Bank of India Savings Account
Last Updated : Jan. 20, 2025, 5:58 p.m.
Bank of India offers a wide range of savings accounts tailored to meet the needs of diverse customer segments. From basic accounts for daily transactions to premium accounts with enhanced benefits, there is something for everyone. Below is an overview of the types of savings accounts available at Bank of India, highlighting their key features, eligibility criteria, and account-specific details.
Types of Bank of India Savings Account
Below, we have detailed the various types of savings accounts provided by Bank of India, along with their key features and advantages:
Pratham Savings Account
Here are the main features and eligibility criteria to open Pratham Savings account:
| Features | Normal | Classic | Gold | Diamond | Platinum |
|---|---|---|---|---|---|
Average Quarterly Balance | Rs. 5,000 | Rs. 10,000 | Rs. 1 lakh | Rs. 5 lakh | Rs. 10 lakh |
Debit Card Issued | RuPay NCMC | Visa Classic | RuPay Platinum | RuPay Select | Visa Signature |
Free Cheque Leaves | First 25 leaves | 25 leaves per year | 25 leaves per quarter | 50 leaves per quarter | Unlimited |
Group Personal Accident Insurance Cover | Nil | Rs. 10,00,000 | Rs. 25,00,000 | Rs. 50,00,000 | Rs. 1,00,00,000 |
Eligibility |
| ||||
Savings Bank Account General
Here are the main features and eligibility criteria to open Savings Bank Account General:
| Features | Normal | Classic | Gold | Diamond | Platinum |
|---|---|---|---|---|---|
Average Quarterly Balance | Rs. 500 | Rs. 10,000 | Rs. 1 lakh | Rs. 5 lakh | Rs. 10 lakh |
Debit Card Issued | RuPay NCMC | Visa Classic | RuPay Platinum | RuPay Select | Visa Signature |
Free Cheque Leaves | First 25 leaves | 25 leaves per year | 25 leaves per quarter | 50 leaves per quarter | Unlimited |
Group Personal Accident Insurance Cover | Nil | Rs. 10,00,000 | Rs. 25,00,000 | Rs. 50,00,000 | Rs. 1,00,00,000 |
Eligibility |
| ||||
Pensioners Account
Here are the key features and eligibility criteria to open Pensioners Account:
| Features | Normal | Classic | Gold | Diamond | Platinum |
|---|---|---|---|---|---|
Average Quarterly Balance | Nil | Rs. 10,000 | Rs. 1 lakh | Rs. 5 lakh | Rs. 10 lakh |
Debit Card Issued | RuPay NCMC | Visa Classic | RuPay Platinum | RuPay Select | Visa Signature |
Free Cheque Leaves | First 25 leaves | 25 leaves per year | 25 leaves per quarter | 50 leaves per quarter | Unlimited |
Group Personal Accident Insurance Cover | Rs. 10,00,000 | Rs. 20,00,000 | Rs. 35,00,000 | Rs. 60,00,000 | Rs. 1,10,00,000 |
Salary Pension Advance | Equal to 1-month net Pension | Equal to 1-month net Pension | Equal to 1-month net Pension | Equal to 1-month net Pension | Equal to 1-month net Pension |
Eligibility |
| ||||
BOI Star Parivaar Savings Account
Here are the key features and eligibility criteria to open Pensioners Account:
| Features | Gold | Diamond | Platinum |
|---|---|---|---|
Average Quarterly Balance (in all accounts linked under Single Family Group ID) | Rs. 2 lakh | Rs. 5 lakh | Rs. 10 lakh |
Debit Card Issued | RuPay Select | RuPay Select | RuPay Select |
Free Cheque Leaves | Unlimited | ||
Group Personal Accident Insurance Cover | Individual coverage is available based on the Average Quarterly Balance maintained in their savings account | ||
Eligibility |
| ||
Nari Shakti Savings Account
Here are the key features and eligibility criteria to open Nari Shakti Savings Account:
| Features | Normal | Classic | Gold | Diamond | Platinum |
|---|---|---|---|---|---|
Average Quarterly Balance | Nil | Rs. 10,000 | Rs. 1 lakh | Rs. 5 lakh | Rs. 10 lakh |
Health and Wellness Benefits | Bank of India presents a bouquet of dedicated health insurance and wellness products from its existing partners at discounted premiums with attractive features | ||||
Free Cheque Leaves | First 25 leaves | 25 leaves per year | 25 leaves per quarter | 50 leaves per quarter | Unlimited |
Group Personal Accident Insurance Cover | Nil | Rs. 10,00,000 | Rs. 25,00,000 | Rs. 50,00,000 | Rs. 1,00,00,000 |
Girl Child Welfare | For every New Nari Shakti Account opened, the bank will donate Rs 10 towards CSR initiatives for the welfare of the girl child | ||||
Eligibility |
| ||||
BOI Savings Plus Scheme
Here are the main features of the BOI Savings Plus Scheme:
| Features | Details |
|---|---|
Type of Account | BOI Savings Plus combines a Savings Bank Account and a Term Deposit Account to maximize customer earnings without compromising on liquidity |
Minimum Balance | No balance is required in the SB (Savings Bank) portion, but failing to maintain this could result in penalties. The minimum balance in the Term Deposit portion is Rs. 25,000 |
Interest Rates | The savings portion earns interest at the same rate as regular savings accounts. The term deposit portion’s interest rate varies based on the deposit's duration and the prevailing rates on the date of placement or renewal |
Auto Sweep Feature | Any amount over Rs. 1,00,000 in the savings portion is automatically transferred to the term deposit portion in multiples of Rs. 25,000 daily |
Investment Periods | In the SDR (Short Duration Recurring) portion, money can be invested from 15 to 179 days. In the DBD (Defined Benefit Deposit) portion, investments range from 180 to 364 days |
BOI Super Savings Plus Scheme
Here are the main features of the BOI Super Savings Plus Scheme:
| Features | Details |
|---|---|
Availability | The scheme is offered at all CBS branches |
Eligibility | Anyone eligible to open a standard Savings Account (SB) can open this account |
Initial Deposit | A minimum of Rs. 20 lakhs is required to open the account |
Average Quarterly Balance | The account must maintain an average quarterly balance of Rs. 5 lakhs |
Sweep Transactions |
|
Deposit Period | The duration for deposits in the TDR portion is less than 6 months |
No Premature Withdrawal Penalty | Withdrawals from TDR to the SB account to meet liquidity needs are not penalized |
BOI Savings Account Interest Rates for 2026
Here are the savings account interest rates of Bank of India that you must know before you open your account:
| Account Balance | Interest Rate (p.a) |
|---|---|
Up to Rs. 1 lakh | 2.75% |
Above Rs. 1 lakh to less than Rs. 500 crore | 2.90% |
Above Rs. 500 crore to up to Rs. 1,000 crore | 3.00% |
Above Rs. 1,000 crore to up to Rs. 1,500 crore | 3.05% |
Above Rs. 1,500 crore | 3.10% |
Documents Required to Open BOI Savings Account
If you're considering opening a savings account at the Bank of India, it's important to know what documents you need. Here’s a simple list of the essential documents along with your recent photo required to open a BOI Savings account:
Proof of Identity (choose any one):
- PAN Card (required)
- Aadhaar Card (required)
- Passport
- Voter ID card
- Defence ID card
- Employee ID cards from well-known companies
- Driving License
Proof of Address (choose any one):
- Aadhaar Card
- Credit Card Statement
- Salary Slip
- Income or Wealth Tax Assessment Order
- Electricity Bill
- Telephone Bill
- Bank Account Statement
- Letter from a well-known employer
- Letter from any recognized public authority
- Ration Card
How to Open a Bank of India Savings Account Offline?
Here are the steps to open the Bank of India Savings Account through the offline process:
- Download the BOI account opening form from their website.
- Fill in the savings account application form, print it, and then sign it.
- Attach all necessary documents as mentioned previously.
- Ensure all documents are properly attested and verified by recognized bankers or the Indian Embassy.
- Submit the completed form and documents to your nearest branch.
How to Open a BOI Savings Account Via Online Method?
Here are the steps you need to follow to open Bank of India savings account online:
- Visit the Bank of India’s online portal
- Click on the savings account you wish to open
- Enter your contact information and email ID
- Provide your PAN and Aadhaar details for KYC verification
- Complete the form with your personal details and upload the required documents
- Once your information is verified, your savings account will be opened
Frequently Asked Questions (FAQs)
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