Product Details
Bank Name
Bank of India
Account Name
Bank of India Classic Savings Bank Account General
Account Type
Saving
Interest Rate
Upto ₹ 1.00 lakhs -2.75% and above ₹ 1.00 lakhs - 2.90%
Free Debit Card
Visa Classic
Account Opening Fees
0
Debit Card Charges
Issuance is free and thereafter chargeable.
Annual Maintenance Fees
0
NEFT Charges
Free online
Minimum Account Balance
Average quarterly balance of Rs 10,000
IMPS Charges
Free online
Fees and Charges of
Bank of India Classic Savings Bank Account General
Bank of India Classic Savings Bank Account General
Special Features
Internet banking/Mobile banking facility is available.
Free physical debit card for the first year.
Users will get a group personal accident insurance cover of Rs. 10 lakh.
100% waiver on credit card issuance charges.
Eligibility Criteria
All resident individuals (singly or jointly), Two or more individuals Joint Accounts, Hindu Undivided Families (HUF)
Benefits
Features, Eligibility and Benefits of
Bank of India Classic Savings Bank Account General
Pros & Cons of
Pros
Internet banking/Mobile banking facility is available.
Free physical debit card for the first year.
Internet banking/Mobile banking facility is available.
Users will get 10 free transactions at BOI ATM per month and 5 free transactions at other bank ATMs per month.
Users will get 25 cheque leaves per annum free.
Users will get a group personal accident insurance cover of Rs. 10 lakh.
100% waiver on credit card issuance charges.
Users will get free first issuance of the passbook.
Cons
Low interest rate.
Very few features.
Bank of India Classic Savings Bank Account General
Bank of India Classic Savings Bank Account General Review
The account comes with low interest rate and offers average value add features.
Review of
Bank of India Classic Savings Bank Account General
Account Opening and Procedure of
How to open an Account?
Here's how to open a Savings Bank Account General with Bank of India:
1. Visit a Bank of India Branch:
Go to the nearest Bank of India branch during their business hours.
2. Obtain an Account Opening Form:
Request an account opening form from the bank representative.
You might also be able to download the form from the Bank of India website.
3. Fill out the Form:
Complete the account opening form accurately and legibly.
Provide all the required information, such as your name, address, contact details, and occupation.
4. Gather Necessary Documents:
Proof of Identity (any one):PAN Card (Mandatory)
Aadhaar Card (Mandatory)
Passport
Voter ID card
Driving License
Proof of Address (any one):Aadhaar Card
Passport
Voter ID card
Utility bills (electricity, water, gas)
Photographs: Two passport-sized photographs
5. Submit the Form and Documents:
Submit the completed form and all the required documents to the bank representative.
6. Make an Initial Deposit:
You may be required to make an initial deposit to open the account. The minimum deposit amount may vary.
7. Receive Account Details:
Once your account is opened, you will receive your account number, passbook, and other relevant details.