How to Apply for a Savings Account in Bank of India
India has a various banking system with many banks multiply across the country. People must learn how to keep and it is the obligation of the administration to encourage its citizens to save money by opening savings account in the bank.
By saving in the bank, depositors can earn interest from their deposits and they may place their money in a safe area. Any deposits in the bank are covered by government, meaning you will not lose money even though the bank went to bankruptcy.
Bank of India is a government-owned commercial bank with headquarters based in Mumbai. BOI was founded in 1906 and nationalized in 1969. It is India’s 4th biggest bank by all of the nationalized banks, after State Bank of India, Punjab National Bank and Central Bank of India.
Presently, Bank of India has 3358 branches, including 27 departments outside India. BoI is one of the banks in the world who established of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), that brings out requirements of cost-effective monetary processing and communication services.
Some of the banking stuff and services presented by Bank of India are the preceding: mercantile banking, retail banking, private banking, asset management, loan agreement and credit cards. Its current managing director is Mr. Alok Kumar Misra.
The official website of Bank of India is bankofindia.com.
If you want to apply for a bank account in Bank of India, you can see below the necessary requirements. You can use the following demands in opening a new bank savings account in Bank of India.
1. Evidence of Identity
i. Passport
ii. Voter ID card
iii. PAN card
iv. Driver’s License
v. Government or Defense ID sheet
vi. ID card of a creditable employer
vii. Photo ID card disseminated by Post Office
2. Evidence of Address (Any one of the following)
i. Telephone Bill
ii. Salary sheet (with address)
iii. Electricity Account of charges
iv. Income Tax/Wealth Tax Assessment Order
v. Bank Account Record
vi. Letter fro a reputed employer
vii. Credit card statement
viii. Ration sheet
ix. Letter from any acknowledged public authority
3. Two recent photographs (2.5 cm x 3.5 cm)
Bank of India has many branches all over India so it may not be a problem on what arm to choose from. It would be more appropriate to inquire a savings account to the arm near your place or employment. In this way, you will be able to fix several problem that may arise in the future concerning your bank account.
Gil Tenorio is a personal finance blogger who loves blogging on financial education, saving, investing and make money online. To get helpful details on how to budget and apply a new savings account at Bank of India, you should visit India Bank blog for more articles on saving, investment and online money making.
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