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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

Bank of India Normal Government Salary Account
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

0

Debit Card Charges

0

NEFT Charges

Free online

IMPS Charges

Free online

Fees and Charges

Bank of India Normal Government Salary Account

0
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
Pros & Cons
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

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

Product Review
Account Opening and Procedure
How to open an Account?

Here's how to open an Government Salary Account with Bank of India:

  1. 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.

  2. 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.

  3. Fill out the account opening form: The bank representative will provide you with an account opening form. Fill in the required details accurately.

  4. Submit the documents: Submit the completed form and all the required documents to the bank representative.

  5. Make an initial deposit: You may be required to make an initial deposit to open the account. The minimum deposit amount may vary.

  6. Receive your account details: Once your account is opened, you will receive your account number, passbook, and other relevant details.

Application Procedure
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