Open Bank Account in Bank of India : Bank of India is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be Bank of India. Opening a Bank Account in Bank of India is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a Bank of India Account. Also, you must know about the eligibility criteria to open a new bank account in Bank of India. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in Bank of India.
How to Open a Bank Account in Bank of India ?
Before we move ahead to know the procedure to open a bank account in Bank of India, let us first know about the eligibility to open Bank of India Account.
Eligibility to Open a Bank Account in Bank of India
Before you make a visit to Bank of India, it’s a good thing to check whether you meet all the criteria for opening an account with Bank of India. Most of the Bank of India Branches will require the following :
1) Applicant must be an Indian Citizen.
2) Applicant must be over 18 years of age (Except Minor Account).
3) Applicant must have the necessary KYC Documents to open Bank of India Account. Usually Proof of Address, Proof of Identity and PAN Card is required.
4) Applicant should have a Guarantor who has a Bank Account in the same branch of Bank of India (Sometimes not needed).
5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in Bank of India.
Types of Bank Accounts offered by Bank of India
Once you know that you are eligible to open a bank account in Bank of India, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Bank of India.
1) Savings Accounts : Savings account in Bank of India can be opened by an individual, two or more individuals as a joint account, minors, associations, blind persons, clubs, societies, etc. The bank provides an interest of 3.5% p.a. twice a year i.e., February and August. With this account, bank also gives incentives like free global debit cum ATM card with free Star Sandesh (SMS) on the debit transactions, free internet banking facility, free SMS Banking and tele-banking etc. Some of the products offered by the Bank are specially designed for the savings account customers. Such products offered by BOI include domestic travel insurance cover at low premium of Rs 63/- per annum, BOI National Swasthya Bima Yojana floter mediclaim policy of NICI offered at low premium, etc.
There are 11 types of Savings Accounts being offered by Bank of India, which are :-
- Star Diamond Savings Account
- BOI Savings Account
- BOI Super Saving Plus
- Star Power Salary Account
- BOI Star Mahila SB Account
- BOI Salary Plus Account Scheme
- BOI Savings Plus Scheme
- BOI Savings account (No Frills)
- Jai Jawan Salary Plus Account
- Star Suraksha SB Plus Account
- BOI star gurukul SB account
2) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Joint Accounts
Steps to Open a Bank Account in Bank of India
Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open Bank of India Account.
1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in Bank of India. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.
2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect Bank of India Account Opening Form from any branch of Bank of India. Fill up Bank of India Account Opening Form completely and put your signature wherever required. You can also take help of Bank of India Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate Bank of India internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled Bank of India Account Opening form and the necessary KYC Documents, you need to visit the Bank of India Branch in which you want to open your Bank Account.
4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.
5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.
6) Collect Passbook and ATM Card : Finally, you will be getting your Bank of India Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using Bank of India ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.
Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.
Good Practices after you get a Bank Account in Bank of India
1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.
2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.
3) Save Bank of India Customer Care Number in your mobile phone.
4) Contact Bank of India customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit Bank of India to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block Bank of India ATM Card ?
Things you must know before opening a bank account in Bank of India
You must know some important things before you apply for a bank account in Bank of India. You can clear the queries mentioned below at any Bank of India Branch or by calling Bank of India Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in Bank of India ? If so, what is it?
- Is there a minimum balance that I must keep within this Bank of India account? If so, what is it? What sorts of fees have to paid if I go under that limit?
- What is the interest rate of my Bank of India Account? How often is the interest generated ?
- Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
- Where all can I withdraw cash without paying any extra fees ?
- What is the fee for using other than Bank of India ATM ?
Bank of India Customer Care Numbers
At any point of time, you need help from Bank of India Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the e-mail address mentioned below.
Toll Free Numbers : 1800 22 0229 / 022-40919191 (Chargeable)
Write to Bank of India Customer Service Department : [email protected]
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