Bank of India Savings Account

• Rs.500 is required to be maintained as a minimum quarterly balance for chequebook accounts. On the other hand, Rs.100 quarterly balance for non-chequebook accounts. 
• Free utility payments, unlimited Automated Teller Machines (ATMs), online income tax return filing, internet banking, personalized chequebooks, etc. 
• Bank charges a penalty for non-maintenance of account. 

BOI Super Savings Plus 

BOI Super Savings Plus savings account can be opened individually or jointly. Apart from this, any Indian resident, irrespective on illiterate, minor, blind, etc. The following are the features and benefits of BOI Super Savings Plus savings account: 

• Customers should deposit an initial amount of Rs.2 lakhs to open this savings account. 
• Rs.5 lakhs to be maintained as an average quarterly balance. 
• In case the customer fails to maintain the minimum balance, the bank will levy a penalty of Rs.350 per quarter. 
• Certain facilities such as advance money, nomination, and auto sweep are available. 

BOI Savings Plus Scheme 

Savings Plus Scheme of Bank of India has features of savings accounts and term deposits with a nomination facility. The following are the features and benefits of BOI Savings Scheme: 

• People opting for the BOI Savings Plus Scheme should maintain a minimum balance of Rs.50,000 in the savings account and Rs.10,000 for a term deposit. 

• In case your savings account deposit amount is more than Rs.50,000, the excessive amount will get transferred to the fixed deposit scheme. 
• If the minimum balance of the account is not maintained, you have to pay a penalty of Rs.200 per quarter. 

BOI Star Yuva Account 

BOI Star Yuva Account scheme is for the young generation customers. The following are the features and benefits of BOI Star Yuva Account: 

• People between 21 and 35 years with an initial deposit of Rs.5,000 for metropolitan cities as well as Rs.2,500 for semi-urban as well as rural branches. 
• It provides various facilities such as utility payments, net banking, fund transfer through NEFT/ RTGS, and reward points on using debit cards for cash withdrawal from Bank of India ATMs. 
• Personal accident coverage of up to Rs.50,000 for 18 to 21 years and Rs.5 lakhs for customers over 21 years of age. 
• Receive 20 reward points on opening fixed deposits or recurring deposits. 

BOI Star Senior Citizen SB Account 

People over 57 years of age who withdraw pension from other banks can apply for this star senior citizen savings bank account. The account can be opened individually or jointly. The following are its features and benefits: 

• You have to maintain an average quarterly balance of Rs.10,000. However, there is no such requirement for minimum daily balance maintenance. 
• BOI provides a personalised chequebook having 50 pages in a year as well as six demand drafts for free. 

BOI Star Mahila SB Account 

This savings account is for female candidates who are more than 18 years of age. If you are a self-employed, professional, or salaried individual, you can apply for a BOI Star Mahila Savings Bank Account. The following are the features and benefits of a BOI Star Mahila SB Account: 

• Customers do not have to maintain any minimum balance. However, Rs.5,000 should be maintained as the average quarterly balance. 
• The bank issues six free demand drafts in one month and provides a personalised chequebook of 50 pages. 
• It provides personal accident and death insurance coverage of Rs.5 lakhs. 
• Bank also levies penalty for non-maintenance of the average quarterly balance. 

Diamond Savings Bank Account 

The following are the features and benefits of Bank of India Diamond Savings Bank Account: 

• Customers should maintain an average quarterly balance of Rs.1 lakh. However, you don’t have to pay an initial deposit minimum balance. 
• Customers can also transfer funds through NEFT or RTGS without paying any additional charges. 
• The bank also offers 100% waiver on car, home, and personal loan processing charges. However, to avail this benefit, your bank account should be active for six months before the loan sanction date. 
• Bank issues free chequebooks and you do not have to pay any debit entry charges. 

Star Suraksha SB Plus Account 

You can open Star Suraksha SB Plus Account individually or jointly. This account can be opened by every Indian citizen and Non-Resident Indian (NRI) except minors. The following are the features and benefits of BOI Star Suraksha SB Plus Account: 

• Customers should maintain an initial balance as well as an average quarterly balance of Rs.500. 
• You can avail online Income Tax Return Filing, one Demand Draft up to Rs.25,000, utility bill payment, and death and group personal accident insurance coverage of Rs.50,000. 
• The bank will levy a penalty on non-maintenance of the minimum balance. 

How To Open a Bank of India Savings Account? 

The following are the steps to open a Bank of India Savings Account: 

• Download the Bank of India account opening form from the official website of the bank. 
• Once you have taken a printout of the form, you need to fill up the application form and sign it. 
• Next, you have to attach the required documents with the application form. 
• Visit your nearest branch of the Bank of India and submit the duly filled application form and the documents. 

Eligibility Criteria to Open a Bank of India Savings Account: 

Given below are the eligibility criteria to open a Bank of India savings account: 

• An applicant should be a resident of India. 
• Minors are also eligible to open an account. 

Documents Required:

You need to submit the following documents to open a BOI Savings account: 

Proof of Identity 

• Permanent Account Number (PAN) card 
• Passport 
• Aadhar Card 
• Voter ID Card 

• Driving License 
• Defence ID Card 

Proof of Address 

• Credit Card Statement 
• Aadhar card 
• Electricity bill 
• Telephone bill 
• Salary slip 
• Bank account statement 
• Income Tax Assessment Order 
• Ration card 
• Letter from employer