≡ Menu

Seniors Guide For Bank of India Accounts

Bank of India Type of Accounts

There are actually many different types of account that are offered by the Bank of India according to the need of the customers. But mainly two account are the most popular and details about the same are as follows:

Saving Bank Ordinary Account

  • The Saving bank ordinary account scheme are available at all the branches.
  • People eligible are individual having single account, illiterate persons, blind persons, two or more individuals in joint accounts, associations, clubs, societies, minors etc.
  • Initial deposit and the average quarterly balance needed to be kept is rupee 500 for cheque book operated account and rupee 100 for non-cheque book operated account. You can check your bank details like balance, funds transfer and other banking related tasks with the help of BOI Net Banking.
  • Incentive proved by the bank in saving bank ordinary account are free internet banking facility, Unlimited ATM transactions at all the Bank of India ATMS and 5 free transactions at ATMs other than the Bank of India ATMS, Online Income Tax Return Facility, Personalized cheque book on request and free utility bill payments using the Epay facility provided by the Bank of India. If you are looking for any banking assistance then BOI Customer Care helps you 24/7.

You Can Check Here  For Better Experience with Bank of India

Normal Current Account

  • Normal current account gives optimum value for money. The customers having normal current account need to keep a minimum of average quarterly balance of rupee 5000 for the metro branches, rupee 2500 for the Urban or the semi urban branches and a minimum of rupee 1000 for the rural branches.
  • Cash deposit facility under this scheme is unlimited but there might be charges for cash handling fee.You can get all this information with  out visiting the bank by BOI Mobile App.
  • At the base branch or the home branch, the customer can withdraw unlimited amount of cash but at non-base branch cash can be withdrawal up to rupee 50000 can be done in a day.
  • The customer get free cheque book first time having 50 cheque leaves.

You can compare the different bank accounts SBI Accounts, Andhra Bank Accounts and South Indian Bank Accounts with BOI for more information.

You can Also Check Here

Frequently Asked Questions related to Bank of India Accounts

1. What are the ancillary services provided by the bank under the normal current account?

View Answer
Below are the ancillary services provided under the scheme normal current account:
⦁ Phone Banking
⦁ Corporate Net Banking
⦁ Free statements of Account
2. What are the penalty charge on non-maintaining the saving bank ordinary account?
View Answer
In case of the non-maintenance of the minimum balance, penalty charge of rupee 40 S.T per quarter at all centres will be levied.

View all contributions by