Bank Of India Rules

Hi buddy here I have come to get info about on Bank of india SB & CD Rules, so can you here tell me about its rules especially for Revised Savings Bank Account Rules??

As you are asking for Bank of india Revised Savings Bank Account Rules so here I am telling same for you :

Revised Savings Bank Account Rules
Opening and Operation of Accounts :

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.

To read completed Revised Savings Bank Account Rules I am telling process :

Go to the Bank of india official site

Click on rules option under Customer Corner section given in the bottom side

By click there you will land on Revised Savings Bank Account Rules page which look like this image :

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Answered By StudyChaCha Member