|
| Highlights |
|
| Bank |
Bank of India |
| Category |
Regular |
Minimum AQB
(Average Quarterly Balance) |
Rs.25,000/-
|
| Interest Rate |
4% |
| Card Offered |
None
|
|
|
|
Main Features
|
|
- BOI Savings Plus is a mix of Savings Bank Account and Term Deposit Account.
- It aims at maximizing the earnings for the customer, without jeopardizing liquidity.
- Minimum balance in SB portion is Rs.25,000/- and minimum balance in Term Deposit Portion is Rs.5,000/-.
- Any amount in excess of Rs.25,000/- in the SB portion will be auto swept out into the SDR or DBD portion in multiples of Rs.5,000/- on daily basis.
- In the SDR portion, monies can be invested for any period from 15 days to 179 days, as per the customer's choice. In the DBD portion, monies can be invested from 6 months upto and including 10 years, as per the customer's choice.
- Upon maturity, the principal in the SDR/DBD portion would be auto-renewed for an equal period, while the interest would be credited to the SB portion on the concerned due date. The same, if not withdrawn can be swept back again into SDR/DBD for a period of the customer's choice.
- In case the balance in the SB portion is short of the required level to meet cheques presented in the A/c., funds from SB Plus portion will be auto swept in, into the SB portion, in multiples of Rs.1,000/- on daily basis. Although this would amount to Payment before Maturity, no penalty would be charged. The latest SDR/DBD deposit would be closed before maturity (in multiples of Rs.1,000/-) to ensure that the customer does not have to bear higher loss (i.e. LIFO principle to apply).
- Non-maintenance of minimum balance prescribed in the SB portion, will attract a penalty of Rs.200/- per quarter.
- Rate of Interest on the SB portion would be 3.5% p.a., while the Rate of Interest on the SDR/DBD portion will depend on the tenure for which each deposit is placed, and at the ruling Interest Rate as on the date the deposit is placed or renewed.
- TDS norms would apply as per extant rules.
|
|
|
 Fees & charges
Fees & charges
|
|
| Charges for non maintenance of minimum quarterly average balance |
Rs.200/- per quarter. |
| Issue of DD drawn on base Bank/banks branch by cheque/transfer |
Rate Per Rs.1000/-
Upto Rs.1000/- Rs.40/-
Above Rs.1000/- upto Rs.5000/- Rs.45/-
Above Rs.5000/- upto Rs.10,000/- Rs.50/-
Above Rs.10,000/- upto Rs.1lac Rs.3.50
Above Rs.1 lac upto 10lac Rs.3.00 Min. Rs.350/-
Above Rs.10lacs Rs.2.80 Min. Rs.3000/- Max. Rs.26000/-
Note: In case of DD issued against cash
up to Rs.5000/- - Rs. 55/-
Rs.5000/- to Rs.25000/- - Rs. 110/-
Rs.25000/- to Rs.50000/- - Rs. 220/-
Out of Pocket Expenses including providing cover for Drafts/Mail/Telegraphic transfers drawn on up-country centers, if any, should be additionally recovered.
Issue of duplicate DD Rs.60/- per instrument |
| DD cancellation/Revalidation |
Revalidation of DD Rs.35/- per instrument
Cancellation of DD Rs.60/- per instrument
Out of pocket expenses, postages, if any, to be recovered in full. |
| Statement/Duplicate Account Statement |
Statement of Account, on demand FREE
Duplicate Statement of current month - No charge |
| Cheque Books |
MICR cheques – Rs.3.00 per cheque leaf at the time of issue . (All centres)
Non-MICR cheques – Re 2.00/- per cheque leaf at the time of issue of
Non-MICR cheque book. (All centres) However, for S/B a/cs of individuals, 50 cheque leaves per calendar year will be free. |
| Pass Book |
Duplicate Pass Book Rs.55/- per Pass Book (with latest balance) |
| Outstation cheque collection |
Rate Per Rs.1000/-
Upto Rs10,000/- Rs.5/- Min. Rs.45/-
Above
Rs.10,000/- upto Rs. 1lac Rs.5.50/- Min. Rs.55/-
Above Rs. 1lac Rs.4.50/- Min. Rs.550/- Max. Rs.30,000/-
Note: For collection between our own branches, the commission will be shared on 50:50 basis i.e. each branch will charge 50% of the stipulated commission / service charges at its end. |
| Return of Cheque |
Cheque returned unpaid
Local cheques :
Rs.80/- per instrument [due to insufficient funds]
Rs.60/- per instrument [for technical reason]
Outstation cheques :
50% of prescribed collection charges subject to min. Rs.80/- |
| Stop Payment for individual cheque or a range of cheques |
Rs.120/- per instrument (All
Centres)
However, for the loss of cheque
book charges are :
S/B - Rs.280/-, C/D,C/C, O/D - Rs.600/- (flat) are to be recovered.
In the above case, the service charges for return of cheques may not be recovered. Otherwise it would amount to double charging.
Note: cheques drawn on Deposit or Advances accounts when returned where stop payment instructions have been given - Only Service Charges towards stop payment instruction are to be recovered at the time of noting the instruction. |
| Closure of Account |
Closure of Account within 12 months
Rs.150/- (All Centres)
Additionally, the charges for consumption of folios should also be recovered as per the scale of charges applicable. |
| Interest Certificate |
Rs..35/- per certificate |
| Balance Certificate |
Rs..35/- per certificate |
|
|
|
Services & Features
|
Services & Features
|
| Overdraft Facility |
No |
| Reward Points |
No
|
| Internet Banking |
No
|
| Phone Banking |
No
|
| Mobile Banking |
No
|
| SMS Alerts |
No
|
|
|
|
|
|
|
Show All Saving Accounts
|
|
Twitter