Bank of India products, services and reviews

About Bank of India

Bank of India is a public sector bank founded in 1906 and headquartered in Mumbai, majority-owned by the Government of India and regulated by the Reserve Bank of India. It operates a large domestic branch and ATM network and maintains overseas branches/offices in multiple regions, serving retail, MSME, corporate, institutional, and NRI customers. Core offerings include savings and current accounts, fixed and recurring deposits, remittances and foreign exchange, trade finance, cash management, and a wide range of loans such as home, vehicle, education, personal, gold, and working capital facilities, along with debit and credit cards on major networks. Digital services cover internet banking (Star Connect) with two-factor authentication via StarToken NG, mobile banking through the BOI Mobile app with UPI, IMPS/NEFT/RTGS, bill payments, and account opening options that follow standard KYC and, where available, video KYC. Retail and MSME lending is typically benchmarked to external rates (repo-linked), while deposit and service pricing varies by product and customer segment; the bank publishes its schedule of charges and interest rates and may change them without notice. Deposits are insured by DICGC up to the statutory limit per depositor per bank. The bank is listed on Indian stock exchanges and releases audited financial statements, Basel disclosures, and investor presentations; shareholders and depositors can reference these documents for capital, asset quality, and liquidity metrics. Customer support is available through branches, contact centers, online channels, and an escalation framework that includes an internal grievance redressal mechanism and access to the RBI’s Integrated Ombudsman Scheme for unresolved complaints.