NRI Terms Conditions


Coronavirus(Covid-19): support for our customers:We are closely monitoring the coronavirus(Covid-19) situation in U.K and taking sensible precautions to make sure our customers are not inconvenienced

Customer Attention Please: On account of ongoing nationwide lockdown due to Covid-19 Pandemic all our UK branches viz. London Branch,Birmingham Branch,Leicester Branch,Glassgow Branch and Wembley Br View More...

Customer attention please : On account of ongoing nationwide lockdown due to Covid-19 Pandemic,our Leicester branch is working on reduced hours from 10:00 a.m. to 2:00 p.m in line with timings of oth View More...

Coronavirus (Covid-19) Notice 2 : Please read our Coronavirus (Covid-19) Notice 2 for latest updates

Customer attention please: Change in Branch Timings: In view of the UK Govt. instructions on travel restrictions, timings of Bank of India UK Branches will be changed to 10:00 a.m. to 03:00 p.m.

Customer attention please: No Transaction Payments allowed w.e.f. 01/02/2019. Only viewing facility is available for all the Internet Banking Customers View More...

Bank of India is authorised in UK by Prudential Regulation Authority (PRA) and regulated by PRA & Financial Conduct Authority (FCA). Our financial service registration NO. is 204629 | A member of Fin View More...

No postal applications will be accepted for new Retail Deposits with effect from 02-08-2016, till further notice. View More...

Exchange Rates

NRI Terms Conditions

NRE/FCNR/NRO accounts are opened and maintained at our branches in India and NOT at Bank of India in the UK.

These deposits are NOT covered by any of the Financial Services Compensation Scheme (FSCS).

These deposits are the liabilities of Bank of India in India and are not a liability of any branch outside India.

The depositor has to assess the tax liability, if any, in the U.K. for the amount of interest earned on these deposits in India.

These deposits are governed by regulations issued by the Reserve Bank of India from time to time.

The deposits are payable only at the branch in India where the account is opened. The account will be serviced by the branch in India and the accountholder will approach the branch in India for any type of query or transactional matter.

The Bank may consider at its discretion any request for payment of any deposit before maturity with a penalty as permitted by RBI regulations. Presently a penalty of 1% on the actual interest payable for the actual period it has completed is levied. There will not be any interest payable for deposits that has not completed the minimum prescribed period of the deposit scheme.

The Bank reserves the right to accept or reject any application without assigning any reason.

For Current Interest Rates and detailed view on these deposits, please visit our corporate website www.bankofindia.co.in

Coronavirus (Covid-19): support for our customers

We are closely monitoring the coronavirus (Covid-19) situation in U.K. and taking sensible precautions to make sure our customers are not inconvenienced while dealing with our Bank of India, U.K. branches.

Read our advice below on the steps you can take to stay aware of any possible impact on your finances.