Product Details
Bank Name
Bank of India
Account Name
SB Rakshak Account
Account Type
Salary account
Interest Rate
Upto ₹ 1.00 lakhs - 2.75% and above ₹ 1.00 lakhs - 2.90%
Free Debit Card
Visa Classic
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
SB Rakshak Account
Special Features
Rakshak salary account is designed exclusively for all the brave warriors of our country.
Zero minimum balance requirements.
Eligibility Criteria
All permanent employees of defence forces, i.e. Indian Army, Indian Air Forces, Indian Navy, Paramilitary Forces and Coast Guards. Agniveers are also eligible under the scheme along with ex-servicemen.
All permanent employees of the central and state police, civil police, home guards, traffic police and reserve police of all states, police force of the UTs, RPF and GRP.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero minimum balance requirements.
Internet Banking/Mobile banking facility is available.
Group personal accidental death insurance cover of Rs.50 Lakh.
Permanent total disability cover of upto Rs.50 Lakh.
Permanent partial disability cover of upto Rs.25 Lakh.
Cons
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 an SB Rakshak 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 SB Rakshak 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.