Product Details
Bank Name
Bank of India
Account Name
Platinum Government Salary Account
Account Type
Salary account
Interest Rate
Upto ₹ 1.00 lakhs - 2.75% and above ₹ 1.00 lakhs - 2.90%
Free Debit Card
Visa Signature
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Average quarterly balance of Rs. 10,00,000.
Debit Card Charges
Issuance is free and thereafter chargeable.
NEFT Charges
Free if done through net banking/mobile banking
IMPS Charges
Free if done through net banking/mobile banking
Fees and Charges
Platinum Government Salary Account
Special Features
100% concession in processing charges in retail loans.
100% waiver on credit card issuance charges.
25 bps concession in rate of interest in retail loans.
100% concession in locker rent.
Specialized savings account designed to cater to the needs of all government sector employees.
Eligibility Criteria
All private sector employees/ corporate employees drawing regular salary.
Private sector employees of university, schools and colleges or any other such institution/ training colleges (training and non-training staffs).
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
100% waiver on credit card issuance charges.
Internet banking/Mobile banking facility is available.
Group personal accidental death insurance cover of Rs. 150 lakh
100% concession in processing charges in retail loans.
100% concession in locker rent.
25 bps concession in rate of interest in retail loans.
Permanent total disability cover of upto Rs.50 lakh.
Permanent partial disability cover of upto Rs.25 lakh.
Air accidental insurance of upto Rs.200 lakhs.
Educational benefits of upto Rs.10 lakh.
Users can avail of instant personal loans equal to 6 months' net salary.
Cons
Low interest rate,
No cashback or rewards benefits.
High average quarterly balance requirements.
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Here's how to open an Private Salary Account with Bank of India:
Visit a Bank of India branch: Go to the nearest branch and inform the bank representative that you want to open an Private Salary Account.
Provide necessary documents: You will need to submit the following documents:Identity proof: Passport, Aadhaar card, PAN card, Voter ID card, or driving license
Address proof: Passport, Aadhaar card, Voter ID card, or utility bills
Photographs: Two passport-sized photographs
Service proof: If you are serving personnel, you will need to provide your service ID card or a letter from your commanding officer.
Fill out the account opening form: The bank representative will provide you with an account opening form. Fill in the required details accurately.
Submit the documents: Submit the completed form and all the required documents to the bank representative.
Make an initial deposit: You may be required to make an initial deposit to open the account. The minimum deposit amount may vary.
Receive your account details: Once your account is opened, you will receive your account number, passbook, and other relevant details.