Bank of India Savings Account

Updated on December 29, 2025

Author: MybankingTips Team

Bank of India provides 9 types of savings accounts to meet the different needs of its customers. With BOI savings accounts, you can access services like internet banking, mobile banking, and earn rewards on credit card purchases.

Table of Contents
BOI Savings Account Interest Rates
Eligibility Criteria 
Documents Required
Features of BOI Savings Account
Types of BOI Savings Accounts
FAQs

Bank of India Savings Interest Rates

BOI Savings Account Balance Rate of Interest
Up to Rs. 1 lakh 2.75% p.a.
Above Rs. 1 lakh 2.90% p.a.

Eligibility Criteria to open a BOI Savings Account

People who can open a savings account with Bank of India include:

1. Residents of India

2. Minors under guardianship, whether legal or natural

3. Illiterate individuals are also eligible to open an account with BOI. However, they must visit the bank in person to provide a thumb impression, which needs to be attested by an approved witness or witnesses.

Documents Required for opening a Bank of India Savings Account

If you want to open a savings account with Bank of India, you need to know what documents are required. Here are the important papers you'll need, along with recent photos, to open a BOI Savings account.

1. Proof of Identity (any one):

  • Aadhaar Card (Mandatory)
  • PAN Card (Mandatory)
  • Passport
  • Driving Licence
  • Voter ID card
  • Defence ID card
  • ID cards of reputed employers

2. Proof of Address (any one):

  • Aadhaar Card
  • Salary slip
  • Ration Card
  • Credit Card Statement
  • Electricity Bill
  • Telephone Bill
  • Income/Wealth Tax Assessment Order
  • Bank account statement
  • Letter from reputed employer
  • Letter from any recognized public authority

Features of BOI Savings Accounts

1. Savings Bank Ordinary Account

Savings Bank Ordinary Account Features
Initial Balance & Average Quarterly Balance requirement
  • Rs.500/- for Cheque book operated and
  • Rs.100/- for non-cheque book accounts
Internet Banking Facility Available
Nomination Facility Available
Eligibility Criteria

Individual, Illiterate Persons, Blind persons, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI

2. Star Suraksha SB Plus Account 

Star Suraksha SB Plus Account Features
Initial Balance Rs. 500
Average Quarterly Balance requirement Rs. 500
Interest Rate 2.90% p.a.
Personal Accidental Death Insurance Cover Rs. 50,000 (Premium Paid by Bank)
Eligibility Criteria Individuals, except Minors, NRIs and accounts under Diamond Category

3. BOI Super Saving Plus

BOI Super Saving Plus Features
Initial Balance Rs. 20 lakh
Average Quarterly Balance requirement Rs. 5 lakh
Period of Deposit Less than 6 months
Nomination Facility Available
Eligibility Criteria All those who can open Savings Account are eligible to open this account

4. BOI Savings Plus Scheme

BOI Savings Plus Scheme Features
Minimum Balance Requirement
  • Rs. 1 lakh in Savings Account
  • Rs. 25,000 in Term Deposit
Auto Sweep Facility Yes
Interest Rate -
Nomination Facility Available
Eligibility Criteria Resident Indian

*The interest rate on the regular savings account part will be the usual rate for regular savings deposits. The interest rate on the SDR/DBD part will depend on how long each deposit is kept and the interest rate at the time of placing or renewing the deposit.

5. SB Account for Pensioners

BOI SB Account for Pensioners Features
Minimum Balance Requirement Zero Balance Savings Account
Internet Banking Facility Available
Issuance of DD/Payslips Free 6 DD/ Payslips per Quarter
Eligibility Criteria All Pensioners drawing pension from Bank of India irrespective of age

6. Diamond Savings Bank Account

Diamond Savings Bank Account Features
Initial Balance NIL
Average Quarterly Balance* Rs. 1 lakh & above
Debit Card Free Issuance of International Platinum card
Free Group Personal Accidental Death Insurance Cover Rs. 5 lakh
Other Features
  • Free issue of cheque book
  • Free NEFT/RTGS through internet banking
  • Free issue of credit card to primary and joint account holders
  • Free SMS alerts

7. BOI Star Yuva Account

BOI Star Yuva Account Features
Average Quarterly Balance Requirement
  • Age group 21-35 years:- Rs.5,000/-in Metro/Urban Branches
  • Rs. 2500/- in Semi-urban/Rural Branches
Internet & Mobile Banking Facility Available
Personal Accident Insurance
  • Complimentary Cover up to Rs.50,000 (Age group of 18-21 years)
  • Rs. 5 lakh cover (After 21 years)

8. BOI Star Mahila SB Account

BOI Star Mahila Account Features
Average Quarterly Balance Requirement Rs. 5000
Internet Banking Facility Available
Group Personal Accident Death Insurance Cover of Rs.5 lakhs (Premium paid by Bank)
Personal Accident Insurance
  • Women (18 years of age and above)
  • Including salaried employees, self-employed professionals like entrepreneurs, doctors, etc. and women with independent source of regular income like rentals, etc.

9. BOI Star Senior Citizen SB Account

BOI Star Senior Citizen SB Account Features
Average Quarterly Balance Requirement Rs. 10000
Internet Banking Facility Available
Group Personal Accident Death Insurance Cover of Rs.5 lakhs (Premium paid by Bank)
Personal Accident Insurance
  • Citizens above 57 years of age
  • Senior citizens drawing pension from other banks

Types of Bank of India Savings Account

Types of Bank of India Savings Account Primary Features
Savings Bank Ordinary Account
  • Initial Deposit & AQB – Rs. 500 (For Cheque Book Operated Accounts)
  • Unlimited ATM transactions (Only at BOI ATMs)
Star Suraksha SB Plus Account
  • Average Quarterly Balance (AQB) – Rs.500
  • Personal Accidental Death Insurance Cover – Rs.50,000
BOI Super Saving Plus
  • Auto Sweep Facility
  • Nomination Facility Available
BOI Savings Plus Scheme
  • AQB – Rs. 1 lakh (Savings Account) & Rs. 25,000 (Term Deposit)
  • Auto Sweep Facility Available
SB Account for Pensioners
  • Zero Balance Savings Account
  • Group Personal Accident Death Insurance – Rs. 5 lakh
Diamond Savings Bank Account
  • Free Issuance of International Platinum card
  • No Initial Deposit
BOI Star Yuva Account
  • Complimentary Personal Accident Insurance
  • Internet & Mobile Banking available
BOI Star Mahila SB Account
  • Exclusive Account for Women
  • Average Quarterly Balance – Rs. 5000
BOI Star Senior Citizen SB Account
  • Average Quarterly Balance – Rs. 10000
  • Group Personal Accident Death Insurance – Rs. 5 lakh

Frequently Asked Questions

No, BOI does not levy any charges in such cases.

You need to keep at least Rs. 500 in your BOI savings account (Savings Bank Ordinary Account) if you live in rural or semi-urban areas. For those in metros or urban areas, the minimum balance required is Rs. 1,000.

Right now, customers can earn an interest rate of 2.90% per annum on their BOI savings account.

Customers can get their questions answered or register their concerns by calling the toll-free number 1800 103 1906.

Indeed, BOI has provided a toll-free Covid support service at 1800 220 229.

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