Bank of India has upgraded its savings accounts for all segments which cover salaried employees, households, individuals, youth, etc. “The bank is poised to grow its Savings customer base with these newly upgraded Savings Accounts which are now enriched with the finest features, concessions & insurance cover,” said Rajneesh Karnatak, MD & CEO of Bank of India.
Bank of India’s upgraded savings accounts features
- Group Personal Accident Death Insurance Cover which goes as high as Rs150 Lakh
- Air accidental insurance of up to ₹100 lakh
- Concessional locker facility for Gold & Diamond savings account holder
- Free locker facility Platinum savings account holder
- International Debit Cum ATM card with global access/ acceptance
- Concessional rate of interest on Retail loans
- Waiver of processing charges on Retail Loans
- Free issuance of Credit Cards
- Higher usage limits up to Rs.5.00 lakh on POS & free issuance of Credit Cards with varied AQB.
“We are sure that the upgraded Savings Account which now takes very good care of the savings, convenience, protection & insurance needs of our customers along with attractive features in the form of various concessions,” said Rajneesh Karnatak.
These features are offered to our existing as well as new customers who are on-boarded to the Bank from any platform, he added.
Bank of India revises fixed deposit (FD) interest rates
Bank of India offers an interest rate of 3% to 7.25% on fixed deposits maturing in seven days to ten years to general citizens. These rates are effective from 1 October 2023, according to the Bank of India’s website.
“An additional rate of interest of 25 bps, over & above the existing 50 bps will be paid to Senior Citizens on their retail TDs (Less than ₹2 crore) for all the tenors of 3 Years & above i.e. 75bps,” the lender noted on its website.
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Updated: 10 Oct 2023, 10:42 AM IST
