Frequent question: What is the minimum balance in Bank of India?

Is there any minimum balance required in BOI account?

It aims at maximizing the earnings for the customer, without jeopardizing liquidity. Minimum balance in SB portion is Rs. 50,000/- and minimum balance in Term Deposit Portion is Rs. 10,000/-.

What is minimum balance in BOI?

7500/- in Metro, Rs. 5000/- inUrban and Rs. 2000/- in Urban/Rural Areas.

What happens if minimum balance is not maintained in BOI?

Failure to maintain minimum balance/ minimum Average Quarterly Balance (AQB) in the account will attract levy of charges as specified by the Bank from time to time.

What is the minimum balance in bank?

What Is a Minimum Balance? For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.

Which bank has highest minimum balance?

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

List of Savings Account Banks Minimum Balance Required(INR)
HDFC Bank 2500/5000/10000/25000
ICICI Bank 0/1000/2000/2500/5000/10000
IDBI Bank 500/2500/5000
IDFC Bank 25000
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Which bank does not have minimum balance?

HDFC Bank – Basic Savings Bank Deposit Account

HDFC Basic Savings Bank Deposit Account or BSBDA is a Savings Account that does not require you to maintain a minimum balance on your account.

Is Cheque book free in BOI?

1. Issue of MICR Cheques – SB 25 Cheque leaves free in a year, and thereafter charges of Rs. 3/- per cheque leaf. … Duplicate Pass Book / Statement Issue of first / original SB Pass Book and continuation pass book thereof, on exhaust of existing pass book: Free.

What is the interest rate of BOI?

Bank of India (BOI) Term Deposit Rates: Less than Rs. 2 crore

Tenure Interest rate for general public (p.a.) Interest rate for senior citizens (p.a.)
7 days to 14 days 2.85% 2.85%
15 days to 30 days 2.85% 2.85%
31 days to 45 days 2.85% 2.85%
46 days to 90 days 3.85% 3.85%

What is SMS charges in BOI?

SMS Alerts Rs. 15/- per quarter (if the number of SMSs go beyond 5 in a Quarter) from the customers registered for SMS Alerts.

What is minimum balance in SBI?

SBI, the country’s largest bank, on Wednesday announced a waiver on maintaining the average minimum balance (AMB) requirement for all savings bank accounts. Currently, there is an AMB of ₹ 3,000, ₹ 2,000 and ₹ 1,000 in metro, semi-urban and rural areas, respectively.

How minimum balance is calculated?

MAB is the average of all the closing-day balances in a given month. To calculate the MAB, you need to add each day’s end-of-the-day balance and divide it by the number of days in that month.

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How do I close my Boi account?

You can go to the online web portal of Bank of India and choose the close bank account option. You have to fill up a form and give details like the account holder’s name and bank account number. Also, you will be required to add a registered Aadhar card and mobile number.