Bank of India basic savings account no Frills

·         Adult Individuals can open account.

·         Firms / Joint accounts not eligible

·         Simplified Know Your customer norms to be complied

·         SB no-frill account to be opened with minimum Zero balances at all branches, subject to compliance of all other terms and conditions.”

·         Free Debit Cum ATM card issued at all CBS branches(Annual Charges applicable from next year )

·         Withdrawals through ATMs & branch withdrawals - max 2 per month.

·         No third party withdrawals

·         Nomination compulsory.

·         Interest @ 3.50 % p.a. on balances -Min interest earning to be Rs. 5/- half yearly.

·         Collection of cheques upto Rs. 5000/=into the account.

·         Free quarterly statement of account at Urban and Metro branches. Pass books at Rural & semi-urban branches.

·         No penalty for not maintaining Min balance.

·         No charges for closure of account.(ATM Debit card to be surrendered at Urban & Metro centres)

·         Account can be converted into normal SB account by maintaining required minimum balance.

·         Branch Managers are delegated to issue one cheque book free to literate account holders.

Identity proof :

    * Passport
    * PAN card
    * Voter ID card
    * Driving licence
    * Government ID card
    * Photo ration card
    * Senior citizen ID card


Address proof :

    * Passport
    * Telephone bill
    * Electricity bill
    * Bank Statement with Cheque
    * Certificate/ ID card issued by Post office