Bank of India Term Deposit Rates
Compare the latest Bank of India term deposit (fixed deposit) interest rates, updated daily. Estimate your returns with our term deposit calculator or see how Bank of India stacks up against every major NZ bank.
Bank of India Rates
| Product Details | 1 month ↕ | 3 months ↕ | 4 months ↕ | 5 months ↕ | 6 months ↕ | 9 months ↕ | 12 mths ↕ | 18 mths ↕ | 2 years ↕ | 3 years ↕ | 4 years ↕ | 5 years ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Bank of India Rating: BBB- Min Deposit: $5,000 | 1.85% | 2.95% | 3.05% | 3.15% | 3.45% | 3.45% | 3.70% | 3.90% | 4.25% | 4.25% | 4.30% | 4.35% |
Last updated: July 05, 2026 at 06:29 AM
Bank of India term deposit rates in New Zealand
Bank of India (New Zealand) Limited is the locally incorporated subsidiary of Bank of India, one of India’s largest state-owned banks with a long history and a network of branches spanning multiple countries. The New Zealand arm is a registered bank that offers deposit accounts and term deposit products, and it has built a particular connection with the local community, including many Indian-New Zealanders who value familiarity with the parent bank’s name and reach. The current term deposit rates are shown in the table above; you can also compare all major NZ banks to see where Bank of India sits against the wider market.
How to read Bank of India’s rates table
The table lists the annual interest rate offered for each available term, alongside any minimum investment shown and other product details. Read across each row to match an investment period with its rate, then use the term deposit calculator to estimate the returns for a given amount and term before you commit. Rates here reflect the latest figures we hold, but always confirm the live offer directly with Bank of India before opening a deposit.
Interest payment frequency & compounding
A fixed deposit can typically pay interest on a schedule such as monthly, quarterly, annually, or at maturity, with the chosen frequency affecting how interest accrues and, where compounding applies, your overall return. Bank of India (New Zealand) can confirm which payment options it currently offers and whether interest is paid out or reinvested. Frequent payments suit those who want regular income, while letting interest compound to maturity generally maximises the total received.
Minimum deposits & early withdrawal
Term deposits usually require a minimum opening amount and lock your funds for the agreed period. Check the minimum that applies to the term you want directly with the bank, as it can vary by product. Withdrawing before maturity is generally restricted and may reduce the interest rate applied or involve a break adjustment, so treat a fixed-term deposit as money you can set aside for the full term. Contact Bank of India for its current early-access conditions and any associated costs.
What typically drives Bank of India’s rate changes
Like all New Zealand deposit-takers, Bank of India adjusts its term deposit rates in response to:
- Reserve Bank of New Zealand monetary policy, particularly the Official Cash Rate (OCR)
- Competition among NZ banks for deposit funding
- The bank’s own funding costs and balance-sheet needs
- Broader domestic and international economic conditions
Because these factors shift over time, rates can move up or down between scrapes, and the figures shown are a snapshot rather than a fixed offer.
How Bank of India compares
As a smaller subsidiary of a large international parent, Bank of India (New Zealand) is often considered by depositors who appreciate its global heritage and its standing within the local Indian community. When weighing it against larger domestic banks, compare the headline rate for your preferred term, the minimum deposit, the payment options, and branch or service accessibility. A higher rate at one bank may come with different terms elsewhere, so look at the whole package rather than the rate alone. Retirees and older savers comparing income options may also find the term deposit rates for seniors page a useful starting point.
Risks & considerations
Term deposits offer rate certainty for the chosen term, but a fixed rate can lag behind a rising market, and inflation may erode the real value of your return. Your funds are committed for the term, with limited and possibly costly early access. New Zealand’s deposit protection arrangements may apply; verify the current position and any coverage limits with the bank. This is general information only and not financial advice, so confirm all details and consider your own circumstances before investing.
Bank of India Term Deposit FAQs
What are the current Bank of India term deposit rates?
The Bank of India term deposit interest rates shown above are refreshed daily from published market data so you can compare them at a glance. Rates change frequently, so confirm the current rate and any conditions directly with Bank of India before investing.
Does Bank of India offer special term deposit rates for seniors?
Some New Zealand banks promote term deposit rates aimed at seniors or retirees, while others apply the same rates to all customers. The rates listed here are the standard published rates — contact Bank of India to ask about any seniors, retiree or over-65 offers and eligibility.
Is a Bank of India term deposit the same as a fixed deposit?
Yes. A term deposit is also called a fixed deposit or fixed-term deposit — money is locked in for a set period at a fixed interest rate. Bank of India uses the term "term deposit", but the product works the same way as a fixed deposit.
What is the minimum deposit for a Bank of India term deposit?
Minimum deposit requirements vary by product and term. Where a minimum is published it appears in the rates table above. Confirm the current minimum (and any maximum) directly with Bank of India.
How is interest paid on a Bank of India term deposit?
Most New Zealand banks let you choose when interest is paid — monthly, quarterly, annually, or at maturity — and some offer compounding. The frequency you choose can affect your overall return. Check the options Bank of India offers for your chosen term.
What happens if I break a Bank of India term deposit early?
Term deposits are designed to be held to maturity. Withdrawing early usually means a reduced interest rate, loss of accrued interest, and sometimes a notice period or fee. Ask Bank of India for its current early-withdrawal conditions before you commit.
How is Bank of India term deposit interest taxed in New Zealand?
Interest is taxable income. Bank of India deducts Resident Withholding Tax (RWT) at the rate tied to your IRD number; PIE term deposits are instead taxed at your Prescribed Investor Rate (capped at 28%). Give the bank your correct tax details and consult IRD or a tax adviser for your situation.