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Product Details
Bank Name

Bank of India

Account Name

BOI Savings Plus Scheme

Account Type

Saving

Interest Rate

Upto ₹ 1.00 lakhs -2.75% and above ₹ 1.00 lakhs - 2.90%

Free Debit Card

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BOI Savings Plus Scheme
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

The minimum balance in the savings bank is Rs.1,00,000 and the minimum balance in Term Deposit is Rs.25,000.

Debit Card Charges

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NEFT Charges

Free online

IMPS Charges

Free online

Fees and Charges

BOI Savings Plus Scheme

74
Special Features

  • BOI Savings Plus is a mix of savings bank accounts and term deposit accounts. It aims to maximize the customer's earnings without jeopardizing liquidity.

  • Any amount in excess of Rs.1,00,000 in the SB portion will be auto-swept out into the SDR or DBD portion in multiples of Rs.25,000 on a daily basis.

  • All benefits of SB Diamond account scheme shall also be available to these accounts.

Eligibility Criteria
An individual residing in India
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros

  • BOI Savings Plus is a mix of savings bank accounts and term deposit accounts.

  • It aims at maximizing the earnings for the customer, without jeopardizing liquidity.

  • Free ATM cum debit card with no renewal charges.

  • Nil processing charges on retail loans.

  • No charges for making DDs.

Cons

  • High minimum balance requirement.

  • Low interest rate.

Application Procedure

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

Opening a BOI Savings Plus Scheme with Bank of India combines the benefits of a savings account and a fixed deposit. Here's how to get started:

1. Visit a Bank of India Branch:

  • Locate your nearest Bank of India branch.

  • Inform the bank representative that you wish to open a BOI Savings Plus Scheme.

2. Provide Necessary Documents:

  • Identity Proof:
    PAN Card (Mandatory)Aadhaar Card (Mandatory)
    Passport

    Voter ID card
    Driving License

  • Address Proof:
    Passport
    Aadhaar Card
    Voter ID card
    Utility bills

  • Photographs:Two passport-sized photographs

3. Account Opening Form:

  • The bank representative will provide an account opening form.

  • Fill in the required details accurately.

4. Submit Documents and Initial Deposit:

  • Submit the completed form and all the required documents.

  • Make an initial deposit to open the account (minimum balance may vary).

5. Account Activation:

  • Once your account is opened, you'll receive your account number, passbook, and other relevant details.

Application Procedure
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