Best answer: Is Bank of India safe?

Yes ofcourse… is one of the premium public sector bank with 87.5 % share with govt of india. Each and every penny u deoosited with bank of india is 100 % secure. It does not have any unnessary charges like some other banks. you can deposit money to any of the branches with in india without any fee.

Is my money safe in Bank of India?

Now, as a countermeasure, Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a subsidiary of the Reserve Bank of India (RBI) has insured your account up to Rs. 5 Lakhs for both the principal and interest amount on deposits/accounts held by you.

Is Bank of India a good bank?

Bank of India account is good and I’m using it for the past 2 months . I have to maintain minimum balance of Rs. 500. Their online banking facility is fast to access.

Which bank is the safest bank in India?

There are 34 Schedule Commercial Banks (12 Public Sector Banks & 22 Private Sector Banks) and all of them were tested.


  • SBI, HDFC and ICICI are the safest banks by virtue of being declared too big to fail by RBI. …
  • Some banks had not made certain data available yet as the time of this writing.
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Which is better SBI or BOI?

SBI has an average customer ratings of 4.2, while Bank of India has an average customer rating of 2.5, based on which it is clear that SBI has a high customer service focus, an easy Home Loan process and a quick turnaround.

Are Nationalised banks safe in India?

As per RBI’s schedule of banks, available on the RBI website, there are 12 nationalised banks, including State Bank of India, which are also known as public sector banks. This is the safest category, due to the ownership of the government of India, at least more than 50%. … After PSU banks, come private sector banks.

Should I keep all my money in one bank India?

Never keep all of your savings in one bank account. 2. Another wise way of dealing with this is to stay away from banks with a high rate of bad loans. Anything over 10 percent is a big no-no.

How strong is Bank of India?

As on 31 March 2021, Bank of India’s total business stands at ₹1,037,549 crore (US$140 billion), has 5,108 branches and 5,551 ATMs around the world (including 24 overseas branches).

Is Bank of India good for saving account?

Their internet banking and mobile app is good to use. There is no minimum balance is required even though i will maintain the amount of Rs. 5000. I do visit their branch and the response is very good.

Is BOI Nationalised bank?

Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalised along with 13 other banks.

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Who is the No 1 bank in India?

1. HDFC Bank

Type Private Company
Products Banking
Asset ₹1,189,432 crore (US$170 billion) (2019)
Number of Branches 5,314 (30th September 2019)
Number of ATMs 13,514 (Across India)

Who is the richest bank in India?

HDFC Bank currently ranks as the largest private bank in India, both by assets and market capitalization. The company has the third-largest market capitalization on the Indian stock exchanges, with $112.76 billion.

Which Indian bank is best?

HDFC Bank: HDFC Bank has been ranked India’s No. 1 Bank in forbes’ world’s Best bank report. It has 88,253 permanent employees as of 31 March 2018 and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets.

Is Boi and SBI same?

On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India’s stake in SBI so as to remove any conflict of interest because the RBI is the country’s banking regulatory authority.

Which bank are government bank?

List of Current 12 Sarkari Banks 2022

S.NO Bank Name Headquarter
1. State Bank of India Mumbai, India
2. Punjab National Bank New Delhi, India
3. Bank of Baroda Gujarat, India
4. Canara Bank Bangalore, India

Which bank is good for deposit?

Fixed Deposit Interest Rates

Bank name Tenure Interest rate (%) per annum
IDFC Bank 91 days to 180 days 6.75
Kotak Mahindra Bank 181 to 363 days 6.5
SBI 180 to 210 days 6.35
Axis Bank 6 months to 8 months 29 days 6.25
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