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Old July 4th, 2017, 04:52 PM
shabnams
Super Moderator
 
Join Date: Dec 2012
Default Re: Bank of India Junior Account

Here I am giving all important rules for Accounts for Junior / Minors at Bank of India for your reference:

Bank of India Accounts for Minor / Junior Rules
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.

Here are interest rates for Term Deposit in Bank of India:

For deposits less than Rs.1 Crore

Maturity Buckets Deposits less than Rs.1 Cr
w.e.f. 12.06.17
7 days to 14 days 4.00*
15 days to 30 days 4.25
31 days to 45 days 4.25
46 days to 90 days 6
91 days to 120 days 6.25
121 days to 179 days 6.25
180 days to 269 days 6.5
270 days to less than 1 year 6.5
1 Year & above to less than 2 Yrs 6.8
2 years & above to less than 3 years 6.8
3 years & above to less than 5 years 6.7
5 years & above to less than 8 years 6.7
8 years & above to 10 years 6.7
* Minimum Deposit Rs.1 Lac

For deposits of Rs.1 Cr & above but less than Rs.10 Cr
Maturity Buckets Rs.1 Cr & above but less than Rs.10 Crs
w.e.f. 08.05.17
7 days to 14 days 4
15 days to 30 days 4
31 days to 45 days 4
46 days to 90 days 4
91 days to 120 days 4
121 days to 179 days 4
180 days to 269 days 4.25
270 days to less than 1 year 4.25
1 Year & above to less than 2 Yrs 4.5
2 years & above to less than 3 years 4.5
3 years & above to less than 5 years 4.5
5 years & above to less than 8 years 4.5
8 years & above to 10 years 4.5

Rs.10 Cr & above

Rs.10 Cr & above
Maturity Buckets Rates w.e.f. 12.06.17
07 days to 14 days 4.5
15 days to 30 days 4
31 days to 45 days 4
46 days to 90 days 4
91 days to 179 days 4
180 days to 269 days 4.25
270 days to 363 days 4.25
364 days to 13 months 4.5
Above 13 months to less than 2 years 4.5
2 year to less than 3 years 4.5
3 year to less than 5 years 4.5
5 years to less than 8 years 4.5
8 years to 10 years 4.5
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