Bank of India – Kenya


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  • Established: October 1953

    Mission Statement
    “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 so doing meet the requirements of our stakeholders.”

    Our Vision

    “To become the bank of choice for corporates, medium businesses and up market retail customers and developmental banking for small business, mass market and rural markets.”

    Kenya was the Prestige and dream destination towards international journey of BOI.
    It was in October 1953  we have opened our first branch in Kenya in the Coastal town of Mombasa.  In the greencity of Nairobi, the bank opened its branch on 18th March, 1954. The branch which is situated in a heritage building, once being the National Assembly of Kenya, has now been fully renovated to provide better ambiance and service to our valued customers.  The office of the chief executive is also situated  in the Nairobi branch,which was officially opened on 19th feb,1965 by first president of republic of Kenya His Excellency Honourable Mzee Jomo Kenyatta , indeed it is great honour itself for Bank of India.

    Services

    ATM Facility
    All our Individual Savings and Current account holders can avail ATM facilities at any Pesa Point ATM Outlets countrywide.

    Safe Deposit Vault
    We have lockers at all the branches in Kenya. The lockers are of various sizes and are available now.

    • The rent is payable yearly.
    • You can operate the locker as many times as you wish.

    Please contact respective Branch Managers to avail the facility.

    FCNR Accounts
    If you are an Expatriate / Non Resident Indian, you may open your deposit account in our designated branches in India. These accounts could be in US Dollars or other major world currencies like GBP, EURO or Japanese Yen. The deposit receipts are issued for a maximum period of 7 years.

    NRE Accounts
    You can also open NRE accounts in Indian Rupees. These accounts may be opened in the form of Savings Bank , Current Deposit, Fixed Deposit , Double Benefit deposit , Monthly Income Certificate and Quarterly Income Certificate. The deposit receipts are issued for a maximum period of 7 years. Some of our designated centers also offering Internet Banking Services.

    Requirements for opening FCNR/NRE Accounts

    • Original Passport
    • Proof of residence
    • Three passport size colour photographs
    • Duly completed account opening form
      (Click here to download account opening form)

    We also help you open accounts with our UK Branches and also Jersey Branch. Please contact our branch Personnel for further details.

    Kenya Revenue Authorities i-Tax Payment

    Customers can now conveniently pay taxes, directly into Kenya Revenue Authority’s Account, at Bank of India, following KRA’s approval of Bank of India as a tax collection agent through the revamped Integrated Tax management System (iTax). This service is available across all branches of Bank of India in Kenya through cash payments and internal transfers from customer’s account. Upon payment, you will obtain a payment confirmation advice from the bank and your Tax details will be updated and confirmation sent to KRA on a real time basis. The Advice provided by the Bank is final and sufficient proof of payment both to KRA and the tax payer. It is also possible to enquire about your payment status online from the KRA website to confirm that the details have been updated.

    Star InstaRemitQuick fund transfer to India (HRTGS)

    • Efficient Remittance to India through Bank of India branches or any other bank in India
    • Available to customers / non-customer * (* subject to KYC/AML norms)
    • Hassle free and easy money transfer to India
    • Instant credit to beneficiary’s account with any branch of Bank of India in India
    • Same day / within 24hrs credit to beneficiary’s account with branch of other Banks in India which are RTGS/NEFT enabled.
    • Trade related Payments NOT allowed under these remittances.

    Deposits

    Current Deposits
    Current accounts can be opened by individuals, business community , corporate bodies or the like where the account holder has often to receive money and to make a number of payments. These are very active accounts. No interest is paid on balances in these accounts and there are no restrictions as to the number of deposits into and withdrawals from the account per day.Cheque books are issued in these accounts.

    Savings Bank Deposits
    Savings Bank accounts can be opened by individuals and the like where the account holder deposits money for the purpose of savings. There is no restriction on the number and amount of deposits to be made on any one day. Balances in these account earn interest and the amounts from the account can be withdrawn when needed. These accounts can be opened with or without cheque book facility.
    The interest rate on Savings Bank Deposit Accounts has been changed to @ 6.65% with effect from 19.03.2018.

    Term Deposits
    Term deposit accounts can be opened by individuals , corporate bodies ,etc. These deposits are for a period of 30 days or more. The interest payable on these deposits is higher than that payable in savings bank deposits. Receipts are issued for each deposit made under this scheme.In case of need these deposits can be prematurely encashed.

    Term Deposit rates
    Call Deposits
    Call deposits can be kept by individuals , corporate bodies ,etc. Call deposits are not opened for any fixed period. These deposits can be withdrawn at the will of the depositor . The contracted arte of interest is payable on this deposit. The interest payable on call deposits is higher than that payable in savings bank deposits.

    Grievances redressal

    For any complaint / Redressal of grievances contact us at:-
    Name : Mr Sibasish Tripathy, Chief Manager Operations
    Telephone No. +254 020 2221414/15/16
    Email: seniormanager.operations@boikenya.com

     

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