Product Details
Bank Name
Bank of India
Account Name
Pensioners Account
Account Type
Saving
Interest Rate
Upto ₹ 1.00 lakhs -2.75 and above ₹ 1.00 lakhs - 2.90
Free Debit Card
Rupay NCMC
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0 for the first year.
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Pensioners Account
Special Features
No minimum balance requirement.
No charges on online RTGS/ IMPS transactions.
Group personal accident insurance cover of Rs. 10,00,000.
50% concession in processing charges in retail loans.
Eligibility Criteria
Individuals drawing regular pensions from the Bank of India irrespective of age.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
No minimum balance requirement.
25 free personalized cheque book leaves per calendar year.
Internet Banking/Mobile banking facility is available.
Cons
Very few features.
Low interest rate.
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Here's how to open a Pensioners Account with Bank of India:
1. Visit a Bank of India Branch: Go to the nearest branch and inform the bank representative that you wish to open a Pensioners Account.
2. Provide Necessary Documents: You'll generally need the following: * Proof of Identity: Passport, Aadhaar card, PAN card, Voter ID card, or Driving License * Proof of Address: Passport, Aadhaar card, Voter ID card, or Utility Bills* Photographs: Two passport-sized photographs * Pension Payment Order (PPO): This document authorizes the bank to credit your pension.
3. Fill Out the Account Opening Form: The bank representative will provide you with an account opening form. Fill in the required details accurately.
4. Submit the Documents: Submit the completed form and all the required documents to the bank representative.
5. Account Activation: Once your documents are verified, your Pensioners Account will be activated. You'll receive your account number, passbook, and other relevant details.
Additional Information: