how to open a Bank Of India (BOI) Demat account online and offline ?


 

how to open a Bank Of India (BOI) Demat account is one of the most asked questions. In this article, I explain to you how to open a Demat account in the Bank Of India (BOI) in an easy way through this article. In this article you can walk through the Benefits of opening a Demat account in the Bank Of India (BOI), the Documents required for opening a Demat account, how to open a Demat account, and how to open a Demat account in the Bank Of India (BOI).

Bank of India (BOI) is an Indian public sector bank situated in Mumbai’s Bandra Kurla Complex. Bank of India (BOI) was founded in the year 1906 and has been held by the government since its nationalization in 1969. Bank of India (BOI) is a founding member of the Society For Worldwide Inter-Bank Financial Telecommunication (SWIFT), which enables the delivery of cost-effective financial processing and communication services.

Bank Of India (BOI) Demat account

Before we begin, let’s understand what a Demat account is. in a demat account demate stands for Dematerialization. it works as a digital vault for stock investments. instead of dealing with physical paper or certificates your shares are stored electronically in your inmate account. The main goal of a demat account is to ensure the safety of your shares.to buy or sell shares in the stock market you must require a demate account without a demate account you can’t trade.

What are the Benefits of opening a Bank Of India (BOI) Demat account

  • In the Bank Of India (BOI) There are No Account Opening charges/No custody fee
  • Bank Of India (BOI) gives you the option of using CDSL (Central Depository Services Limited) or NSDL (National Securities Depository Limited).
  • Bonuses, dividends, and other corporate incentives are automatically credited to your Bank Of India (BOI) Demat account.
  • You can hold various securities, such as mutual funds, Stocks, IPOs, and Bonds.
  • Customer who opens a 3-in-1 account can buy and sell their shares through internet banking.

What are the charges on the Bank Of India (BOI) Demat account?

Customers can be asked to pay the Demat account opening fee when they create a new account with the Bank Of India (BOI). The annual maintenance charge is a cost levied by the broker to maintain the Demat account. Here’s a chart of Bank Of India’s Demat and trading account charges:

ServicesCharges
Account Opening ChargesNIL
Demat AMC (Annual Maintenance Charges)Rs.350 per Annum
Trading AMC (Annual Maintenance Charges)Free
DepositoryCDSL & NSDL

What are the Documents Required for Opening a Bank Of India (BOI) Demat account

  • Identity proof (Driving license/ Aadhar card/ Passport)
  • Residence proof
  • PAN Card
  • Income proof (Bank Account Statement)
  • Photocopy of Income Tax Return
  • Bank Account Passbook first Page Photocopy
  • 2 Passport size Photo

How to open a Bank Of India (BOI) Demat account online

Step 1: Visit Bank Of India’s official website at “https://bankofindia.co.in/“

Step 2: Login using your User ID and Password.

Step 3: Find and click on the “Demat Services” section.

Step 4: It redirects to the next page where you have to fill out the application form.

Step 5: Fill out all the required details and attach all the documents listed above in respective blocks.

Step 6: Click on the “Submit” button to Submit the application form.

How to open a Bank Of India (BOI) Demat account offline

Step 1: Go to the nearest Bank Of India’s branch

Step 2: Take one form for opening a demat account.

Step 3: Fill out the form with all the required details.

Step 4: Attach all the required documents which are listed above.

Step 5: At last Submit this form to officials.

Conclusion:

In conclusion, creating a Bank of India (BOI) Demat account has several advantages, including no account opening fees, simple interaction with trading platforms, and efficient securities management. However, the process is easy, with only a few documents required, assuring investors’ convenience.

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