Know More About
PENSIONERS ACCOUNT

An ideal account for pensioners irrespective of age.
Discover detailed feature insights below.

Bank of India brings a Savings Account that understands your banking needs in your post-retirement days with our Pensioners Account. Designed to offer a host of banking benefits that makes your retirement period more convenient, it’s a reliable and secured savings account to enjoy stress-free golden days.

Pension Savings Account that Doesn’t See Age

Whether you want to retire early or late with pension benefits, Pensioners Account ensures that your banking journey is as convenient as possible so that you can live life to the fullest. Make the best decision for your life after retirement with a trusted savings account by your side.

Experience simplified banking with our user-friendly online and mobile banking platforms. Perform transactions, access account details, and enjoy hassle-free banking from the comfort of your home. Our digital banking services are designed to provide you with a seamless and secure banking experience. You can now open your pension account at the convenience of your home through our digital platform also.

Open the doors to a comprehensive banking experience with the Pensioners Account from the Bank of India. Make the most of your post-retirement life with dedicated financial support from the Bank of India

Eligibility

Individuals drawing regular pension from Bank of India irrespective of age
Minimum Balance Requirement - Nil

Features

Zero Charges on Non-Maintenance of Minimum Balance

Pensioners Savings Account (Without MOU)

Details of Pensioners Savings Account (Without MOU)
Features	Pensioners Savings Account
Category of Account	Normal	Classic		Gold	Diamond		Platinum
Average Quarterly Balance (AQB)	Below Rs. 10,000	Rs. 10,000 & above		Rs 1 Lakh & above	Rs 5 Lakh & above		Rs 10 Lakh & above
Minimum Balance	Presently NO Minimum Balance Charges
Passbook	First Issuance Free			Issuance Free
Free Cheque Leaves	25 Leaves per Quarter				50 Leaves per Quarter	Unlimited
SMS Alerts	Chargeable		Free
WhatsApp Alerts	Chargeable		Free
Locker Rent Concession*	NA			25%	50%	100%
* Note: The Bank reserves the right to recover locker rent upon any downgrade in account category.
ATM / Debit / Credit Card
ATM/ Debit Card Issuance charges	Rupay NCMC	Visa Classic/ Rupay NCMC		Rupay Platinum/ Rupay NCMC	Rupay Select/ Rupay NCMC		Visa Signature/ Rupay NCMC
ATM/ Debit Card Issuance Charges	First Issuance 100% Waiver
Note: Waiver is applicable only to the first issuance and to a single card. Rupay NCMC Card is available as a free choice across all variants. For Senior Citizen Pension Account Holders – Issuance of All variants of Debit Cards is FREE*
ATM/ Debit Card AMC (Subject to Qualify Average Yearly Balance Criteria)	AYB Rs. 50,000/- & ABOVE - 100% Waiver		AYB Rs. 50,000/- & ABOVE - 100% Waiver	AYB Rs. 1,00,000/- & ABOVE - 100% Waiver	AYB Rs. 2,00,000/- & ABOVE - 100% Waiver		AYB Rs. 5,00,000/- & ABOVE - 100% Waiver
ATM/ Debit Card AMC (Additional)	No Waiver			50% waiver
Free Transaction at BOI ATM per month	10*
Free Transaction at other bank ATM per month	5*
*Note: At the time of issuance/replacement/renewal of AMC, charges will be applied based on the prevailing account categorization.
Group Personal Accident Insurance Cover
Accident Death insurance Cover (Base Cover)	Upto Rs. 25 Lakh*
Air Accidental Insurance Cover	Upto Rs. 50 Lakh*
*Note: The Bank currently offers FREE ACCIDENT INSURANCE COVERAGE up to ₹25 lakh or 10 times the Gross Annual Pension, whichever is lower, under this scheme. The cover is subject to the insurer’s prevailing policy terms and conditions and governed by IRDAI guidelines. The Bank reserves the right to modify, convert it into a paid service or terminate the offer at any time, with updates published on the Bank’s website or communicated otherwise.

Pension Advance	Equal to 1 month Net Pension credit or Rs 1 Lakh Whichever is Lower
Instant Personal Loan	Equal to 6 months Average Net Pension or Rs 5 Lakh, whichever is Lower. (All other terms and conditions as arriving Net Take Home (NTH), ROI will be as per bank’s prevailing guidelines for Personal loan)

*Subject to availability of lockers. The proposed concessions will be available only for the locker type A and B for the first year.
* Group Personal Accident Death Insurance Cover of Rs.10 lakhs is offered by the Bank to the Active Account holders of this scheme and the cost of premium will be borne by the Bank.
Note: Bank holds the right to withdraw the facility at its discretion in subsequent year.

Terms and Conditions apply