All individuals are eligible to open SB A/c. upon submission of identity and address proof. The Bank may call for submission of KYC document at regular interval in accordance with the regulatory compliance. The SB A/c should not be used for carrying out Business/commercial transactions.
Ten Debit entries are allowed free per month.
Inter-Sol deposits are allowed, subject to cash handling charges. Inter-Sol cash withdrawals maximum up to Rs.50,000/- per day, allowed only to the depositor(s) having cheque book facility and not to third parties
Presently, ROI is 3.50% & 4.00 % p.a (as per the balances available in the account) and payable quarterly in the month of February, May, August and November. Interest is calculated on daily balance maintained in the account and credited if it is Minimum Re.1/- or above in nearest rupees.
Nomination facility is available on all Savings Bank Deposit accounts opened by the individuals.
Standing Instructions/Direct Debit (ECS) facility is available for SB Accounts. The charges for execution/ failure are displayed on our Website.
SB A/c. will be treated as DORMANT, if there are no operations for two years or more.
Facility for transferring the account within our Branches is available.
A/c. may be closed anytime at the A/c. maintaining Branch. Closure of A/c. before 12 months is subject to charges, excluding closed within 14 days from A/c. opening date.
ATM / Mobile Banking / Internet Banking facilities are available to all SB A/c. holders.
Charges are levied as per Bank's guidelines and subject to change from time to time with 30 days' notice. For details please visit our Bank's website www.bankofindia.co.in.
The customer can provide their suggestions/feedback/grievance, if any, to the concerned Branch Manager/or submit on our website-http://www.bankofindia.co.in/english/GrievanceForm_pg.aspx
Each depositor in Bank is insured up to a maximum of Rs.100000/- (Rupees One Lakh) for both principal and interest amount held by him/her.
The Bank may disclose information about customers' a/c if required or permitted by Law, rule or regulations, or at the request of Public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder/s