Bank of India

Bank of India: An Overview

Bank of India was initially a private owned bank, when in it was established in the year 1906 on 7th September. After almost 63 years from its establishment, in the month of July, 1969, this Indian bank was transformed into a nationalized bank. Starting its operation with just 50 employees in a Mumbai based office, this bank has grown rapidly over these years. Presently, it has got a strong national as well as sizable international presence and is considered to be one of the premier nationalized banks in India. Apart from 3, 752 branches in this country, this bank in India has even got one joint venture and three subsidiaries abroad.

Its international footprints located in London, New York, Tokyo, Paris, Singapore and Hong Kong accounts for approximately 17.82 % of B. O. I.’s total business. This was the first bank from India to establish a foreign branch in 1946 in London and in 1974 at Paris in Europe. This Indian bank is associated with B. S. E. (Bombay Stock Exchange) since the year 1921.

Products and Facilities of Bank of India

In spite of being a public sector bank, this bank has got all kinds of products and services, which one can get in a modern bank. With their firm adherence to the policy of caution and prudence, they have been one of the leaders in introducing different kinds of innovative banking services and solutions. Following are the different services offered by B. O. I. in India:

Ancillary Services

Some of the popular supplementary services offered by the bank are as follows:

  • Depository Services
  • Gold Coin (New)
  • Insurance (Domestic travel, health, education etc.)
  • Mutual Fund
  • Remittance
  • Safe Custody
  • Safe Deposit Locker
  • Star Cash Management Service


Apart from the normal credit or debit cards, this bank even offers valued visa or master cards to its worldwide customers. The names of some of the cards offered by this Indian bank are given below:

  • Bank of India Master Card
  • Bank of India VISA Card
  • Gift Card
  • Platinum Debit Card
  • VISA Electron

Deposit Schemes

This bank offers varied types of deposit schemes like savings accounts, current accounts, salary accounts, fixed deposits, term deposits, recurring deposits, double benefit deposits, income certificates (Both quarterly and monthly) and many more. To name a few of these products are:

  • Jai Jawan Salary Plus Accounts (New)
  • Star Benefit C. D. Plus Accounts
  • Star Diamond Savings Account
  • Star Flexi Recurring Deposit Scheme
  • Star Power Salary Account
  • Star Sunidhi Tax Saving Deposit Scheme
  • Star Suraksha S. B. Plus Account


The following are the names of the loans provided by the different branches of B. O. I. located all over the country:

  • Satr Autofin
  • Star Educational Loan
  • Star Holiday Loan
  • Star Home Loan
  • Star I. P. O.
  • Star Mahila Gold Loan Scheme
  • Star Mortgage Loan
  • Star Mitra Personal Loan
  • Star Pensioner Loan Scheme
  • Star Personal Loan

N. R. I. Banking

Besides the different deposit schemes for N. R. I.s, this bank in India offers varied other types of international banking services, some of which are mentioned below:

  • F. C. N. R. (Foreign Currency Non-resident) Accounts
  • Forex Card
  • Integrated Treasury
  • N. R. E. (Non-resident External) Accounts
  • Star e-Remit

Online Services

The different kinds of online services offered by B. O. I. are as follows:

  • Bill Payment
  • Fund Transfer (Inter-bank)
  • Internet Banking
  • Mobile Banking
  • Share Trading
  • Tax Payment
  • Ticket Booking

Contact Information of Bank of India

The head office of this bank is located at the below mentioned address:

Star House
C - 5, "G" Block,
Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051,
Maharashtra, India.
Tel.: + 91 – 022 - 66684444

Last Updated on 4/18/2012

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