Study of Various Financial Product and Services

STUDY OF VARIOUS FINANCIAL
PRODUCT AND SERVICES

(WITH REFERENCE TO BANK OF INDIA)
BACHELOR OF MANAGEMENT STUDIES

SEMESTER VI
Submitted
In Partial Fulfilment of the Requirements
For the Award of Degree of
Bachelor of Management Studies
By
BHATKAR SHREYAS UDAYRAJ
ROLL NO: - 23
R.P GOGATE COLLEGE OF ARTS AND SCIENCE AND

R.V. JOGALEKAR COLLEGE OF COMMERCE,
RATNAGIRI
Advocate N.V. Joshi Road
Near Ratnagiri District Court
Ratnagiri (India) – India
R.E. Society’s
R.P. Gogate College of Arts and Science &
R. V. Jogalekar College of Commerce, Ratnagiri.
CERTIFICATE
This is to certify that BHATKAR SHREYAS UDAYRAJ has worked

and duly completed his Project Work for the Degree of Bachelor of
Management Studies under the faculty of Commerce in the subject of
T.Y.BMS, Roll No. 23 and his project is entitled as, “STUDY OF
VARIOUS FINANCIAL PRODUCT AND SERVICES (WITH
REFERENCE TO BANK OF INDIA)” under my supervision. I further
certify that the entire work has been done by the learner under my
guidance and that no part of it has been submitted previously for any
Degree or Diploma of any University. It is his own work and facts
reported by his personal findings and investigations.
PRINCIPAL
Course Co-Ordinator
Project Guide/Internal Examiner: -
External Examiner
Date of Submission: -
DECLARATION
I, the undersigned BHATKAR SHREYAS UDAYRAJ hereby, declare

that the work embodied in this project work titled “STUDY OF
VARIOUS FINANCIAL PRODUCT AND SERVICES (WITH
REFERENCE TO BANK OF INDIA)” form my own contribution to
the research work carried out under the guidance of MR. SWAPNIL Y.
JOSHI is a result of my own research work and has not been previously
submitted to any other University for any other Degree/Diploma to this
or any other University. Wherever reference has been made to previous
work of other, it has been clearly indicated as such and included in the
biography. I, hereby further declare that all information of this document
has been obtained and presented in accordance with academic rules and
ethical conduct.
Certified by:
Name and Signature of the Guiding Teacher
Name and Signature of the Learner

ACKNOWLEDGEMENT
It is difficult to list the number of people who have helped me because

they are many in number.
I would like to thank the University of Mumbai for giving me a chance
to do this project.
I would like to thank our Principal Dr. P. P. Kulkarni for providing
necessary facilities required for completion of project.
I take this opportunity to thank our Co-Ordinator Dr. M. R. Sakhalkar
for his moral support and guidance.
I would like to thank our Vice Principal Dr. Y. K. Aowte for her
valuable inputs and guidance.
I take this opportunity to thank our Head of Department Mrs. A. M.
Deosthali for her motivation and moral support.
I would also like to express my sincere gratitude towards my project
guide Mr. Swapnil Y. Joshi whose guidance & care helped me complete
this project.
I would like to thank my College Library for providing me with various
reference books and magazines related to my project.
Finally, I would like to thank each and every person who helped me
directly or indirectly in completion of this project.
Special thanks to my parents and peers who supported me throughout
the project.
INDEX
Chapter No. Title Page

No.
1. Introduction 1. Introduction
2. Abstract
2. Research 1. Research Methodology
Methodology 2. Objectives
3. Hypothesis
4. Significance of Study
5. Limitations of Study
3. Literature Review of Literature
Review
4. Objectives 1. To study and analysis of deposit
product Bank of India.
2. To study and analysis of loan
product of Bank of India.
3. To study and analysis of
investment product of Bank of
India.
4. To study and analysis of services
of Bank of India.
5. Data Analysis Analysis and Interpretation of
& Financial Statements
Interpretation
6. Findings and 1. Findings based on Objectives &

Conclusion Hypothesis
2. Recommendation
3. Conclusions
4. References
5. Annexure
STUDY OF VARIOUS FINANCIAL PRODUCT AND SERVICES
Chapter 1: INTRODUCTION
R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 1

INTRODUCTION
Financial Product and Services in India:
India has a diversified financial sector undergoing rapid expansion, both in terms of
strong growth of existing financial services firms and new entities entering the
market. India’s diverse and comprehensive financial services industry is growing
rapidly, owing to demand drivers (higher disposable incomes, customized financial
solutions, etc.) and supply drivers (new service providers in existing markets, new
financial solutions and products, etc.). The Indian financial services industry
comprises several key sub segments. These include, but are not limited to- mutual
funds, pension funds, insurance companies, stock-brokers, wealth managers, financial
advisory companies, and commercial banks- ranging from small domestic players to
large multinational companies. The services are provided to a diverse client base-
including individuals, private businesses and public organizations.
Bank of India:
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.
Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50
employees, the Bank has made a rapid growth over the years and blossomed into a
mighty institution with a strong national presence and sizable international operations.
In business volume, the Bank occupies a premier position among the nationalised
banks.
The Bank has over 5000 branches in India spread over all states/ union territories
including specialized branches. These branches are controlled through 59 Zonal
Offices and 10 NBG Offices. There are 45 branches/ offices abroad which includes 23
own branches, 1 representative office and 4 Subsidiaries (20 branches) and 1 joint
venture.
The Bank came out with its maiden public issue in 1997 and follow-on Qualified
Institutions Placement in February 2008.
While firmly adhering to a policy of prudence and caution, the Bank has been in the
forefront of introducing various innovative services and systems. Business has been
conducted with the successful blend of traditional values and ethics and the most

modern infrastructure. The Bank has been the first among the nationalised banks to
establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at
Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India. It
pioneered the introduction of the Health Code System in 1982, for evaluating/ rating
its credit portfolio.
Presently Bank has overseas presence in 18 foreign countries spread over 5 continents
– with 45 offices including 4 Subsidiaries, 1 Representative Office and 1 Joint
Venture, at key banking and financial centres viz., Tokyo, Singapore, Hong Kong,
London, Paris, New York and DIFC Dubai.
ORGANIZATION:
Work Culture:
It is the work culture which decides the way employees interact with each other and
how an organization function. In layman’s language work culture refers to the
mentality of the employees which further decides the ambience of the organization.
Timing of Bank:
Day Lunch Time Work Time
Monday to Friday 02.00 pm to 02.30 pm 10.00 am to 05.00 pm
2nd & 4th Saturday Holiday Holiday
Employees are expected to work hard and demonstrate loyalty to the firm, in
exchange for some degree of job security and benefits, such as housing subsidies,
good insurance, the use of recreation facilities, and bonuses and pensions.
1. Staff should remain truthful to the objective of the organization and duty towards
the clients.
2. Staff should not indulge in any criminal activities such as theft, telling lies, fraud,
accepting or giving bribe or any other crimes.
3. Staff should not accept any free gifts or items from the clients.
4. Staff should not indulge in any vices such as tobacco, alcohol, gutkha, mataka,
lottery or any other vices.
5. Staff should treat the other staff members of the organization and the members as
brother and sister.

6. Staff should not have any discrimination according to gender, status or any reasons.
7. Staff should behave properly with staff / members.
8. Staff should not pass any important information about the organization to any
outsider.
9. Staff should not visit clients on their leave / holiday declared by the
company except during their regular business meetings.
10. All the staff should always be dressed formally and carry ID cards along with
them during their official work.
What type of Organization:
“Bank of India is of Public Sector Bank.”
COMMERCIAL BANK:
Commercial Banks are banking institutions that accept deposits and grant short-term
loans and advances to their customers. In addition to giving short-term loans,
commercial banks also give medium-term and long-term loan to business enterprises.
Now-a-days some of the commercial banks are also providing housing loan on a long-
term basis to individuals. There are also many other functions of commercial banks,
which are discussed later in this lesson.
TYPES OF COMMERCIAL BANK:
Commercial banks are of three types i.e.
1. Public sector banks
2. Private sector banks
3. Foreign banks
PUBLIC SECTOR BANK:
These are banks where majority stake is held by the Government of India or Reserve
Bank of India. Examples of public sector banks are: State Bank of India, Corporation
Bank, Bank of Baroda and Dena Bank, etc.
FUNCTIONS OF BANKS:
The functions of banks are classified as follows:

A) Primary functions
B) Secondary functions and
C) General utility functions.
A) Primary Functions:
a. Acceptance of Deposits and
b. Advancing Loans.
The various types of deposits accepted by banks

are as follow: -
1) Fixed Deposits.
2) Current Deposits.
3) Savings.
4) Term Deposits.
5) Recurring Deposits.
6) Children – Welfare- Deposits.
7) Pension Annuity Deposits.
8) Sickness – Benefit – Deposits.
Banks accept deposits and so advances for short-

periods against legible securities: -
1) Money at call and at Short – notice.
2) Bank Overdrafts.
3) Bank Loans.
4) Cash Credits.
5) Term Loan.
6) Discounted Bills.
7) Credit Creation.

8) Financing of Foreign Trade.
B) Secondary Functions:
1. Agency Functions.
2. Purchase and sale of securities.
3. Remittance of funds.
4. Acting as executives, trustees and attorneys.
5. Other Services.
C) General Utility Functions:
1. Issues of letter of credit.
2. Issues Traveler cheques.
3. Underwriting of securities.
4. Circulars Note.
5. Serving.
6. As Referees.
7. Dealing in Foreign Exchange.
8. Miscellaneous services.

BANK OF INDIA
COMPANY PROFILE
Type: Public Sector Bank - BSE and NSE
Industry: Banking and Financial services
Founded: 7 September, 1906; 115 years ago
Headquarters: Mumbai, Maharashtra, India
Products: Consumer banking, corporate banking, Finance and insurance,

Investment banking, Mortgage loans, Private banking, Private
equity, Savings, Securities, Asset management, Wealth
management
Slogan: “Relationship beyond banking”
Website: www.bankofindia.co.in

LOGO OF THE BANK
The logo symbolizes the bank’s promise to keep its customers’

money in a safe and protected place, as well as the promise to
perform their financial transactions in a safe way.
VISION
“To Become the Bank of Choice for Corporates, Medium Business

and Upmarket Retail Customers and Developmental Banking for
Small Business, Mass Markets and Rural Markets.”
MISSION
To provide superior, proactive banking service to niche markets

globally, while providing cost effective, responsive service to others
in our role as a development bank, and in doing so, meet the
requirements of our stakeholders.

SWOT Analysis:
Strengths in the SWOT Analysis of Bank of India:
Strong Branch Network
Strong Capital position
Increasing Profits
Weaknesses in the SWOT Analysis of Bank of India:
Decreasing asset quality
The absence of good financial products / services: Bank of India

lacks insurance, brokerage and investment-banking services.
Opportunities in the SWOT Analysis of Bank of India:
International Business
UID/Aadhar based customer base
Growth in Indian Banking Industry
Improving products and services
Threat in the SWOT Analysis of Bank of India:
Intense Competition
Burden of NPAs
Declining brand equity
WHAT TYPE OF PRODUCTS AND SERVICES OFFERED

BY AN ORGANIZATION?
Deposit Account: Savings Account, Current Account.
Loan: Star Home Loan, Star Personal Loan.
Investment: Fixed Deposit, Recurring Deposit.
Cards: Credit Card, Debit Card.
Banking: Balance Enquiry, Mobile Banking, Net Banking, Customer

Care.

ABSTRACT
Finance is the blood of the business where it is rightly to say that Banking is the
nerves of that blood. Hence role of banking sector in economy is very crucial. The
economy is developed as the development of banking sector. Hence efficient
banking sector is boosting economy development.
A project has been prepared under the title of “Study of financial product and
services of Bank of India at Purnagad Branch of Ratnagiri, India”. It is purely based
on whatever I learned at Bank of India. One can have a brief knowledge about and
all its basics through the project. Other than that, the real servings come when one
moves ahead.

Chapter 2: RESEARCH
METHODOLOGY

RESEARCH METHODOLOGY
RESEARCH METHODOLOGY:
Redman and Moray define research as a “systematic effort to gain new knowledge.”
Research can be defined as the search of knowledge or any systematic investigation

to establish fact. The primary purpose for applied research (as opposed to basic
research) is discovering, interpreting, and the developments of the methods and
systems for the advancement of human knowledge on a wide variety of scientific
manners of our world and the universe. Research can use the scientific method, but
need not do so…
The research methodology means the way in which we would complete our
prospected task. Before undertaking any task, it becomes very essential for anyone
to determine the problem of study. I have adopted the following procedure in
completing my report study.
1. Formulating the problem
2. Research design
3. Determining the data sources
4. Analyzing the data
5. Interpretation
6. Preparing research report
RESEARCH INSTRUMENT:
As a research instrument the researcher has taken guidance from the Manager of Bank
of India, Purnagad and also my faculty of college.
DATA COLLECTION:
1. Primary Data
2. Secondary Data

1. Primary Data:
The primary data is collected by direct communication with the Bank of India
Manager and employees. The communication with the Bank of India (Purnagad
Branch Ratnagiri) is used for the study. It made to understand the ideas about the
Bank of India and its product.
1) Assistant General Managers.
2) Company Secretary.
3) Manager Credit.
4) Recovery officer and clerks.
2. Secondary Data:
It includes the information collected through websites and their pamphlets and
various types Banks books. The secondary data are those, which have already
been collected through the statistical process for presenting the conceptual /
background.
1) R B I Circulars.
2) Bank’s manual of instructions and for collecting the analytical data following
sources were used.
3) Annual Reports of Banks.
4) Library Records.
5) Websites.
6) Magazines.
Bank Under the Study:
Bank of India Purnagad Branch.

OBJECTIVES
 To study and analysis of deposit product Bank of India.
 To study and analysis of loan product of Bank of India.
 To study and analysis of investment product of Bank of India.

 To study and analysis of services of Bank of India.
HYPOTHESIS
H0: The services provided by the Bank of India are not efficient.
H1: The services provided by Bank of India are efficient.
SIGNIFICANCE OF STUDY
The study is useful to the rural customers of Bank of India to know about different
financial products and services of Bank of India.
LIMITATIONS OF STUDY
 This study is limited to only Bank of India.

 I have selected only one bank for this financial product which is very small
sample size.

Chapter 3: LITERATURE
REVIEW

REVIEW OF LITERATURE
Gaganjot Singh (1998) in his study “New innovations in banking industry – a study
of new private sector banks” views that the new private sector banks in India are
using better technology and are offering better services to the customers. The new
private banks have emerged as a model to the banking industry in terms of service
levels, ambience, technology etc. As the public sector banks have already established
a huge customer base, they become complacent and are slow to become customer
friendly.
Anthony T. Allred and H. Lon Addams, (2000) in their article, indicated that
neither banks nor credit unions do a good job of surveying customer needs or
retaining customers. Other results indicate that fifty per cent of total respondents
surveyed reported that they had stopped using a financial service provider because of
poor service performance. The vast majority of that group reported that their decision
was made because a bank failed to provide adequate service.
Mini Joseph’s (2001) view is that new generation banks have created a spirit of
competition in the banking industry by fully utilizing the facilities and amenities
available from technology and computerization, and by accepting customer
satisfaction as the core aspect. For preventing the erosion in the market share of old
private sector banks and public sector banks, they are also providing quality service
now in a competitive spirit.
Singh S. (2004) empirically studies the appraisal of customer services of PSBs in

terms of level of customer service and satisfaction determined by brand, location and
design, variety of services, rates and changes, systems and procedures etc. The study
concludes that staff behavior is very polite and services are provided even in the late
hours. Study reveals that 62 percent respondents answer that immediate credit is not
given for outstation cheques, 93 percent feel that they do not hold periodical meetings
and services are not provided according to the given schedules. It concludes that
services of private sector banks are better than the services of public sector banks.
The focus of Dhandapani Alagiri’s (2007) article “Retail banking: challenges” is on

the retail banking in India with increased consumer spending and increased challenges
in the form of competition and technology up-gradation. He concludes that the most

important issues for the new generation customers are product innovation and
competitive packaging services. Retail banking increased the uses of the mobile
phones and e-banking facilities for quick service. As a result, the security and
confidentiality have become very difficult to maintain. This has become a major
problem for the banks in India. Another result of the study is that credit delivery
mechanism has been improved considerably with the advent of technological
advances.
Kumar. N. and Rama (2008) analyzed that retail banking is the innovation of 21st
century. India has experienced a rapid growth in retail banking. Retail banking is a
banking service that is geared primarily towards individual customers. It focuses
strictly on consumer markets. Retail banking is a mass-market banking where
individual customers use local branches of larger commercial banks. The services
offered by retail banking includes saving and checking accounts, mortgages, personal
loans, debit cards, credit cards etc. its take care of the diverse banking products and
services to individuals’ customers. It provides banking products and services to
individuals. Retail banking contains features like multiple products, channels and
customer groups. Most of the Indian banks have been retail banks in their business
composition. Retail banking in India is growing and the same expected in future.
Adelowo Solomon Adepoju, Mohammed Enagi Alhassan, (2010) says that over
time, consumers have come to depend on and trust the Automatic Teller Machine
(ATM) to conveniently meet their banking needs
Revathy (2012) in her article views that retail banking has greater scope of generating
profit than the traditional banking. Banks have identified this and are adopting a
different approach in designing the retail banking products and services to hold the
market share.
Gokilamani and Natarajan (2014) in their study opined that customer of Indian
commercial banks are positively responding to retail banking. It is important for
banks to focus on service quality for strengthening their competitive edge and to
allocate the limited resources to serve the personal banking division. They further
view that the success of a retail bank will depend on product innovation, technological
developments and strategies to retain the retail customers.

Dr. Dhanabhakyam M & Kavitha M. (2012) studied that bank have to re-orient
their strategies in the light of their own strength and the kind of market in which their
likely to operate on. In the perspective of this domestic and international
development, the banking sector has to chart perfect for development.
Gupta Shipra (2012) concluded that- Public and Private sector banks both are giving
good service in India. Financial condition of any bank is measured by the help of
financial ratio. A leverage ratio cannot do the job alone it needs to be complemented
by other prudential tools or measures to ensure a comprehensive picture of the
buildup of leverage in individual banks or banking groups as well as in the financial
system.
Bell, Chiang, & Padmanabhan, 1999 Different product Types result in a different
level of sales promotion recognition. In their study, Bell et al. (1999) found that, in
the case of convenience goods, promotional products that use the same product as the
one being purchased will provide superior results. However, in the case of shopping
products, promotional products that use different products from the one being
purchased will be more effective. Moreover, it has been found that instant reward
receipt yields better results in the case of specialty products in comparison to
convenience products.
Tietje, 2002 The relationship between the kind of sales promotion and the time to
Reward receipt will be different for different kinds of products. Hence, in the present
study I examined the contingent effect of product type on the impact of sales
promotion and the time to reward receipt on customer preferences.
Chandon et al. (2000) found that monetary sales promotions more effective for those
financial products that provide utilitarian benefits, whereas nonmonetary promotions
are more effective for those financial products that provide hedonic benefits
particularly from a brand awareness aspect. The authors studied the two types of
customers benefits obtained from sales promotions: utilitarian and hedonic benefits.
Moreover, they studied two types of sales promotions: monetary and nonmonetary
sales promotions.
D’Astous and Landreville (2002) examined the customer response to different types
of sales promotions for low-involvement types of financial products. The results of

the study revealed that a direct premium in terms of an instantaneous reward results in
a more positive response than a delayed premium.
Palazon-Vidal and Delgado-Ballester (2005) suggested that sales promotions can be
used as a marketing tool to improve brand recognition in view of the fact that they
stimulate customer preferences in the product offering. In addition, the findings of the
study confirmed those monetary sales promotions were effective only in the case of
utilitarian-based products. Furthermore, nonmonetary sales promotions were found to
be effective for both utilitarian- and hedonic-based products.
Shu-ling (2006) empirically studied the impact of nonmonetary sales promotions on
customer preferences for three types of consumer products: convenience goods,
shopping goods, and specialty goods. The study findings revealed that in the case of
convenience and specialty goods, customers preferred to receive promotional products
similar to the product they were purchasing, whereas in the case of specialty goods
they preferred to receive promotional products different from the product they were
purchasing. Moreover, in the case of all three types of products, an instantaneous
reward was preferred to a delay reward.

Chapter 4: OBJECTIVES

TO STUDY AND ANALYSIS OF DEPOSIT PRODUCT OF BANK

OF INDIA
DEPOSIT ACCOUNT
Savings Account:
Bank of India offers as many as 9 different types of savings account

options to suit the varying needs of its customers. With these
accounts, one can enjoy services like internet banking, mobile
banking, rewards on credit card spends and more.
Bank of India Savings Interest Rates:
BOI Savings Account Balance Rate of Interest
Up to Rs. 1 lakh 2.90% p.a.
Above Rs. 1 lakh 2.90% p.a.
Types of BOI Savings Account:
Types of Banks of India

Primary Features
Savings Account
 Average Quarterly Balance (AQB) –

Rs.500
Star Suraksha SB Plus Account  Personal Accidental Death Insurance
Cover – Rs.50,000
 Initial Deposit & AQB – Rs. 500 (For

Cheque Book Operated Accounts)
Savings Bank Ordinary
 Unlimited ATM transactions (Only at
Account
BOI ATMs)
 AQB – Rs. 25000 (Savings Account) &

Rs. 5000 (Term Deposit)
BOI Savings Plus Scheme
 Auto Sweep Facility Available

 Auto Sweep Facility

BOI Super Saving Plus  Nomination Facility Available
 Free Issuance of International Platinum

card
Diamond Saving Bank Account
 No Initial Deposit
 Complimentary Personal Accident

Insurance
BOI Star Yuva Account
 Internet Banking available
 Exclusive Account for Women

BOI Star Mahila SB Account  Average Quarterly Balance – Rs. 5000
 Average Quarterly Balance – Rs. 10000

BOI Star Senior Citizen SB  Group Personal Accident Death
Account Insurance – Rs. 5 lakhs
 Zero Balance Savings Account

 Group Personal Accident Death
SB Account for Pensioners
Insurance – Rs. 5 lakhs
Eligibility Criteria to open a BOI Savings Account:
The following persons can open a savings account with the Bank of India:
Residents of India
Minors (under guardianship - legal/natural)
Illiterate persons can also open an account with BOI. However, they need to visit the
bank personally to provide a thumb impression that is to be attested by an approved
witness(es).

Features of BOI Savings Accounts:

1. Star Suraksha SB Plus Account
Star Suraksha SB Plus Account Features
Initial Balance Rs. 500
Average Quarterly Balance requirement Rs. 500
Interest Rate 2.90% p.a.
Personal Accidental Death Insurance

Rs. 50,000 (Premium Paid by Bank)
Cover
Individuals, except Minors, NRIs and

Eligibility Criteria
accounts under Diamond Category
2. Savings Bank Ordinary Account
Savings Bank Ordinary Account Features
Initial Balance & Average Quarterly Rs.500/- for Cheque book operated and
Balance requirement
Rs.100/- for non-cheque book accounts
Internet Banking Facility Available
Nomination Facility Available
Individual, Illiterate Persons, Blind

persons, Minors, Associations, Clubs,
Eligibility Criteria Societies, etc. Trusts,
Institutions/Agencies specifically
permitted by the RBI

3. BOI Savings Plus Scheme
BOI Savings Plus Scheme Features
Rs. 25000 in Savings Account

Minimum Balance Requirement
Rs. 5000 in Term Deposit
Auto Sweep Facility Yes
Interest Rate —
Eligibility Criteria Resident Indian
*Rate of Interest on the SB portion would be as applicable to the regular SB deposits,

while the Rate of Interest on the SDR/DBD portion will depend on the tenure for
which each deposit is placed, and at the ruling Interest Rate as on the date the
deposit is placed or renewed.
4. BOI Super Saving Plus
BOI Super Saving Plus Features
Initial Balance Rs. 20 lakhs
Average Quarterly Balance requirement Rs. 5 lakhs
Period of Deposit Less than 6 months
All those who can open Savings

Eligibility Criteria Account are eligible to open this
account


5. Diamond Saving Bank Account
Diamond Saving Bank Account Features
Initial Balance NIL
Average Quarterly Balance* Rs. 1 lakh & above
Free Issuance of International Platinum

Debit Card
card
Free Group Personal Accidental Death

Rs. 5 lakhs
Insurance Cover
*Up-gradation and down-gradation of tiered Savings Bank Account every quarter by

the system on the basis of AQB maintained in the last quarter. The system extends the
benefits automatically if accounts fall under the Diamond category and vice-versa.
6. BOI Star Yuva Account
BOI Star Yuva Account Features
Age group 21-35 years: - Rs.5,000/-in

Average Quarterly Balance Metro/Urban Branches
Requirement
Rs. 2500/- in Semi-urban/Rural
Branches
Complimentary Cover up to Rs.50,000

Personal Accident Insurance (Age group of 18-21 years)
Rs. 5 lakh cover (After 21 years)

7. BOI Star Mahila SB Account
BOI Star Mahila Account Features
Average Quarterly Balance

Rs. 5000
Requirement
Group Personal Accident Death Cover of Rs.5 lakhs (Premium paid by

Insurance Bank)
Eligibility Criteria Women (18 years of age and above)
8. BOI Star Senior Citizen SB Account
BOI Star Senior Citizen SB Account Features
Average Quarterly Balance

Rs. 10000
Requirement
Group Personal Accident Death Cover of Rs.5 lakhs (Premium paid by

Insurance Bank)
Eligibility Criteria Citizen (57 years of age and above)
9. SB Account for Pensioners
BOI SB Account for Pensioners Features
Minimum Balance Requirement Zero Balance Savings Account

Issuance of DD/Payslips Free 6 DD/ Payslips per Quarter
All Pensioners drawing pension from

Bank of India irrespective of age
Documents Required for opening a BOI Savings Account:
If you are planning to open a savings account with Bank of India, then it becomes
necessary to be aware of the BOI Savings account documentation. Listed below are
the essential documents required with your recent photographs to open a BOI Savings
account.
1. Proof of Identity (any one):
 PAN Card (Mandatory)

 Aadhaar Card (Mandatory)
 Passport
 Voter ID card
 Defence ID card
 ID cards of reputed employers
 Driving Licence
2. Proof of Address (any one):
 Aadhaar Card
 Credit Card Statement
 Salary slip
 Income/Wealth Tax Assessment Order
 Electricity Bill
 Telephone Bill
 Bank account statement
 Letter from reputed employer
 Letter from any recognized public authority

 Ration Card

BOI Salary Account Features & Benefits:
1. BOI Salary Plus Account Scheme
There are three types of salary accounts under this scheme for employees in different
sectors. These are:
For paramilitary forces
Particulars Features
Debit Card Free Platinum Debit Card
ATM Withdrawal Limit / POS Limit Rs. 50,000 / Rs. 1 lakh
RTGS / NEFT Charges Free
All employees on regular payroll of

Eligibility Criteria Para Military forces (Minimum take-
home salary Rs 10,000/- p.m.)
For government sector employees
Debit Card Free Platinum Debit Card
Eligibility Criteria Employees of Central and State

Government/ Universities/

Colleges/PSU (Minimum Take home

salary of Rs. 10,000)
For private-sector employees
Debit Card Free Global Debit Cum ATM Card
Private Sector Employees (Minimum

take-home salary of Rs. 10,000)
2. BOI Saral Salary Account Scheme
Personal Accident Death Insurance Free (Cover – Rs. 1 lakh)
 Free Gold Credit Card (Salary >

Rs. 10,000 for last 6 months)
Credit Card  Free Gold International Card
(Salary = Rs. 25,000 & above
for last 6 months)
Internet Banking / Mobile Banking Free
All employees on regular payroll of any

Eligibility Criteria institute (Central Govt. / State Govt. /
PSU / Private sector etc.)

3. Jai Jawan Salary Plus Account for Defence Personnel
Debit Card Free Platinum Debit Cum ATM Card
All permanent employees of Defence

Forces
4. Bank of India Star Gurukul SB Account
Free Gold Credit Card (Salary > Rs.

10,000 for last 6 months)
Credit Card
Free Gold International Card (Salary =
Rs. 25,000 & above for last 6 months)
Group Personal Accident Death

Rs. 5 lakhs
Insurance Cover
All Teaching and Non-Teaching staff of

Eligibility Criteria school/colleges/universities and all such
educational institutes

Current Account:
Bank of India offers 13 types of current accounts to its customers to serve their needs.
These accounts provide a host of banking benefits such as fund transfer, receive
cheques, cash, etc.

TO STUDY AND ANALYSIS OF LOAN PRODUCT OF BANK OF

INDIA
LOAN
Bank of India (BOI) Home Loan:
Bank of India (BOI) offers best housing loans at an attractive interest rate
starting at 6.50% p.a. The maximum loan amount that can be availed is Rs. 5
crores. BOI home loans can be availed for various purposes such as buying a
new house or a plot for house construction, constructing a house on an already
owned plot, renovating or extending an existing residential property.
BOI Home Loan Highlights [2021]
Interest Rate 6.50% – 8.35% p.a.
Loan Amount Up to 85% of the property value
Loan Tenure Up to 30 years
Processing Charges No Processing charges up to 31.12.2021
Types of BOI Home Loans:
B  Features: Loans
O available to
I Resident Indians,
S NRIs, PIOs as
t well as HUFs
a (Salaried and Self-
r employed) for
H buying or
o constructing a new
m house, purchasing
e a flat and
L extending or
o renovating an
a existing residential
n property. The

bank also offers

Free Personal
Accident
Insurance
(renewed at banks
discretion)
and Life Insurance
(optional) for loan
protection.
 Interest
Rate: 6.50% –
8.35% p.a.
 Loan Amount: Up
to Rs. 5 crores
B  Features: This is
O an overdraft
I account, which
S will be linked to
t SB/CD account of
a the customer. The
r balance of the
S account above a
m threshold limit is
a automatically
rt transferred to the
H Home Loan
o Overdraft Account
m in multiples of Rs.
e 5,000. (There will
L be sweep out of
o funds from SB/CD
a Accounts but there
n will be no sweep
in from loan
account). The
threshold limit to
be decided by the
customer in
advance and the
same to be above
the minimum
balance
requirement of
concerned
account. The
borrower could
also directly

deposit surplus
amount to the loan
account.
 Eligibility: This
loan is for existing
BOI customers
with average
balance of Rs.
5,000 for last one
year and new
customers who
open a new bank
account with
opening balance of
Rs. 5,000.
Present/prospectiv
e salaried
individuals whose
salary is credited
to BOI Branch and
repayments are
proposed to be
made from this
account,
irrespective of
minimum balance
& all other self-
employed persons,
Professionals like
Doctors, Lawyers,
Engineers,
Chartered
Accountants and
business man
having regular
source of income.
SB/CD Account to
be maintained
throughout the
tenure of the loan.
 Interest
Rate: 6.85%
onwards
 Min. Loan
Amount: Rs. 5
lakh (for salaried)
and Rs. 10 lakhs
(for others)
Max. Loan

Amount: As per
normal home loan
scheme
B  Features: These
O loans are for all
I existing home
S loan borrowers
t having satisfactory
a conduct of account
r for last 2 years
T (after completion
o of moratorium
p period). These
U loans are for
p meeting for
L personal or
o business
a requirements.
n  Interest
Rate: 6.75%
onwards
 Loan
Amount: Based on
the valuation of
property. The total
loan including the
outstanding in
existing Home
Loan account/s not
to exceed 75% of
the distress value
of the property.
The minimum
loan amount limit
is Rs. 2 Lakh.
However, the
customer has to
maintain Average
Quarterly Balance
(AQB) of Rs.
5,000 or above.
 Loan Tenure: Not
to exceed
repayment period
in home loan.
Maximum 12

years.
E  Features: This is a
a short-term loan
r provides clean
n loan to eligible
e persons, who bid
st for purchase of
M house/flat offered
o by Urban
n Development
e Authorities like
y CIDCO/HUDCO/
D DDA/State
e Government
p Housing
o Development
si Projects etc.
t  Interest
S Rate: 10.05% –
c 11.00% p.a.
h  Loan Amount: Up
e to Rs. 10 lakhs
m  Tenure:
e  If allotted,
the loan
can be
considered
under Star
Home
Loan
Scheme,
subject to
Bank’s
norms and
loan
amount of
EMD can
be adjusted
against
home loan
to be
sanctioned.
 In case
allottee is
not
sanctioned
a housing

loan or is
not
interested
in Bank’s
loan, the
advance
will have
to be
repaid in
12 equated
monthly
instalments
including
up to date
interest.
 If not
allotted,
the refund
amount
will be
appropriate
d towards
repayment
of loan,
and up to
date
interest. Int
erest
amount
exceeding
upfront
amount
paid, to be
paid
separately.
 Processing
Fee: One-time Rs.
500 per
application
B  Features: This
O home loan with
I overdraft facility
S saves total interest
t payable on your
a home loan. Invest
r surplus funds in
P the account to earn

r interest and
a withdraw
v whenever needed.
a  Eligible Borrower
si s:
H  Non-
o Resident
m Indians
e (NRIs)
L holding
o valid
a Indian
n Passport
S Persons of
c Indian
h Origin
e (PIOs)
m holding
e Foreign
Passport
 Should
have
steady
source of
income
 PIOs to
substantiat
e PIO
status by
current
passport
indicating
birth place
in India,
copy of
Indian
Passport
held earlier
 Should
have
parents’ or
grandparen
ts’ passport
with
details
substantiati
ng his/her
claim as
PIO or a

copy of
PIO Card
 Interest
Rate: 6.50%
onwards
 Loan Amount: Up
to Rs. 5 crores
 Features: This ho
me loan is for
high-net-worth
S individuals. The
t geographical
a location of the
r properties/
D house/flat to be
i financed includes
a metros and major
m cities only, i.e.
o Mumbai/New
n Delhi & Delhi
d NCR/Chennai/Kol
H kata/Bangalore/Ah
o medabad/Hyderab
m ad/Pune.
e  Interest
L Rate: 6.75%
o onwards
a  Loan
n Amount: Over Rs.
5 crores
 Tenure: 30 years

Bank of India Home Loan Eligibility Criteria:
Mentioned below are the eligibility criteria to avail home loan from Bank of India:
Salaried employees, Professionals, Self-employed persons. Requests are

Eligible Profiles
also considered from NRIs, PIOs, HUF, Partnership firms and corporate.
● Salaried Employees: 72 times of gross monthly salary or 6 times of

Eligible gross annual income based on I-T Returns.
Quantum of ● Self-Employed: 6 times of Gross annual income based on I-T Returns
Loan ● HUF/Proprietorship /Partnership Firm/ Company: 6 times of cash
accruals (PAT+ Depreciation) as per Balance Sheet/P&L Account
Loan Amount Up to 85% of the property value
Bank of India Home Loan Documents Required:
Following are the documents required to successfully apply for Bank of India Home
Loan:
Salaried Individuals Self Employed Individuals
Duly filled in and signed

the application form with Duly filled in and signed application form with photographs
photographs
Identity, address and age

Identity, address and age proof
proof
Salary slips of last 3 ITR and financial statements, including balance sheet, profit & loss
months account, schedules. (Documents must be certified by a CA)
Bank statement of the past

Bank statement of the past 12 months
6 months
Form-16 and Income Tax For partnership firms: Latest partnership deed
Returns (ITR) details For companies: Latest Memorandum and Articles of Association
(CA certificate on profit sharing ratio/list of directors/shareholding
partnership)

For limited liability partnership: LLP Agreement
Title documents of the

Title document of the property along with business address proof
property
Bank of India Home Loan Processing Fee and Other Charges:
Particulars Charges/Fee
For Individuals: 0.25% of the loan amount; subject to a minimum of Rs.

1,500 and a maximum of Rs. 20,000
Processing Fee
For Partnership Firms and Corporates: 0.50% of the loan amount; subject
to a minimum of Rs. 3,000 and a maximum of Rs. 40,000
Prepayment
Nil
Charges
Bank of India Personal Loan:
Bank of India offers personal loans @ 10.35% p.a. onwards for loan amounts
of up to Rs 20 lakh. It also offers loan for pensioners @ 9.35% p.a. and
customized personal loan for doctors @ 9.85% p.a.
Bank of India Personal Loan Highlights [2021]
 For general public- 10.35% p.a. onwards

Interest rate  For pensioners- 9.35% p.a.
 For doctors- 9.85% p.a.
 Up to Rs. 20 lakhs
Loan Amount
 Unsecured loan- Up to 3 years

Loan Tenure  Secured loan- Up to 5 years

Processing  One time 2% of loan amount Rs 1,000-10,000

Fees
Bank of India Personal Loan Interest Rates
The following are the interest rates of various types of personal loans offered by Bank
of India:
Fully Secured 11.35% p.a.
Clean/Unsecured 12.35% p.a.
Financing secured under tie-up arrangements 10.35% p.a.
For senior citizens above 60 years of age and above loan of Rs

11.35% p.a.
50,000
For Pensioners 9.35% p.a.
Bank of India Personal Loan Fees and Charges
Type Charges
 Processing Fees: One time 2% of loan amount

Star Personal  Rs 1,000- 10,000
Loan  For senior citizens- NIL

Star Pensioner  Rs 500- 2,000
Loan Scheme  For senior citizens- NIL
 Processing Fees: 50% concession in charges as applicable to

Star Personal
members of public from personal loan
Doctor Loan
Covid-19  Processing Fees: NIL

Personal Loan

Types of Bank of India Personal Loans

1. BOI Star Personal Loan
 Purpose: To fulfill all the personal financial requirements of the applicants like
marriage, education, medical, etc.
 Interest Rates: 10.35% p.a. onwards
 Loan Amount: Up to Rs 20 lakh
 Tenure: Unsecured loan- Up to 3 years

Secured loan- Up to 5 years
2. BOI Star Pensioner Loan
 Purpose: To fulfill the personal financial needs of the pensioners/family

pensioners
 Interest Rates: 9.35% p.a.
 Loan Amount:
Where PPO is held with Nagpur Government Business Branch/DPDO- Up to Rs 10

lakh
Pension directly received from branch from treasury- Up to Rs 5 lakh
Family pensioners getting pension through treasury/DPDO- Up to Rs 3 lakh
Note: For pensioners opting for secured personal loan, loan amount is up to 20
months of net pension*
For pensioners opting for unsecured loan, loan amount is up to 15 months of net
pension*
*Net pension= gross income – income tax & EMI of other loans

*Net take home pension- at least 40% of the pension amount (after deduction of loan
installment)
3. BOI Star Personal Loan- Doctor Plus
 Purpose: Any approved purposes for registered medical practitioners, other

than gold purchase, investment in shares, and for speculative purposes
 Interest Rates: Fully secured- 8.85% p.a.
Clean/Unsecured- 9.85% p.a.
 Loan Amount: Up to Rs 20 lakh
 Tenure: Up to 68 years of age; closure of loan before 75 years of age
 Processing charges: 50% concession in charges as applicable to members of
public for personal loan
4. BOI Covid-19 Personal Loan
 Interest Rates: RBLR floating with monthly rest
 Loan Amount:
Salaried- Up to Rs 5 lakh (3 times of last drawn gross salary)
Existing personal loan applicants-
Salaried: Up to Rs 5 lakh (3 times of last drawn gross salary)
Self -employed: Up to Rs 5 lakh (3 times of monthly income based on latest ITR)
 Tenure: Up to 3 years
 Processing Fees: NIL
5. BOI Covid-19 Pensioner Loan
 Interest Rates: RBLR floating with monthly rests

 Loan Amount: Pensioner- Up to Rs 2 lakh

Family Pensioner- Up to Rs 0.75 lakh
Pensioner getting pension through treasury/DPDO- Up to Rs 1 lakh
 Tenure: Up to 3 years
 Processing Fees: NIL
Eligibility Criteria for Personal Loan

BOI Star Personal Loan
 Salaried permanent employees,

 Professionals and individuals having high net worth
 Staff members
 Retired Bank of India employees
 Regular pensioners/family pensioners drawing pension from Bank of India
For Pensioners
 Retired employees
 Regular pensioners/family pensioners drawing pension from Bank of India
For Doctors
 Medical practitioners who are qualified and registered for at least 3 years in
any medical science branch recognized by DCI/MCI/regulatory
authorities/statutory authorities for practicing in India
 The applicant should be at least 25 years old
 The loan repayment should be done by 75 years of age
Covid-19 Personal Loan
 Applicants drawing salary from Bank of India

 Applicants with existing standard personal loan accounts
Covid-19 Pensioner Loan
 Family pensioners
 Regular pensioners

 Pensioners/family pensioners drawing pension through DPDO/treasury

 Retired employees of Bank of India getting pension from the bank
Bank of India Business Loan:
Bank of India is one of the leading commercial banks that has expanded its presence
substantially in the last few years, nationally as well as internationally. Bank of India
provides a range of banking and financial products to its customers, that includes
various types of MSME loans to individuals, proprietors, firms and companies.
Types of MSME Loans from Bank of India – 2021
Star Laghu Star SME

Loan Types / Star SME
Udyami Contractor
Categories Liquid Plus
Samekat Loan Credit Line
Min. Loan
Rs. 5 lakhs Rs. 10 lakhs Rs. 10 lakhs
Amount
Max. Loan
Rs. 1 crore Rs. 5 crores Rs. 5 crores
Amount
As per applicant’s As per applicant’s

Interest Rate 10.20% onwards
profile profile
Repayment Max. up to 5 Max. up to 7 As per loan

period years years amount
Note: The mentioned interest rates, fees and charges are subject to change and
depend on the sole discretion of the bank and RBI. GST and service tax shall be
levied extra on the mentioned charges
The enterprises/business owners who wish to get financial assistance from Bank of
India can apply for its business loans. These loans can be utilized for business
expansion purposes and meeting working capital requirements. Depending on the type
of loan, various documents need to be furnished with the bank for assessment of the
business and eligibility criteria. After verification of documents, Bank of India may
sanction business loans to applicants.

Loan Schemes from Bank of India
Below mentioned are the key loan products offered by Bank of India:
1. Star Laghu Udyami Samekat Loan
The Star Laghu Udyami Samekat Loan is offered to Micro and Small Enterprises, for
a maximum repayment period of 5 years, with a moratorium of 3-6 months. The loan
is a Composite Loan in the form of Demand/ Term Loan, given for investment and
working capital requirements of the small businesses.
Quantum of Loan:
Rural Area: Maximum Amount – Rs. 5 lakhs
Semi-urban Area: Maximum Amount – Rs. 10 lakhs
Urban Area: Maximum Amount – Rs. 5 lakhs
Metro Area: Maximum Amount – Rs. 1 crore
Rate of Interest:
Upto Rs. 50,000: 10.20% onwards
From Rs. 50,000 to Rs. 5 lakhs: 11.20% onwards
From Rs. 5 lakhs to Rs. 10 lakhs: 12.20% onwards
From Rs. 10 lakhs to Rs. 1 crore: 12.95% onwards
Documents Required:
 KYC documents
 Deed of Hypothecation CH1/ CH2
 Demand Promissory Note
 Installment letter
 Equitable Mortgage as Primary Security

 Other documents required for demand loans
2. Star SME Liquid Plus
Star SME Liquid Plus loan is a term loan, given to proprietorship / partnership firm
which qualifies to be a SME. The firms need to be doing business for at least 3 years
and should be making profit for last 2 years to apply for this loan. The businesses
must have entry level credit rating of SBS 5. The loan needs to be repaid through 84
installments, within 7 years with a moratorium of up to 12 months.
Quantum of Loan: Minimum Rs. 10 lakh and Maximum Rs. 5 crores
Rate of Interest: Depends on the prevailing structure of the bank
Documents Required:
 Identity and residence proof along with borrower’s photograph

 Balance sheet/ Profit & Loss statement of last 3 years
 Partnership letter if the applicant is a partnership firm
 MoA and AoA of the company
 Certificate of Incorporation and Commencement of Business
 Copy of Board Resolution for availing loan, if the applicant is a limited
company
 Deed of Guarantee No. OD – 194 (if applicable)
 Term Loan Agreement cum Hypothecation Agreement No. IFD – 1 / IFD – 10
/ L – 516 (Whichever applicable)
3. Star SME Contractor Credit Line
The Star SME Contractor Credit Line loan is a line of credit given for meeting the
working capital needs of civil contractors, mining contractors, engineering
contractors, transport contractors, etc. This line of credit is offered to established
proprietorship firms, partnership firms, limited companies, etc. The applicant
company must be engaged in doing business for the last 3 years and should have the
entry level credit rating of SBS 5.

Quantum of Loan: Minimum Rs. 10 lakh and Maximum Rs. 5 crores
Rate of Interest: Depends on the applicant’s profile and loan amount
Documents Required:
 Identity and residence proof along with the borrower’s photograph

 Balance sheet/ Profit & Loss statement of last 3 years
 Partnership letter, if the applicant is a partnership firm
 Certificate of Incorporation and Commencement of Business
 Copy of Board Resolution for availing loan if the applicant is a limited
company
 P Note LG – 12 Application for Documentary Credit
 Bearer letter LG – 13
 L – 516; LG – 15 Counter Guarantee
 For Fund based; For BG; For LC: IFD – 10
 OD – 194 (if applicable)
BOI MSME Schemes
Apart from these loans, the Bank of India also offers different loans for specific
purposes that are as follows:
 SME Auto Express: To SMEs run by individuals/ companies/ societies/ trusts/

firms for purchasing new vehicles
 Star SME Education Plus: To Educational institutions for construction/ repair
of the infrastructure and purchase of equipment/ fixtures
 BOI Star Doctor Plus: To qualified individuals, as well as healthcare firms/
companies/ trusts with 51% shareholding of qualified practitioners
 Star Start-up Scheme: To the eligible start-ups for funding innovation/
development/ deployment/ commercialization of new product/ process/
services
 Star MSME E-Rickshaw Finance: To the transport operator individuals/ firms
for purchase of new e-rickshaws and battery replacement

Additional MSME Schemes
 (TReDS) Trade Receivables E-Discounting System

 BOI Star Doctors Plus
 BOI Star Vyapar
 CLCS-TU Scheme
 Loan for Small Road & Transport Operators (SRTOs)
 Pradhan Mantri Credit Scheme
 STAR Asset Baked Loan (BSABL)
 STAR Channel Credit
 Star Laghu Udyami Samekat Loan
 Star MSME E-Rickshaw
 Star MSME GST Plus Scheme
 Star SME Auto Express
 Star SME Contractor line of Credit
 Star SME Education Plus
 Star SME Liquid Plus
 Star Start-Up Scheme
 Star Weaver MUDRA Scheme
 Technology Upgradation Fund Scheme
Bank of India also offers loans under various Government sponsored schemes, such
as PMMY, Stand up India, PMEGP, Pradhan Mantri Credit Scheme, Weavers Mudra
Scheme, Cluster Financing, etc.
Bank of India Car Loan:
Owning a car used to be a luxury statement as well as a dream rather than a reality for
people in the earlier times. However, today it is more of a necessity of life as it
provides a reliable means of transport for one’s family. Due to the high cost of living,
several people, whose salaries or incomes are not sufficient to buy a car outright, they
have to wait for their savings to grow larger so that they can still live their dreams of
owning a car no matter if it’s a pre-owned car or a new one. Bank of India offers the
Bank of India Star Vehicle Loan Scheme for such individuals.

The Bank of India Star Vehicle Loan Scheme is offered to individuals to purchase
two/four-wheeler vehicles (not requiring heavy duty license), as well as for purchase
of used/second hand 2 and 4-wheeler (age of the vehicle not to exceed 3 years). This
car loan can also be availed for the purpose of reimbursement of cost of four-wheeler
purchased from own sources.
Bank of India Education Loan:
Bank of India has been slowly and steadily growing its loans portfolio and has
focused on the education loan sector as well. There are reasons for this. As education
costs in India is rising tremendously. As the pressure of bearing this hike in prices
falls on the family and student, Bank of India helps students to pursue their chosen
educational path with a financial aid. The student loan scheme of the bank is a one-
stop solution to all problems. It has become more popular in recent times. The scheme
for education loans covers all costs associated with higher studies and other expenses
incurred by educational institutions.
Bank of India currently offers two types of Education Loans to students to pursue
higher studies whether pursued in India or pursued abroad. The first type of loan
offered s for higher studies and the second types of loan offered is designed
exclusively for students pursuing higher studies from premier institutes.
Bank of India Loan Against Property:

Loan against property, also known as LAP, is a loan which helps an individual to get
a loan amount against his assets. LAP provides loan against one’s property. It is a
perfect way to unlock the value of one’s property and realize one’s dreams.

TO STUDY AND ANALYSIS OF INVESTMENT PRODUCT OF

BANK OF INDIA
INVESTMENT
Fixed Deposit:
BOI offers fixed deposit schemes to its customers so that they can deposit their money
and enjoy good interest rates on their investments.
Recurring Deposit:
BOI recurring deposit can be opened in the names of individual, blind persons, minors
and illiterate persons with the tenure of 10 years.
Bank of India is one of India’s leading public sector banks and it currently offers a
number of recurring deposit options to its customers. The following are the key
features of the Bank of India Recurring Deposit:
Bank of India Recurring Deposit
Minimum Rs. 100 per month in rural/semi urban branches

Deposit
Amount Minimum Rs. 500 per month in urban/metro branches
Equal Amounts are to be deposited each month
Minimum – 6 months
Tenure
Incremental tenure in multiples of 3 months
Maximum – 120 months (10 years)
Minimum – 6.25% per annum
Interest Rate
Maximum – 6.70% per annum
Interest Pay- Balance in RD account compounded quarterly, interest pay-out occurs at
out maturity.
Types of Bank of India Recurring Deposits:
Bank of India offers different types of recurring deposits to its customers that are
suited to their unique requirements. The following are the key features of the Bank of
India flexi recurring deposit known as the Bank of India Star Flexi Recurring Deposit
Scheme:

Bank of India Star Flexi Recurring Deposit Scheme
Minimum Rs. 100 per month in rural/semi urban branches

Deposit
Amount Minimum Rs. 500 per month in urban/metro branches
No maximum limit on BOI Star Flexi RD
Flexi Deposit Any amount in multiple of the minimum core deposit amount
Amount
No limit on the number of flexi deposits in a month
Minimum – 12 months
Tenure
Incremental tenure in multiples of 3 months
Maximum – 120 months (10 years)
Only Individuals including minors and joint holding accounts.
Eligibility
Institutions, HUFs not allowed to open/operate BOI Star Flexi RD Scheme
Maturity Maturity for both flexi and core deposits occur at the same time
Core Deposits are not allowed in advance.

Other Features
Flexi and core deposits need not be made together
Bank of India Recurring Deposit Interest Rates [2019]
The following are the Bank of India RD Rates for 2019 over various time periods:
RD Interest Rate RD Interest Rate

RD Time Period
(General Public) (Senior Citizen)
180 days to 269 days 6.25% 6.75%
270 days to less than 1

6.25% 6.75%
year
1 year to less than 2

6.65% 7.15%
years
2 years to less than 3

6.70% 7.20%
years
3 years to less than 5

6.50% 7.00%
years
5 years to less than 8 6.50% 7.00%

years
8 years to 10 years 6.35% 6.85%
Bank of India Recurring Deposit Eligibility Criteria

The following individuals and organisations/institutions are eligible for opening a
recurring deposit account with Bank of India:
 Individuals (can operate account singly or jointly)

 Minor RD account opened by guardian
The following are non-individuals who are allowed to open BOI RD account but not
the BOI Star Flexi Recurring Deposit:
 Hindu Undivided Family (HUF)

 Sole Proprietors
 Charitable organisations
 Associations/Clubs
 Joint Stock Company/Firms
 Educational Institutions
 Other non-individuals as per RBI regulations
Bank of India Recurring Deposit Application Form

A recurring deposit application can be submitted either by visiting the nearby Bank of
India branch or the official Internet banking website of BOI. You can either choose
to download the BOI RD Account Opening Form from the bank website or obtain the
paper form from your nearby Bank of India branch. Once you have
downloaded/obtained the paper form, you need to fill it out and submit it at a BOI
branch to open a BOI recurring deposit/flexi RD account.
Documents Required for Opening Bank of India RD
The following is the list of documents that are required when opening a Bank of India
recurring deposit for Indian residents:
 PAN Card copy (Applicant can submit Form 60 / Form 61 if PAN card not
available)

 2 colour passport size photos of account holder(s)

 ID and address proof copy of applicant (according KYC requirements of Bank
of India)
 Additional documents to be submitted on basis of requirements specific to
non-individual RD applicants.
BOI RD Penalties for Missed Deposits

Bank of India applies the following penalties in case deposits into recurring deposit
accounts are not made in a timely manner by the RD account holder:
 Rs. 2 for every Rs. 100 shortfall per month in case of RD tenure is greater than
5 years.
 Rs. 1.5 for every Rs. 100 shortfall per month if RD tenure is less than/up to 5
years.
This penalty is applicable only to core RD deposit and no penalty is applicable in case
of flexi deposit amounts.
Premature withdrawal Penalty for BOI RD
If a BOI RD account/flexi account is prematurely closed within 3 months of account
opening, no interest will be paid to the account holder. However, if the RD account is
closed after completion of 3 months but before the actual contracted maturity of the
account, interest is payable at a lower rate as compared to the booked rate. The
applicable interest rate in case of prematurely closed deposit is equal to the prevailing
RD rate applicable to the tenure completed at the time of premature withdrawal of the
BOI RD.
Bank of India Loan against Recurring Deposit
Depositors can avail a loan against their Bank of India RD by using the balance in
their RD account as security for the loan. Typically, the interest rate as well as tenure
in case of a BOI loan against RD varies on the basis of RD tenure, interest rate
available on the RD as well as the loan amount opted for. The exact details of a Bank
of India loan against recurring deposit can be checked by contacting the nearby BOI
branch.

TO STUDY AND ANALYSIS OF SERVICES OF BANK OF INDIA

CARDS
Bank of India Credit Card:
Bank of India offers several credit cards that can serve the needs of just about
everyone. These globally accepted credit cards also reward you for the purchases you
make. Other common features of credit cards such as 51-days free credit period, add-
on cards and EMI facility make Bank of India Credit Cards a good choice for the
users. Read on for more details.
List of Bank of India Credit Cards
Credit Card Key Feature
Only for Domestic Usage, saving

BOI India Card cardholders from fraudulent
international card usage
BOI MasterCard Platinum International

One free lounge visit per quarter
Credit Card
BOI Visa Gold International Credit International Acceptance at VISA Card

Card compatible POS Terminals and ATMs
BOI Visa Platinum International Credit Up to Rs. 50,000 can be withdrawn in a

Card day
BOI Rupay Platinum Credit Card Concierge service is provided
BOI SwaDhan Rupay Platinum Credit

Get gift vouchers as welcome benefits
Card
Bank of India Credit Cards

Features & Benefits:
BOI India Card
Top features of the credit card are:
Wide Usage- The card can be used at over 1.5 Lakh merchant establishments in India.
Cash Withdrawal- Withdraw cash anytime from 9,000+ ATMs across the country.

Free-Credit Card- Enjoy an interest-free credit period of up to 51 days.
Adjustable Limit on Add-on Cards- You can set flexible credit limits on your add-on
cards to manage the usage.
Rewards- This card gives reward points on every purchase.
Billing Cycle- The billing cycle on this card is from 16th of a month to 15th of the
next month and the bill should be paid on or before 5th of the next month.
BOI MasterCard Platinum International Credit Card
Top features of the credit card are:
Global Acceptance- This card is valid in India, Nepal and all foreign countries at
Mastercard enabled POS terminals.
Domestic Cash Withdrawal- ATM withdrawal on magnetic stripe can be made only in
India. Maximum cash withdrawal amount is set at Rs. 50,000 per day.
Cash Limit- 50% of the credit limit can be availed as cash limit on the card.
Secure Transaction- Chip and PIN technology ensures that the transactions are secure.
Lounge Access- One complimentary lounge visit can be availed at a domestic airport
under the MasterCard Lounge Access Program.
Billing Cycle- The billing cycle is from the 1st of the month to the last date of the
month and the bill should be paid on or before 21st of the next month.
BOI Visa Gold International Credit Card

This is a regular credit card by Bank of India and comes with all features associated
with a Visa Gold Card like:
Worldwide Acceptance- The card is accepted worldwide at all Visa merchant outlets.
Visa Offers- Enjoy retail, dining and travel offers by Visa
Emergency Replacement- In case of card loss anywhere around the world, you can
avail the emergency card replacement service from Visa.

Secure Payments- The card uses PIN & Chip technology to secure Point of Sale
transactions.
Cash Withdrawal- Up to Rs. 15,000 can be withdrawn in a day using this Canara
Bank Credit Card.
BOI Visa Platinum International Credit Card
This is a chip and PIN enabled credit card powered by Visa and offers the following
benefits. The card may entail an annual fee which will be communicated at the time
of sourcing.
Global Acceptance- This card can be used in any part of the world where Visa is
accepted.
Secure Payments- The card supports Chip & Pin technology ensuring safe payments.
Cash Limit- The maximum cash withdrawal limit is 50% of the total credit limit.
Maximum cash withdrawal in a day is capped at Rs. 50,000.
Billing Cycle- 1st of the month to the last date of the month will be the billing cycle
and the bill is due of 21st of the succeeding month.
BOI RuPay Platinum Credit Card

This RuPay powered credit card is chip-enabled and comes with the following
features:
Globally Accepted- This is an internationally accepted credit card by Bank of India.
Welcome Vouchers- Exclusive gift vouchers from leading merchants is offered as

welcome benefit.
Billing Cycle- The statement date is 15th of every month and payment due date is 5th
of the next month
Concierge Service- Travel and hotel reservation assistance is offered along with other
benefits under the Concierge Service by the bank
Benefits with Partner Merchants- Users will get cash back on dining, utility bill
payment along with exclusive offers from some merchant establishments. Exclusive
offers on RuPay credit cards can also be availed by the users.

Insurance Cover- Card holders will also get insurance cover of up to Rs. 2 Lakh on
accidental death and permanent disability.
BOI SwaDhan RuPay Platinum Credit Card

This credit card is issued against Term Deposits/Fixed Deposits. Some of the features
are:
Secure Usage- This is a chip-enabled credit card ensuring secure payments. It would
also require PIN for POS transactions.
International Acceptance- This card is globally accepted at RuPay Partner merchant

establishments.
Billing Cycle- The statement date is 15th of every month and 5th of the next month
will be the payment due date.
Welcome Vouchers- Exclusive gift vouchers can be availed as welcome gift from
some of the leading merchants.
Bank of India Credit Cards for Rural Customers:
Bank of India also offers financial solutions to rural customers in many forms. Card
facilities for rural population include:
Bank of India Kisan Credit Card BOI Kisan Shatabdi Krishi Vikas Card
Kisan Samadhan Card Star Bhumiheen Kisan Card
Bank of India Kisan Credit Card

The Kisan Credit Card Scheme aims at offering financial support to farmers who are
in need of immediate funds for farming as well as non-farm activities. A credit card-
cum-passbook is offered to the customers and it needs to be produced at the time of
account operation. Collateral may be needed as per the amount withdrawn.
BOI Kisan Shatabdi Krishi Vikas Card

Farmers who have agriculture loan account with Bank of India can also get this credit
facility for farm as well as non-farm needs. A maximum of Rs. 50,000 can be

sanctioned under this scheme under which 30% will be the cash limit subject to a
maximum withdrawal of Rs. 10,000 per day.
Kisan Samadhan Card

This is a ‘line of credit’ offered to farmers through which they can meet their short-
term and long-term needs for a maximum term of 5 years with the facility of
revolving credit. Two facilities must be availed by the farmers under this scheme-
production credit and investment credit. Production credit can be used to meet the
needs of crop production or short-term requirements like equipment maintenance and
allied activities. It can also be used for domestic consumption needs. Investment
credit, on the other hand, is taken for investing in farm development or expansion or
for the purchase of new machinery. Loan for off-farm activities can also be taken.
Star Bhumiheen Kisan Card

Through this program, Bank of India provides production and consumption credit to
farmers who do not hold land of their own. This may include tenant croppers, share
croppers or lessees. Just like a Kisan Credit Card, a credit card-cum-passbook is
issued to the user which would contain important details about the borrower and has
to be produced at the time of account operation.
Bank of India Credit Card Eligibility and Documentation:

Bank of India has set certain criteria which applicants must meet in order to get
approved for their credit cards. These are mainly related to the credit score, age (18-
65 years), monthly income, location etc. Do note that the eligibility criteria for
different credit cards may vary. Also, approval or rejection is at the sole discretion of
the bank.
Documents Required
The applicants would also have to submit relevant documents which will include
identity proof, income proof and address proof. The following documents may be
accepted.
PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s

Proof of
ID, Overseas Citizen of India Card, Person of Indian Origin
Identity
Card, Job card issued by NREGA, Letters issued by the UIDAI

Aadhaar card, Driver’s License, Passport, Utility Bill not more

Proof of than 3 months’ old, Ration Card, Property Registration
Address Document, Person of Indian Origin Card, Job card issued by
NREGA, Bank Account Statement
Proof of Latest one or 2 salary slip (not more than 3 months old), Latest
Income Form 16, Last 3 months’ bank statement
Bank of India Debit Card:
Bank of India debit card can be used to pay utility bills, shopping, dining, travelling
and much more.
 Enjoy savings every time you shop using your Bank of India debit card.
 Get enhanced security with EMV chip and PIN debit cards which ensures safe
and secure transactions.
Avail higher ATM withdrawals and transaction limits.
BANKING
Bank of India Account Balance Check:

Bank of India (BOI) accountholders can check Bank of India account balance
using Mobile, Net-banking and SMS. Read ahead to know the steps to check
BOI account balance through various methods such as SMS, Net banking,
Mobile Banking, Phone Banking, ATM and Passbook.
For banking transactions such as balance check, funds transfer, bill payment, etc.,
Bank of India customers have multiple options to choose from. Here are a few
different ways in which BOI customers can perform an account balance check:
Bank Passbook: Customers who keep their bank account passbooks updated can see
their Bank of India (BOI) passbook to check their account balance. Since the
passbook keeps a record of both the debit and credit transactions, an account holder
can see his complete account statement right from the day of account opening using a
passbook. For each passbook update, the customer needs to visit the bank branch.

This method of balance enquiry has fallen out of favour since the internet-savvy
customers now want to check their account balance using more convenient options.
ATM: BOI account holders can do a Bank of India Account Balance Check by
visiting a Bank of India ATM. It is a fairly simple process. Here are the steps to
follow:
 Swipe the ATM card in the machine

 Use the 4-digit ATM PIN
 Choose the “Balance Enquiry” option
 Complete the transaction
To check their last few transactions in the account, they can carry out the same steps
and use the Mini Statement option. The ATM will print a receipt containing the
details of the last 10 account transactions.
BOI account holders can also visit non-BOI ATM or third-party ATM service to
check their account balance. Since the Reserve Bank of India (RBI) has limited the
number of free transactions per ATM card, use this service wisely if you do not want
to pay the transaction charges. If you choose this option from a non-BOI ATM, the
charges might be higher.
Ways to check Bank of India Account Balance Online-
Bank of India Net Banking
Bank of India Account holders that have registered for net banking can use their net
banking login id and password to log into the BOI website. Net banking and mobile
banking credentials are the same. The bank’s website offers a range of banking
facilities to its customers including Bank of India account balance check, account
statement, funds transfer, etc.
Bank of India mPassbook

BOI has brought forward its electronic passbook which can be used for generating
your account statements. It allows the account holders to download the statement in
PDF format in mobile. One can also send the account statement in the form of an
email to the registered email-id.
Bank of India Mobile Banking
BOI offers StarConnect mobile banking services to both its national as well as
international customers.
 Customers can use their mobile phones to receive account balance via SMS
 The three main BOI apps are BOI BTM, BOI StarToken, and BOI StarGlobal
 One of the reasons why customers must check their account balance online is
because it is convenient and free of cost
 The ATM transactions are chargeable after a certain limit and it is better to use
those transactions to carry out the cash withdrawal
Ways in which BOI account holders can check their account balance using their
mobile phones.
Mobile Banking on SMS
Bank of India gives the customers an option to check their account balance via SMS.
The customers need to avail the Star Connect Mobile Banking on SMS facility to get
their account balance via SMS. Here are the steps they need to follow:
 Visit the Bank of India website

 Click on the mobile banking link
 Choose the Star Connect Mobile Banking Link
 Log in using the net banking/mobile banking credentials
 Enter the registered mobile number
 Click on “Set/Change SMS Password”
 Set/Change the 4-digit SMS password
BOI BTM

The bank offers mobile banking facility to its customers through an amazing mobile
app, BOI BTM.
 Customers can download this app on their android, iOS, and start using it to
avail the mobile banking facilities
 After logging in using their mobile banking credentials, the customers can
avail plenty of banking services such as balance enquiry, account statement
check, funds transfer, etc.
 Bank of India customers that hold accounts in overseas branches can use the
BOI StarGlobal App for account balance check, money transfer, etc.
BOI StarToken
Bank of India account holders can also download the android app BOI StarToken to
carry out banking transactions.
 They can do funds transfer, mobile recharge, balance enquiry, check last 5
transactions, get a mini account statement, etc.
 Facilities such as NEFT, IMPS, etc. are also available through the BOI
StarToken app
Bank of India Mobile Banking:
Services offered by Bank of India Mobile Banking app
mPassbook Funds transfer IMPS
FAQ Account balance Account statement
Favourite feature Personalised offers Locate ATMs
Locate bank branch Loan details Status of cheque
Different Bank of India Mobile Apps:

Bank of India Apps Features
 Check account balance, BOI account

statement
BOI Mobile  Fund transfer using NEFT, RTGS,
IMPS
 Credit card transaction alerts, block

and unblock transactions
BOI Credit Control
 Set credit card limit, analyse spending
 Switch cards on and off, set limits

 Enable and disable specific
BOI Card Shield transactions and payments, transaction
alerts
 Make payments, add accounts, transfer

funds
BHIM BOI UPI  Link beneficiaries, check BOI account
balance
 Make utility bill payments

 Make payments for minimum, full,
BOI BillPay
partial, excess, cut off amount as well
 App for merchants to receive

BOI BHIM Aadhaar payments
 Uses Aadhar linked accounts only
Features of BOI Mobile Banking:
 Banking convenience: Bank of India provides various mobile banking

applications for several banking needs. From its BOI mobile app, which is the
official mobile banking app for Bank of India users, the bank also provides
separate apps for merchants as well. Not only this, Bank of India provides BOI
Credit Shield, BOI Credit Control, BHIM BOI UPI and BOI BHIM Aadhaar
app

 Loan Account: Use the app to check up on the outstanding amount of the One
can view and download a summary of the loan amount with details of all the
payments already made. BOI Mobile app also allows one to download the loan
interest certificate of his/her loan account
 Deposit Account: BOI mobile app has made it very easy to check on the
balance of the deposit account along with the current balance. The application
makes it very easy for users to check on a quick summary of their deposit
account. One unique feature is that one can open a new deposit account right
through the application itself
 mPassbook: BOI has taken it a step further by making it easy for all its mobile
banking customers to download their passbook. The m-passbook feature is a
digital version of a traditional passbook. One can download a copy of the
statement in a PDF format, or choose to have the statement emailed
Advantages of using BOI Mobile Banking App:
 One can carry out all the traditional bank account services directly on the
phone that otherwise one would do using the net banking feature
 Use all the banking facilities on-the-go
 Pay all the utility bills using the BOI BillPay app. No need to wait in long
lines or wait to have access to a laptop to pay online. Open the app and make
all the payments from one place
 Transfer funds have become more comfortable and quicker. Use NEFT,
RTGS, IMPS or the BHIM BOI UPI app to make payments and also request
payments
 Use the app to block the credit card or debit card directly from their apps if it
gets stolen or lost
Bank of India Net Banking:
Bank of India (BOI) has devised a user-friendly net banking system that enables its
customers to carry out financial transactions with the bank or through the bank from
the remotest areas with complete ease. Using BOI Net banking service, account
holders can avail various services including BOI balance enquiry, mini statement,
fund transfer, utility bill payment and much more.


Services Available at Bank of India Net Banking
Check Account View Account View Mini Fund Transfer within

Balance Statements Statement Bank of India
Update
Fund Transfer to Update Nomination
Aadhaar Demand Draft Request
other bank’s account & PAN details
Details
Invest in
Manage Trading ATM Card Hot Open Fixed/Recurring
Government
Account listing Deposit
Schemes
Make Utility Bill Cheque Book Status ATM PIN

Pay Taxes
Payments Inquiry Change
Online Account Avail Make Credit Card Bill

Instant Loans
Opening Insurance Payments
Features of Bank of India’s Netbanking:
 Through Bank of India netbanking, customers can benefit from all those
services that they had to avail by visiting a bank branch
 One can access data related to their mobile banking service through internet
banking portal and request the activation or deactivation of any given service
through such platform
 Customers can make payment of various bills, such as electricity bills,
telephone bills, mobile phone bills and more, through Bank of India net
banking
 Customers seeking to apply for a loan or track the status of their ongoing loans
can also make use of this online facility and stay updated about their loans
 Customer can gain access to e-filing facility of IT returns through BOI
netbanking
 Customers can view all the transactions that have been processed from a
selected account

 With BOI netbanking, customers can transfer funds and save a lot of their time
and effort which otherwise would have been gone in visiting the bank to
transfer the funds
Bank of India Customer Care:
Bank of India (BOI) has been introducing various innovative services and banking
systems for its customers. Besides offering the best banking products, it also ensures
to address well the queries and concerns of its customers. BOI’s customer care
executives ensure that customers get the best possible assistance as soon as possible.

Chapter 5: DATA ANALYSIS &

INTERPRETATION

ANALYSIS & INTERPRETATION OF FINANCIAL

STATEMENTS
BALANCE SHEET AS AT 31ST MARCH, 2020
Particulars As at As at
31.03.2020 31.03.2019
1. CAPITAL AND LIABILITIES
Capital 32776625 27600285
Reserves and Surplus 405386540 389211250
Share Application Money, Pending Allotment - 46380000
Deposits 5555049786 5208623485
Borrowings 397527659 442411678
Other Liabilities and Provisions 179217207 138001739
TOTAL 6569954817 6252228437
2. ASSETS
Cash and Balances with Reserve Bank of India 292392508 292365626
Balances with Banks and Money at call and 572170546 655749238
short notice
Investments 1585729874 1476390350
Advances 3688833041 3410059443
Fixed Assets 89819999 89200364
Other Assets 341008849 328463416
TOTAL 6569954817 6252228437
Contingent Liabilities 3523099081 3113092079
Bills for Collection 250562509 285003999
It can be computed from Balance Sheet, that the amount of Total Assets and Total
Capital and Liabilities has increased in 2020 as compared to that of 2019. Also
contingent liability has increased while amount of Bills for Collection has decreased
in 2020 as compared to that of 2019.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2020
Particulars For the year For the year

ended ended
31.03.2020 31.30.2019
1. INCOME
Interest earned 423532668 407678113
Other income 67130741 46588883
TOTAL 490663409 454266996
2. EXPENDITURE
Interest expended 270962884 271101410
Operating expenses 104514011 102243485
Provisions and Contingencies 144755376 136391105
TOTAL 520232271 509736000
3. PROFIT
Net Profit/(Loss) for the period (29568862) (55469005)
Less: Extra-ordinary Item
Add: Profit brought forward (205827390) (149623085)
TOTAL (235396252) (205092090)
4. APPROPRIATIONS
Transfer to Statutory Reserve - -
Transfer from Investment Fluctuation - -
Reserve
Transfer to Revenue Reserve - -
Transfer to Capital Reserve 2427630 735300
Transfer from Revenue & Other Reserves - -
Final Dividend (including dividend tax) - -
Special Reserve u/s Sec 36(1) (vii) of
Income
Tax Act, 1961 - -
Balance in Profit and Loss Account (237823882) (205827390)
TOTAL (235396252) (205092090)
It can be computed from Profit and Loss Account, that the amount of Total Income,
Total Expenditure has increased in 2020 as compared to that of 2019.

COMPARATIVE FINANCIAL STATEMENTS
Particulars 2019 2020 Absolute Percentage

Increase or Increase or
Decrease Decrease
Amount Amount Amount
(P) (C) (Z)= (C) - (P) (Z) / (P) * 100
1. CAPITAL AND
LIABILITIES
Capital 27600285 32776625 5176340 18.75
Reserves and Surplus 389211250 405386540 16175290 4.16
Share Application Money, 46380000 - (46380000) (100)
Pending Allotment
Deposits 5208623485 5555049786 346426301 6.65
Borrowings 442411678 397527659 (44884019) (10.15)
Other Liabilities and 138001739 179217207 41215468 29.86
Provisions
TOTAL 6252228437 6569954817
2. ASSETS
Cash and Balances with 292365626 292392508 26882 0.009
Reserve Bank of India
Balances with Banks and 655749238 572170546 (83578692) (12.75)
Money at call and short
notice
Investments 1476390350 1585729874 109339524 7.41
Advances 3410059443 3688833041 278773598 8.18
Fixed Assets 89200364 89819999 619635 0.69
Other Assets 328463416 341008849 12545433 3.82
TOTAL 6252228437 6569954817
Contingent Liabilities 3113092079 3523099081 410007002 13.17
Bills for Collection 285003999 250562509 (34441490) (12.08)
BALANCE SHEET:

PROFIT AND LOSS ACCOUNT:

Decrease Decrease
(P) (C) (Z)= (C) - (P) (Z) / (P) *
100
1. INCOME
Interest earned 407678113 423532668 15854555 3.89
Other income 46588883 67130741 20541858 44.09
TOTAL 454266996 490663409
2. EXPENDITURE
Interest expended 271101410 270962884 (138526) (0.05)
Operating expenses 102243485 104514011 2270526 2.22
Provisions and 136391105 144755376 8364271 6.13
Contingencies
TOTAL 509736000 520232271
3. PROFIT
Net Profit/(Loss) for the (55469005) (29568862) (25900143) (46.69)
period
Less: Extra-ordinary
Item
Add: Profit brought (149623085) (205827390) (56204305) (37.56)
forward
TOTAL (205092090) (235396252)
4. APPROPRIATIONS
Transfer to Statutory - -
Reserve
Transfer from Investment - -
Fluctuation Reserve
Transfer to Revenue - -
Reserve
Transfer to Capital 735300 2427630 1692330 230.16
Reserve
Transfer from Revenue - -
& Other Reserves
Final Dividend - -
(including dividend tax)
Special Reserve u/s Sec - -

36(1) (vii) of Income Tax

Act, 1961
Balance in Profit and (205827390) (237823882) (31996492) (15.55)
Loss Account
TOTAL (205092090) (235396252)
RATIO ANALYSIS 2020
Current Ratio = Current Assets

Current Liabilities
= 341008849
179217207
= 1.90
Proprietory Ratio/ = Proprietor's Fund * 100

Net Worth Ratio Total Assets
where,
Proprietor’s Fund = Share Capital + Reserves & Surplus -
Miscellaneous Expenses
Total Assets = Fixed Assets + Investments + Current Assets
Proprietory Ratio/ = 32776625 + 405386540 - NIL *100

Net Worth Ratio 89819999 + 1585729874 + 341008849
= 21.73 %
 The Current Ratio of bank for 2020 is greater than 1, BOI has current assets
1.90 times larger than current liabilities. Bank has adequate current assets to
settle its current liabilities.
 Proprietory Ratio of bank for 2020 is 21.73% which is less than 50%. It is not
efficient.

BALANCE SHEET AS AT 31ST MARCH, 2021
As at As at
Particulars
31.03.2021 31.03.2020
1. CAPITAL AND LIABILITIES
Capital 32776625 32776625
Reserves and Surplus 424079259 405386540
Share Application Money, Pending Allotment 30000000 -
Deposits 6271135601 5555049786
Borrowings 324641055 397524659
Other Liabilities and Provisions 175931916 179217207
TOTAL 7258564456 6569954817
2. ASSETS
Cash and Balances with Reserve Bank of India 606975678 292392508
Balances with Banks and Money at call and short 658831007 572170546
notice
Investments 1872528456 1585729874
Advances 3656865239 3688833041
Fixed Assets 89141309 89819999
Other Assets 374222767 341008849
TOTAL 7258564456 6569954817
Contingent Liabilities 4536348516 3523099081
Bills for Collection 249069223 250562509
It can be computed from Balance Sheet, that the amount of Total Assets and Total
Capital and Liabilities has increased in 2021 as compared to that of 2020. Also
contingent liability has increased while amount of Bills for Collection has decreased
in 2021 as compared to that of 2020.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2021
Particulars For the year For the year

ended ended
31.03.2021 31.30.2020
1. INCOME
Interest earned 405994385 423532668
Other income 74414891 67130741
TOTAL 480409276 490663409
2. EXPENDITURE
Interest expended 263296031 270962884
Operating expenses 108391063 104514011
Provisions and Contingencies 87119195 144755376
TOTAL 458806289 520232271
3. PROFIT
Net Profit/(Loss) for the period 21602987 (29568862)
Less: Extra-ordinary Item -
Add: Profit brought forward (237823882) (205827390)
TOTAL (216220895) (235396252)
4. APPROPRIATIONS
Transfer to Statutory Reserve 5410000 -
Transfer from Investment Fluctuation Reserve 6738011 -
Transfer to Capital Reserve 4954976 2427630
Transfer from Revenue & Other Reserves - -
Transfer from Share Premium (for Setoff of bought (237823882)
forward loss)
Final Dividend (including dividend tax) - -
Transfer to Special Reserve u/s Sec 36(1) (vii) of Income 4500000 -
Tax Act, 1961
Balance in Profit and Loss Account - (237823882)
TOTAL (216220895) (235396252)
It can be computed from Profit and Loss Account, that the amount of Total Income,
Total Expenditure has decreased in 2021 as compared to that of 2020.

COMPARATIVE FINANCIAL STATEMENTS
BALANCE SHEET:

Decrease Decrease
(P) (C) (Z)= (C) - (Z) / (P) * 100
(P)
1. CAPITAL AND
LIABILITIES
Capital 32776625 32776625 NIL NIL
Reserves and Surplus 405386540 424079259 18692719 4.61
Share Application Money, - 30000000 30000000 100
Pending Allotment
Deposits 5555049786 6271135601 716085815 12.89
Borrowings 397524659 324641055 (72883604) (18.34)
Other Liabilities and 179217207 175931916 (3285291) (1.83)
Provisions
TOTAL 6569954817 7258564456
2. ASSETS
Cash and Balances with 292392508 606975678 314583170 107.59
Reserve Bank of India
Balances with Banks and 572170546 658831007 86660461 15.15
Money at call and short
notice
Investments 1585729874 1872528456 286798582 18.09
Advances 3688833041 3656865239 (31967802) (0.87)
Fixed Assets 89819999 89141309 (678690) (0.76)
Other Assets 341008849 374222767 33213918 9.74
TOTAL 6569954817 7258564456
Contingent Liabilities 3523099081 4536348516 1013249435 28.76
Bills for Collection 250562509 249069223 (1493286) (0.59)

PROFIT AND LOSS ACCOUNT:

Decrease Decrease
(P) (C) (Z)= (C) - (P) (Z) / (P) *
100
1. INCOME
Interest earned 423532668 405994385 (17538283) (4.14)
Other income 67130741 74414891 7284150 10.85
TOTAL 490663409 480409276
2. EXPENDITURE
Interest expended 270962884 263296031 (7666853) (2.83)
Operating expenses 104514011 108391063 3877052 3.71
Provisions and Contingencies 144755376 87119195 (57636181) (39.82)
TOTAL 520232271 458806289
3. PROFIT
Net Profit/(Loss) for the (29568862) 21602987 51171849 173.06
period
Less: Extra-ordinary Item -
Add: Profit brought forward (205827390) (237823882) (31996492) (15.55)
TOTAL (235396252) (216220895)
4. APPROPRIATIONS
Transfer to Statutory Reserve - 5410000 5410000 100
Transfer from Investment - 6738011 6738011 100
Fluctuation Reserve
Transfer to Capital Reserve 2427630 4954976 2527346 104.11
Transfer from Revenue & - -
Other Reserves
Transfer from Share Premium (237823882) (237823882) (100)
(for Setoff of bought forward
loss)
Final Dividend (including - -
dividend tax)
Special Reserve u/s Sec 36(1) 4500000 4500000 100
(vii) of Income Tax Act, 1961
Balance in Profit and Loss (237823882) -
Account
TOTAL (235396252) (216220895)
RATIO ANALYSIS 2021

Current Ratio = Current Assets

Current Liabilities
= 374222767
175931916
= 2.13
Proprietory Ratio/ = Proprietor's Fund * 100

Net Worth Ratio Total Assets
where,
Proprietor’s Fund = Share Capital + Reserves & Surplus -
Miscellaneous Expenses
Total Assets = Fixed Assets + Investments + Current Assets
Proprietory Ratio/ = 32776625 + 424079259 - NIL *100

Net Worth Ratio 89141309 + 1872528456 + 374222767
= 19.56 %
 The Current Ratio of bank for 2021 is greater than 1, BOI has current assets
2.13 times larger than current liabilities. Bank has adequate current assets to
settle its current liabilities.
 Proprietory Ratio of bank for 2021 is 19.56% which is less than 50%. It is not
efficient.

Chapter 6: FINDINGS &

CONCLUSION

FINDINGS
 The interest rates for BOI Savings Account are high as compared to public
sector bank (SBI) while less as compared to private sector bank (Saraswat
Bank).
 The interest rates for BOI Home Loan are in between the same range as
compared to public sector bank (SBI) and private sector bank (Saraswat
Bank).
 The interest rates for BOI Personal Loan are high as compared to public sector
bank (SBI) while less as compared to private sector bank (Saraswat Bank).
 The interest rates for BOI Business Loan are low as compared to public sector
bank (SBI) and private sector bank (Saraswat Bank).
 The interest rates for BOI Fixed Deposits are same as compared to public
sector bank (SBI) while high as compared to private sector bank (Saraswat
Bank).
 The interest rates for BOI Recurring Deposits are high as compared to public
sector bank (SBI) while less as compared to private sector bank (Saraswat
Bank).
 The services provided by the Bank of India are efficient.
RECOMMENDATION
 Bank should pay more attention on giving updates and should increase level
of service providing because the competition of Bank of India is better in this
area.
CONCLUSION
 In this case I found that the bond of the Bank of India with their customers is
very strong because Bank of India mainly focus on retaining their customers.
 The bank has good relations with its customers. The customers are very
satisfied with the relationship service provided by Bank of India.

 The customers of Bank of India are satisfied with their saving accounts.
 Bank of India has good number of branches as well ATM services.
 Very few customers use Mobile Banking or Net Banking.
REFERENCES
Bibliography:
1. Bank of India, Annual report 2019-20
2. Bank of India, Annual report 2020-21
3. Chopde L. N. CA Thakkar Parag. Wadhwa Suraj. Lalit Kokku Umadevi.

Mishra Sweta. Parab Bhawana. Jha Sanjay Kumar. Mishra Manoj. Pandya
Rahul. – Accounting for Managerial Decision (S.Y.B.M.S) – Sheth
Publication – Comparative Statements. Ratio Analysis & Interpretation.
Webliography:
1. www.bankofIndia.co.in
Search for: BOI history.
Information about BOI.
2. www.rbi.org.in//home.aspx
Search for: Rule and Regulations
of Banking Sector.
3. www.paisabazaar.com
Search for: Deposit Products. Loan
Products. Investment Products.
Services of BOI.
4. www.iibf.org.in

Search for: Banking Sector

Information.

ANNEXURE
QUESTIONNAIRE FOR MANAGER
1. Which category of Deposit Products do you offer?
2. Which category of Loan Products do you offer?
3. Which category of Investment Products do you offer?
4. Which category of Services are provided by bank?
5. What is the territory for your Purnagad Branch?
6. Which customers does the bank focus on?
7. Which products are most sold in Rural Area?

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STUDY OF VARIOUS FINANCIAL

PRODUCT AND SERVICES

BACHELOR OF MANAGEMENT STUDIES

R.P GOGATE COLLEGE OF ARTS AND SCIENCE AND

This is to certify that BHATKAR SHREYAS UDAYRAJ has worked

Project Guide/Internal Examiner: -

I, the undersigned BHATKAR SHREYAS UDAYRAJ hereby, declare

Name and Signature of the Guiding Teacher

Name and Signature of the Learner

It is difficult to list the number of people who have helped me because

Chapter No. Title Page

6. Findings and 1. Findings based on Objectives &

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 1

Financial Product and Services in India:

Bank of India was founded on 7th September, 1906 by a group of eminent

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 2

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 3

What type of Organization:

“Bank of India is of Public Sector Bank.”

TYPES OF COMMERCIAL BANK:

Commercial banks are of three types i.e.

1. Public sector banks

2. Private sector banks

PUBLIC SECTOR BANK:

The functions of banks are classified as follows:

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 4

B) Secondary functions and

C) General utility functions.

a. Acceptance of Deposits and

The various types of deposits accepted by banks

6) Children – Welfare- Deposits.

7) Pension Annuity Deposits.

8) Sickness – Benefit – Deposits.

Banks accept deposits and so advances for short-

1) Money at call and at Short – notice.

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 5

8) Financing of Foreign Trade.

2. Purchase and sale of securities.

4. Acting as executives, trustees and attorneys.

C) General Utility Functions:

1. Issues of letter of credit.

2. Issues Traveler cheques.

7. Dealing in Foreign Exchange.

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 6

Type: Public Sector Bank - BSE and NSE

Industry: Banking and Financial services

Founded: 7 September, 1906; 115 years ago

Headquarters: Mumbai, Maharashtra, India

Products: Consumer banking, corporate banking, Finance and insurance,

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 7

LOGO OF THE BANK

The logo symbolizes the bank’s promise to keep its customers’

“To Become the Bank of Choice for Corporates, Medium Business

To provide superior, proactive banking service to niche markets

R.E. SOCIETY’S GOGATE JOGLEKAR COLLEGE, RATNAGIRI P a g e | 8

Strengths in the SWOT Analysis of Bank of India:

Strong Branch Network

Strong Capital position

Weaknesses in the SWOT Analysis of Bank of India:

Decreasing asset quality

The absence of good financial products / services: Bank of India

Opportunities in the SWOT Analysis of Bank of India: