Bank Of India Rules And Regulation

Hii sir, I wants to Know the Rules And Regulation of the Bank of India for Opening A Saving Account ?

[shikha]

As you Asking for the Rules And Regulation of the Bank of India for Opening A Saving Account the Rues And Regulation is As Follow

An account may be opened in the name of one person or jointly in the names of two or more persons.

All Savings Bank Accounts irrespective of their mode of operations must comply with KYC standards/Anti Mony Laundering Measures(AML)/ combating Financing of Terrorism(CFT) and Modifications to customer Identification Procedure(CIP).

For opening of accounts proof of identity, proof of address and recent photograph for all individual accounts. For all other accounts some more documents would be required to fulfill the norms.

An Account in the names of two or more persons operated upon by any one or more or all of them, and the balance made payable to any one or more or all of them or anyone or more or all of the survivors of them or to the last survivor, as applicable.


The mode of operation of a joint account should be specified at the time of opening the account and cannot be changed subsequently, without the written consent of all the joint account-holders.

A Savings Bank account of a minor may be opened to be operated upon by the natural guardian of the minor or by the guardian appointed by the Court.

A Savings Bank Account may also be opened in

the single name of a minor aged 10 years or more to be operated upon by the minor.
the joint names of two minor who have completed the age of 10 years to be operated upon by them jointly.

the joint names of two or more minors to be operated upon by a person who is the natural guardian of both or all the minors.

Minimum Balance

Without Cheqye book facility With cheque book facility
Individuals Rs.100/- Rs.500/-
Pensioners Rs.10/- Rs.100/

For Any Queries you may contact on the Following Numbers

1800 220 229 ,1800 103 1906, 022 40919191