Bank of India (BOI) is a trading bank of India and is located with headquarters at Mumbai. It has a remarkable position in the top five banks of India.
Bank of India has 5000 branches which are present all over the states and the union territories of India. These banks are under the control of 54 Zonal offices and 8 NBG Offices. It also has 60 offices in foreign countries, which also include five subsidiaries, five representative offices, and one joint venture. It has 48,680 numbers of employees with total assets of US$88 Billion.
History of Bank of India
It was founded in 1906 by a group of businessmen in Mumbai, Maharashtra. The bank was controlled privately, but in 1969 it was owned by the government of India accompanied by 13 other banks. Initially, there was a single BOI in Mumbai having a capital of 5 million rupees with 50 employees. Over these years the bank has been growing enormously both in the national and international market. All these years it has built its business in the market and has a unique position among its other nationalized banks. It is considered to be the first bank which had decided to extend all its services to all communities residing inside the Indian sub-continent. It entered into the Bombay Stock Exchange in 1921.
Bank of India is spread over 22 foreign countries having their presence over five countries occupying 60 offices, which also include five subsidiaries, 5 Representative offices, and one Joint Venture. Key locations where Bank of India branches are present are Tokyo, Singapore, Hong Kong, London, Paris, and New York.
Services offered by Bank of India
Bank of India offers a wide range of services to its customers which include-
Personal Banking Services
-Savings deposit account
-Salary deposits account
-Term deposit accounts
-Salary deposits account etc.
-Online share trading
Corporate Banking Services
-Trade finance etc.
Rural Banking Services
-Kisan credit card
-BOI samadhan card
-Star bhumiheen Kisan card etc.
-Crop finance etc.
NRI Banking Services
-Insurance, mutual funds, etc.
Bank of India has a history of catering its services according to the needs of its customers. So, it has participated in the digital revolution as quickly as possible by initiating several digital banking services like mobile banking, net banking, etc. It has its ATMs across all over the country, making it easier for its customers to transact without coming to the branch office.
The interest rates offered by it in savings account deposit is quite reasonable and with a par with other banks. Moreover, it provides better services to its customers by regularly updating the customers about the various banking transactions made on their account.
The savings account in Bank of India offers some key advantages to its valued customers, like:
-Issue of ATM/ Debit card from the bank for smooth banking
-Activation of mobile and net banking facility for smooth banking
-Instant credit facility for outstation cheques of up to 10,000 rupees.
-Joint account and nomination Facility is available for various account services.
-Regular update of the multiple transactions received in the registered mobile number.
- Accounts for various sections of the society depending upon their need like Star Yuva account, Mahila SB account, etc.
Star Share Trade (Online Share Trading)
Bank of India provides its customers with the service of operating their trading and investing strategies at home, away from the hassle, and stress. It allows you to manage without visiting the brokers or bank branch. You can carry all your work by just contacting your broker over your mobile devices.
The Bank of India handles all the associated SB/CB accounts and DEMAT accounts while the trading accounts are controlled by the tie-up brokers who are connected with the Bank of India. All the funds/Shares are transferred to the Bank of India report of the customers immediately.
Bank of India is also affiliated with the Pradhan Mantri Jan Dhan Yojana (PMJDY) and its related schemes which portray its willingness to participate with the Govt. of India’s agenda of inclusive growth. It has also widely played its part in opening banking infrastructure in rural parts of the country.
The motto of the bank is "relationship beyond banking," and also it6 can be said that the bank tries with all its wit to fulfill that and provide its loyal customers the best banking services in the world.
|Phone Number||022-66684444, 1800 220 229 / 1800 103 1906|
|Fax||Bank of India|
|Head Office||STAR HOUSE, C - 5,|
|Loan Type||Interest Rate||Minimum Age (in yrs.)||Minimum Income (in Rs.)|
|Personal Loan||12.90% - 13.90% p.a.||21 to 58 years|
|Home Loan||8.85% - 8.90%||21 to 60 years||Regular Income|
|Car Loan||Starting from - For New Car : 9.50%, For Used Car : 8.90%||Minimum 18 years & Maximum 65 years||Regular Income|
|Two Wheeler Loan||Starting from 9.35%||21 to 65 years||Regular Income|
|Business Loan||Starting from 13.00%|
|Loan Against Property||Starting from 10.65%||Min 21 and Max 60 years||Regular Income|