Bank of India, BOI

Formed in the year 1906 in Mumbai (earlier Bombay), Bank of India (BOI) is headquartered in the financial capital of India, Mumbai. The bank has spread its wings by 48 zonal offices across the nation. Each zonal office is capable to manage the branch offices under the respective zones. It is to be noted here that Bank of India has 3101 branches across the nation and worldwide. It is the 4th largest public sector bank of India after State Bank of India, Punjab National Bank and Bank of Baroda. Bank of India is regarded as the founder member of Society for Worldwide Inter Bank Financial

Telecommunications (SWIFT), which assists provision of cost effective financial communication and processing services. In the year 2006, Bank of India celebrated 100th anniversary of its operations.

BOI is considered as the first bank in India which was promoted in its earlier days by Indian interests in order to serve all the communities who reside in this beautiful nation. When it was first launched, most of the banks were mostly owned by Europeans and served majorly the interests of the European merchant houses.

There are other banks which were owned by other communities to serve specific communities only. This was the only bank which has got the love and passion of all communities of India starting from Hindu, Muslims, Jews and Parsees. The promoters unified and formed the Bank of India on September 7, 1906 under Act VI of 1882. It started with an official capital of INR 1 crore divided into 100,000 shares each of INR 100. The sponsors of the bank placed 55,000 shares privately and allotted 45,000 shares to the public in the form of IPO on October 3, 1906. The operations of the bank started on November 1, 1906.

With the numerous branches all over India, the bank has many branches all around the globe. It can take the credit of starting operations abroad as the first Indian bank. The first branch outside the Indian soil was inaugurated in London, UK in the year 1946. It is also the first Indian bank to open its branches in Europe. In 1974, we witnessed the launch of a branch office in Paris, France.

Today, it has 29 branches all across the globe along with three representative administrative centers in vital corporate and commercial centers of the world. The bank has now strong foothold in places like New York (USA), Paris (France), London (UK), Hong Kong (Peoples Republic of China), Tokyo (Japan), Dubai (UAE), Singapore, Kenya, Canada and many other countries.

Services

• Online Services
  
• Mobile Banking & Payments
  

• Internet Banking
  
• Pay Bills
  
• Book Ticket
  
• Online Trading in Shares
  
• Tax Payment
  
• Star e-Remit
  

Ancillary Services

• Star Cash Management Services
  
• Remittance
  
• Safe Deposit Vault
  
• Insurance
  
• Mutual Fund
  
• Depository Services
  
• Gold Coin – This is a new service and has been recently launched.

Deposits & Accounts

• Fixed Deposits
  
• Term Deposits
  
• NRI Deposits
  
• Tax Saving Deposits
  
• Foreign Currency Deposits
  
• Flexi Recurring Deposits
  
• Salary Accounts
  
• Savings Accounts
  
• Saving Plus Accounts
  
• Current Deposit Accounts
  
• Star Gold & Diamond Accounts

The bank is always ready to help you whenever you need assistance. The staffs are always active to satisfy the customers as they never think people like you and me as customers but members of a family. There are numerous facilities that you can avail from here which are enlisted below:

• Credit Card
  
• Kiss an Credit Card
  
• Personal Loan
  
• Educational Loan
  
• Exporters Gold Card
  
• Agricultural Loan
  
• Export Finance
  
• Bill Finance
  
• Home or Housing Loan
  
• Car Loan
  
• Corporate Loan
  
• Bullion Banking

All the core banking branches are RTGS and NEFT enabled. The bank has decided to revise rate of interests on their Domestic Term Deposits with effect from 10.03.2011. The Bank Prime Lending Rate (BPLR) has been changed to 13.75% per annum with effect from 03.02.2011. Bank’s Base Rate has been revised to 9.50% per annum with effect from 03.02.2011.

Savings Bank Deposit Rates

• Interest is and will be allowed at the rate as prescribed by the Reserve Bank of India.
  
• The present rate of interest is 3.5% per annum and will be calculated on daily product basis from 01.04.2010 and will be credited twice in one year, once in February and again in August or at the time of closing the account.

You get the advantage of availing and using both debit and credit cards issued by Bank of India.

Debit Cards
 

The cardholders have the choice to apply for BOI Starlinks Debit cum ATM card (VISA) or BOI Global Debit cum ATM card (Master Card). BOI Global Debit cum ATM cards is currently available to accountholders exclusively in networked branches.

Credit Cards

All Credit cards are mainly issued as Corporate Credit Cards for the corporates such as companies, partnership or proprietorship firms and registered institutions and societies and they must have net profit in 2 years of the preceding three fiscal years and must have a bank account with Bank of India. The overall credit or spending limit to Corporates must not exceed 20% of its net profit as per the current fiscal statement and within which the sub limits shall be assigned to its employees or executives as per Corporate’s request.

The bank has upgraded itself with the technological advancement that has occurred across the globe. There are many other services that you can avail from your favourite bank. For more details you can always visit any of the nearest branch office or you can visit the official website. There are many more websites from where you can get ample information regarding the bank, its services, office addresses, interest rates, deposit plans, etc.

The bank has been graded 8th in top 50 Service Brands in the Most Trusted Brands Survey 2010 and 2nd among all Public Sector Banks.
Here is the address of the head office of Bank of India, the bank who cares for you:

Head Office – MUMBAI

Star House,
C-5, G Block,
Bandra Kurla Complex,
Bandra (E),
Mumbai – 400051
Phone: 022-66684444
Fax: 022-66684408