account, and the interest is compounded on a quarterly basis. To know more about this deposit product go through the salient features stated below.
· Individual — Single Accounts
· Two or more individuals — Joint Accounts
· Sole Proprietor Concerns
· Partnership Firms
· Illiterate Persons
· Blind Persons
· Limited Companies
· Associations, Clubs, Societies, etc.,
· Joint Hindu Families (accounts of non-trading nature only)
· Government and Quasi-Government Bodies
· Religious Institutions
· Educational Institutions (including Universities)
· Charitable Institution.
The minimum period of deposit is 6 months which is fixed period and the maximum period of deposit is 120 months.
The interest is compounded on a quarterly basis and is paid at the time of maturity.
List of Schemes by Bank of India
Bank of India Capital Gains Tax Saving Scheme
Bank of India Star Sunidhi Tax-Saving Deposit Scheme
Bank of India Star Flexi-Recurring Deposit Scheme
Bank of India Quarterly/Monthly Term Deposit Scheme
BOI Star Yuva Account
Bank of India Saving Bank Ordinary Account