Product Details
Bank Name
Bank of India
Account Name
Bank of India Normal Government Salary Account
Account Type
Salary account
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
0
Annual Maintenance Fees
0
NEFT Charges
Free online
Minimum Account Balance
0
IMPS Charges
Free online
Fees and Charges of
Bank of India Normal Government Salary Account
Bank of India Normal Government Salary Account
Special Features
No minimum balance requirement.
Specialized savings account designed to cater to the needs of all government sector employees.
100% waiver on credit card issuance charges.
Eligibility Criteria
Central govt, state govt, GOI undertakings and PSU employees drawing regular salary.
Govt employees of university, schools and colleges or any other such institution/ training colleges (training and non-training staffs).
Benefits
Features, Eligibility and Benefits of
Bank of India Normal Government Salary Account
Pros & Cons of
Pros
Zero minimum balance requirements.
Internet banking/Mobile banking facility is available.
Group personal accidental death insurance cover of Rs.50 lakh.
Permanent total disability cover of upto Rs.50 lakh.
Permanent partial disability cover of upto Rs.25 lakh.
25 free cheque leaves per quarter.
100% waiver on credit card issuance charges.
Air accidental insurance of upto Rs.200 lakhs.
Educational benefits of upto Rs.10 lakh.
Users can avail of instant personal loans equal to 6 months' net salary.
Cons
Low interest rate.
Bank of India Normal Government Salary Account
Bank of India Normal Government Salary Account
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
Bank of India Normal Government Salary Account
Account Opening and Procedure of
How to open an Account?
Here's how to open an Government Salary Account with Bank of India:
Visit a Bank of India branch: Go to the nearest branch and inform the bank representative that you want to open a Government Salary Account.
Provide necessary documents: You will need to submit the following documents:Identity proof: Passport, Aadhaar card, PAN card, Voter ID card, or driving license
Address proof: Passport, Aadhaar card, Voter ID card, or utility bills
Photographs: Two passport-sized photographs
Service proof: If you are serving personnel, you will need to provide your service ID card or a letter from your commanding officer.
Fill out the account opening form: The bank representative will provide you with an account opening form. Fill in the required details accurately.
Submit the documents: Submit the completed form and all the required documents to the bank representative.
Make an initial deposit: You may be required to make an initial deposit to open the account. The minimum deposit amount may vary.
Receive your account details: Once your account is opened, you will receive your account number, passbook, and other relevant details.