BOI student accounts can be opened for students who are below 18 years of age. Bank of India allows students to open an account under the Bank of India ‘Pratham’ savings account scheme. The students do not need to maintain a minimum balance since this is a zero-balance account. There are a lot of services available with this savings account like free ATM cum Debit card, internet banking, free demand draft etc.
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BOI Student Account: Key Highlights
BOI student account comes with a lot of perks and benefits for the students. You can get free debit cards, chequebook services, free ATM transactions, online banking, UPI etc. All these services are similar to a usual Band of India savings account. Check the major highlights of the BOI student account below:
| BOI Student Account | Major Highlights |
| Name of the Account | Pratham Savings Account |
| Minimum Balance | NA |
| Eligibility | Indian citizens below 18 years of age |
| Chequebook | First 25 Free Cheque Leaves |
| Concession in Processing Fee for Education Loan | 100% Concession in processing charges of Education Loans |
Also Read: Check here all about Bank of India loan repayment plan
Benefits of BOI Student Account
The Bank of India (BOI) Student Account offers several advantages to meet the needs of students. One of the major benefits of BOI Student Accounts is that it has low or zero minimum balance requirements which make them accessible for students who may have limited funds. Check some of the major benefits below:
- Students receive a debit card, which enables them to withdraw cash, make online purchases, and pay for essentials, both in India and abroad if it’s an international card.
- BOI offers internet banking and a mobile app so that students can monitor their finances, transfer funds, and pay fees or bills.
- As a BOI student account holder, students may find it easier to access BOI education loans with faster processing times and zero processing fees.
- Students have access to fixed deposit schemes and savings plans which can also help in getting a BOI Student credit card.
Eligibility Criteria for Bank of India Student Account
The eligibility criteria for a BOI student account are very simple. Any Indian citizen who is less than 18 years of age can apply for a student bank account. If you have an existing minor account in the Bank of India and you take an education loan, the bank will not charge any processing charge.
Documents Required
The bank usually requires KYC documents for a student account. Check the list of documents below:
- Aadhaar Card
- PAN Card
- School or College ID card
- Passport-sized photo
- ID card of parent or guarantor
How to Open a BOI Student Account?
Bank of India student accounts can be opened through both online and offline processes. You need to visit the bank and submit a duly filled account opening form with your photo attached to it. Check the steps to apply through the offline method below:
- Visit the nearest branch of the Bank of India
- Get an account opening form and fill it out properly
- Paste a passport-size photograph
- Submit the form along with the documents required
- The bank will verify the documents and open an account
- Paste a photograph on the passbook issued by the bank
BOI is one of the best banks in India to open student accounts and education loans. Go through all the features of the account before opening.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
The BOI Pratham Savings Account is a student-friendly account designed for Indian citizens below 18 years old.
BOI Student Account holders enjoy perks like free debit cards, chequebooks, internet banking, and UPI services. Students also benefit from a 100% concession in education loan processing fees.
Indian citizens under 18 years old are eligible for the BOI Student Account.
Students need to submit KYC documents i.e. an Aadhaar Card, PAN Card, school or college ID, passport-sized photo, and the ID card of a parent or guarantor if required.
The BOI Student Account can be opened online or by visiting a branch. For the offline process, visit your nearest BOI branch, fill out an application form, attach a passport-size photo, and submit the required documents.
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