Bank of India Fixed Deposit Singapore

Bank of India fixed deposit schemes help you earn high rates of return on any additional savings you might have lying around. Bank of India offers 2-time deposit accounts: a Singapore dollar fixed deposit account and a foreign currency fixed deposit account. Both the accounts come with a low initial placement amount of 1,000 units of the respective currency and offer a wide range of tenures from 1 month up to a maximum of 12 months. The foreign currency deposit account can be opened in 8 major foreign currencies. Just place your additional savings in any of Bank of India’s available fixed deposits and enjoy attractive interest rates of up to 1.98% p.a. on your investment. 

Bank of India SGD FD Interest Rates

The tenures available for this account range from a minimum of 1 month to a maximum of 12 months. 

The following table provides the interest rates available with the Bank of India SGD fixed deposit account: 

Tenure Interest Rate in SGD Interest Rate in SGD
  5000 to 99,999 (Deposit Amount) 100,000 to 999,999 (Deposit Amount)
1 Month 0.05% 0.05%
3 Months 0.07% 0.07%
6 Months 0.20% 0.20%
12 Months 0.22% 0.22%

Note: Rates are only indicative and are correct as of 21 January 2019.

Bank of India Foreign Currency FD Interest Rates Tables?

The tenors available for the Bank of India foreign currency term deposit range from a minimum of 1 month to a maximum of 12 months, while the placement amounts allowed range from less than 50,000 units to less than 1 million units of any of the currencies provided. 

The following table provides the interest rates available with the Bank of India foreign currency fixed deposit account: 

Currency Interest rate (p.a.)
GBP 0.38% to 1.06%
CHF -
CAD 0%
EUR 0%
NZD 1.58% to 1.98%
AUD 1.9% to 1.98%
JPY -
USD 0.15% to 0.6%

Note: Rates are only indicative and are correct as of 21 December 2018.

Features and Benefits of Bank of India Fixed Deposits 

Bank of India fixed deposits come with the following features and benefits: 

  • Attractive interest rates with a choice of 9 major currency deposit accounts to choose from. 
  • Convenient online banking facility available. 
  • Low minimum age requirement of 21 years old. 
  • Low minimum initial deposit amount of S$1,000 or 1,000 units of the respective foreign currency. 
  • Automatic rollover of your deposit guaranteed for all deposit accounts at maturity. 
  • A broad range of tenors available from 1 month to 12 months. 

Fixed Deposit Schemes Offered by Bank of India 

Singapore dollar fixed deposit account

Bank of India SGD fixed deposit accounts offer attractive interest rates ranging from 0.05% p.a. to 0.22% p.a with flexible tenures of 1 month, 3 months, 6 months, and 12 months. A S$1,000 minimum deposit is required to open this account with Bank of India. Additionally, you may enjoy the handy auto-renewal facility available with your deposit at the time it reaches maturity. Managing all your finances will be a breeze using the online banking facilities offered with most of the Bank of India accounts. Should you want to open deposits accounts containing more than S$1 million, you will have to contact a bank manager to benefit from the attractive interest rates on offer. The same applies in the event you need to open a deposit account with Bank of India for more than 1 year. 

Foreign currency fixed deposit account

The foreign currency time deposit account offers attractive interest rates of up to 1.98% p.a. with 8 major foreign currencies. The currencies you can invest in include: Sterling Pound (GBP), Japanese Yen (JPY), US Dollar (USD), Swiss Franc (CHF), Euro (EUR), Australian Dollar (AUD), New Zealand Dollar (NZD), and Canadian Dollar (CAD). If you are looking to diversify your investment portfolio, a minimum placement deposit amount equivalent to 1,000 units in the respective foreign currency is required. Tenures of 1 month, 3 months, 6 months, and 12 months are available with this account. Should you want to open a foreign currency deposit account for more than 1 year, or for a placement sum greater than 1 million units of the currencies available, you will have to contact a bank manager. The same applies when you are looking to invest in currencies beyond the ones that are currently provided. 

Eligibility?Criteria to Open a Bank of India FD Account in Singapore 

  • Minimum age: 21 and above. 
  • Minimum tenor: Starts from 1 month.  
  • Maximum tenor: Up to 12 months.  
  • Minimum placement amount: 1,000 units of the chosen currency. 
  • Required documents: 
  • Singapore citizens:  
  • Copy of IC 
  • Copy of any telephone bill, credit card statement, bank account statement (not over 3 months old) 
  • Copy of annual tax return, salary slip, or letter from employer 
  • Singapore PR holders:  
  • Copy of a valid passport 
  • Copy of IC 
  • Copy of any telephone bill, credit card statement, bank account statement (not over 3 months old) 
  • Copy of annual tax return, salary slip, or letter from employer 
  • Foreigners:  
  • Copy of valid passport 
  • Copy of any telephone bill, credit card statement, bank account statement (not over 3 months old) 
  • Copy of annual tax return, salary slip, or letter from employer 

Other Deposit Accounts Offered by the Bank?of India 

Bank of India offers current and savings accounts that you might want to know more about to better manage your finances with. 

Current accounts available with Bank of India include:

  • Current Account 

Savings accounts available with Bank of India include:

  • Savings Bank Account 
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Currency Specific Fixed Deposit
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GBP Foreign Currency Fixed Deposit by Bank
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