Finance
Bank of India alters fixed deposit yields and rolls out 500-day plan
Originally reported by CNBC TV18 as: Bank of India revises FD rates for select tenures; launches new 500-day deposit scheme
2 Nov 2026, 10:48 am IST · Xecute.finance News Desk
The crisp read
Bank of India has adjusted its term deposit interest rates across specific timeframes. Alongside these alterations, the lender has introduced a special 500-day fixed deposit option for customers. Depositors can now evaluate these revised yields to optimize their short- and medium-term fixed income returns.
Xecute Impact Breakdown
For CAs
- Review existing fixed-income allocations against the newly published fixed deposit interest rates before clients lock in funds.
- Account for applicable tax deducted at source rules on these interest earnings while assisting clients with annual tax filings.
For businesses
- Evaluate the updated tenure yields carefully to maximize risk-free returns on cash holdings.
- Utilize the newly launched 500-day deposit scheme and adjusted maturity tenure options for retail savings.
Deep dive - the full story
Bank of India has officially altered its fixed deposit interest rates across selected maturity tenures while simultaneously introducing a dedicated 500-day deposit scheme for interested savers. The lender adjusted yield offerings to manage its liability profile and attract fresh retail deposits within targeted maturity buckets. Financial institutions periodically recalibrate term deposit structures based on liquidity requirements, credit growth demands, and broader monetary policy signals set by the central bank.
The introduction of specific tenure options, such as the 500-day deposit scheme, provides retail savers with tailored duration choices compared to standard annual buckets, shifting how banks compete for household savings. Depositors and financial advisors should review existing fixed-income allocations against these newly published rates before locking in funds. Tax professionals must account for applicable tax deducted at source rules on these interest earnings while assisting clients with annual tax filings.
Bottom line: Evaluate the updated tenure yields carefully to maximize risk-free returns on your cash holdings.
Source: news.google.com
This is news/educational content, not investment advice. Xecute.finance is not SEBI-registered. Consult a qualified professional before acting.
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