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BoI Launches Special FD Scheme

Published on November 03, 2022
Current Context: The Bank of India (BoI) launched a special Fixed Deposit (FD) scheme for its customers.
BoI Launches Special FD Scheme
  • The “Star Super Triple Seven Fixed Deposit” scheme was launched by the Bank of India (BoI).
  • The scheme will offer an interest rate of 7.25% on a 777-day deposit period.
  • For senior citizens, the scheme will offer an interest rate of 7.75% on a 777-day deposit period.
  • At the launch event, the BoI also announced a raise in the interest rate of its already existing 555-day FD Scheme to 6.30%.
  • The bank also raised the interest rates by 25 basis points (0.25%) on other maturities between 180 days and 5 years.
  • The Bank of India is a Government of India-owned public sector bank that was established in 1906 with its headquarters in Mumbai. The current CEO and MD of the bank are Atanu Kumar Das.

Question:

Q.1 The Bank of India will provide a rate of interest of ____% on the Star Super Triple Seven Fixed Deposit scheme.
a. 7.00
b. 7.25
c. 7.50
d. 7.85
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