Bank of India (BOI) is an Indian public sector bank headquartered in Mumbai’s Bandra Kurla Complex. Established in 1906, it became government-owned in 1969 after nationalisation. BOI is a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), facilitating cost-effective financial processing and communication services.
As of March 31, 2021, Bank of India’s total business reached ₹1,037,549 crore (US$130 billion). The bank has 5,108 branches and 5,551 ATMs globally, including 24 international branches.
Founded on September 7, 1906, by prominent businessmen from Mumbai, it started with a single office, ₹5 million (US$63,000) in capital, and 50 employees. Over the years, it expanded rapidly into a significant institution with a strong national presence and international operations. The bank now boasts over 5,084 branches across India, managed through 54 zonal offices, along with 60 branches, 5 subsidiaries, and 1 joint venture abroad.
In 1997, Bank of India launched its inaugural public issue, followed by a Qualified Institutions Placement in February 2008.
Bank Of India (BOI) Demat account Service
Bank of India stands tall as a premier Depository Service provider, committed to enhancing your banking experience while unlocking the manifold benefits of the depository system for our esteemed clients. Through robust partnerships with trusted entities like the National Securities Depository Limited (NSDL) and Central Depository Services (India) Ltd. (CDSL), we bring you top-notch DEMAT/Depository services.
Whether you’re an individual, an NRI, a corporate entity, a stockbroker, or a clearing member of stock exchanges, Bank of India extends its arms wide to facilitate the opening of Demat Accounts. Our network spans across the nation, with our Centralised DP Offices (BOI NSDL DPO and BOI CDSL DPO) nestled in the heart of Fort, Mumbai. Moreover, all our branches, including those in rural areas, are equipped to assist you in setting up your Demat Account hassle-free.
Bank Of India (BOI) Demat account Benefits
- No Account Opening Charges: Start your investment journey without worrying about hefty account opening fees.
- Zero Custody Fee: Unlike some providers, we don’t burden you with additional custody fees.
- Up to Rs. 50,000 Holding Value: AMC is absolutely free.
- Holding Value Rs. 50,001 to Rs. 200,000: Pay only Rs. 100 per month.
- Holding Value above Rs. 200,000: Enjoy uninterrupted services for just Rs. 350 annually.
- Branch Accessibility: Open your Demat account from any of our branches, including rural locations.
- Sophisticated Back Office System: Experience seamless customer service through our sophisticated back-office system, connecting you with a vast network of designated branches.
- Time-Critical DP Services: With over 300 designated branches enabled to provide time-critical DP services, you can trust us for prompt and efficient transactions.
- Delivery Instructions Slip (DIS): Submit your DIS to your nearest branch or our centralized DPO in Mumbai for execution, ensuring swift and secure transactions.
- Online Trading Account Integration: Clients with a 3-in-1 Online Trading Account can conveniently buy and sell shares over the phone or through the internet, eliminating the need for separate DIS submissions.
- Regular Statements: Stay updated with quarterly statements for all customers, and monthly statements for accounts with transactions, keeping you informed every step of the way.
Things to know to open Demate account in bank of india
- The name on the PAN or IT WEBSITE should match perfectly with the name on the form.
- If the correspondence and permanent addresses specified in the form differ, verification of both addresses must be presented.
- All copies of documentation should be on A4 paper and self-certified.
- Every evidence should be clear and legible.
- Passport-sized photo/s to be fastened to the KYC form, with signature/s appended below the photo.
- In the case of CDSL, passport-sized photo/s must be adhered to the account opening form, and signatures must be written across the photos.
- For dividend and charge details, please attach a copy of your passbook or CTC cheque.
- All account holders’ local, correspondence, and abroad addresses should be given.
- Nominee’s signature across a photograph of any photo ID evidence. Witness’s address and signature are required.
- In the case of a joint Demat account, the SB account should be in the same name and order. If an Aadhar card is submitted, the permanent address must match the details on the card.
- The account opening and KYC forms must be completed in their entirety.
- Any changes to the KYC form and account opening form should be signed by all account holders.
- All forms should preferably be completed in Black Ink.
Open Bank Of India (BOI) Demat account online
1. Access Bank of India’s Official Website
To begin, head over to Bank of India’s official website by visiting “https://bankofindia.co.in/”.
2. Sign In to Your Account
Using your designated User ID and Password, log in to your account securely.
3. Navigate to Demat Services
Locate and click on the “Demat Services” section within the website.
4. Complete the Application Form
Upon redirection to the next page, you’ll find an application form awaiting your input. Fill it out with all the necessary information.
5. Attach Required Documents
Ensure you attach all the documents mentioned in their respective sections on the form.
6. Submit Your Application
Once you’ve completed the form and attached the required documents, hit the “Submit” button to finalize your application.
Open Bank Of India (BOI) Demat account offline
1. Locate Your Nearest Bank of India Branch
First things first, find the nearest Bank of India branch in your vicinity. Whether you’re in the bustling city or a quaint town, Bank of India is conveniently accessible across various locations.
2. Obtain the Demat Account Opening Form
Upon reaching the branch, request the demat account opening form from the friendly staff. They’ll provide you with the necessary paperwork to initiate the process.
3. Complete the Form
Take your time to meticulously fill out the demat account opening form. Ensure all required fields are accurately completed to expedite the process. Your details are crucial for creating a seamless account setup.
4. Compile Essential Documents
Gather all the necessary documents as listed below:
- Proof of Identity: Provide a valid government-issued photo ID such as Aadhar card, passport, or driver’s license.
- Proof of Address: Present documents verifying your current address, including utility bills, Aadhar card, or rental agreement.
- PAN Card: Your Permanent Account Number (PAN) card is essential for financial transactions and tax purposes.
Ensure all documents are clear, legible, and up-to-date to avoid any delays in processing your application.
5. Submission
Once you’ve completed the form and compiled the required documents, it’s time to submit them to the bank officials. Approach the designated counter and hand over your application along with the supporting documents.
6. Verification and Activation
After submission, the bank will initiate the verification process to authenticate your details. Once verified, your demat account will be activated, granting you access to a world of investment opportunities.
7. Start Investing
Congratulations! You’ve successfully opened your demat account with Bank of India. Now, it’s time to embark on your investment journey. Explore a myriad of investment options ranging from stocks and bonds to mutual funds and more.
