BOI Monthly Deposit - Star Monthly Income Fixed Deposit

What is BOI Star Monthly Income FD?

The Bank of India (BOI) Star Monthly Income FD is a term deposit for people who need a hike in their salaries on a regular basis and cash flows from their savings. It is different from a standard FD that pays a lump sum at the end of the tenure. This scheme generates stable periodic liquidity while ensuring absolute capital preservation.

BOI Monthly Deposit - Amount to be Invested

Here is the Bank of India (BOI) Star Monthly Income, the amount to be invested with their rules for 2026:

1. Minimum Deposit Limits

   • Metro & Urban Branches: ₹10,000 minimum
   • Rural & Semi-Urban Branches: ₹5,000 minimum
   • Senior Citizens: ₹5,000 minimum (regardless of branch location)

2. Exemptions (No Minimum Amount Required)

   The minimum deposit criteria do not apply to funds held under:

   • Subsidies are maintained for welfare programs.
   • Funds used as security for bank guarantees or letters of credit.
   • Deposits made for participating in business tenders.
   • Deposits attached or ordered by a Court of Law.

3. Interest Payout Rules

   • Monthly Payout: Paid at a monthly discounted value
   • Quarterly Payout: Paid at actual BOI FD rates; in this case, the account is treated like a standard Fixed Deposit with a "Quarterly Payout" endorsement.
   • TDS: All interest payments are subject to applicable Tax Deducted at Source.

4. Tenure and Maturity

   • Maximum Period: Deposits are accepted for a maximum of 10 years.
   • Reinvestment: Monthly interest can be credited to your Current or Savings account, that are automatically moved into a Recurring Deposit (RD).

BOI Monthly Deposit Types of Accounts

Under BOI Monthly Deposit, the accounts may be opened in the names of:

• Individual — Single Accounts
• Two or more individuals — Joint Accounts
• Sole Proprietorship 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

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Conclusion

Unlike a standard FD that locks your money away until the very end, this BOI Star Monthly Deposit Scheme is a low-risk income generator. It is particularly effective when used with other Bank of India Special FD Schemes. While the "Monthly Income" variant provides the cash flow you need for current bills, special tenures like the 450-day Star Swarnim or the 777-day Star Utsav.