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NRI Terms Conditions

Announcements

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...

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.

REVISION IN DEPOSIT INTEREST RATE WEF 21/04/2021 View More...

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 BUSINESS – TERMS AND CONDITIONS

As per UK Banking Regulations, Bank of India, UK Operations branches cannot open, close or operate Non- Resident Indian (NRI) accounts which are offered by our domestic branches in India. These accounts are not covered by FSCS deposit protection Insurance and are also not supervised by UK Banking Regulators as these accounts are domiciled in India and are subjected to Indian laws and Banking Regulations. The deposits are payable only at the branch in India where the account is opened. The NRI account will be serviced by the branch in India and the accountholder will have to approach the branch in India only for any type of query or transactional matter. As NRI accounts holders are customers of Indian branches (not of BOIUK branches),the customer complaints if any have to be raised with appropriate authorities in India as per RBI / Indian Banking regulations / BOI guidelines and they do not fall under the jurisdiction of UK Financial Ombudsman Services (FOS). Also, NRI accounts transactions and personal data are subjected to Indian Data Protection Act and BOIUK has no access to the NRI accounts data of Indian branches. Hence, UK based NRI customers of the bank are advised to contact their Indian branch which maintains their NRI accounts directly for any NRI account related banking services.

For Current Interest Rates and detailed information on these NRI deposits like premature payment of deposit, related penalty, minimum interest eligibility period etc., please visit our corporate website www.bankofindia.co.in

As a service to our parent company, we provide NRI accounts information only as a general guidance, not as a solicitation for business, investment advice or non-tax related advice. It is advised that customers / prospective customers of our parent company, who are residents of UK, should consider seeking professional advice, including advice on UK Tax Laws, before opening or operating NRI accounts.

TYPE OF NRI ACCOUNTS (for branches in India)

Accounts may be maintained in India Rupees as well as in designated foreign currency. The accounts may be Savings Deposit type or Term Deposit type. For details on different types of NRI accounts please visit our parent bank website www.bankofindia.co.in – NRI Services.

Please feel free to call us at the following numbers, in case you need more information

Toll Free No :08000328044
Telephone No: 020 30190554
Fax No: 020 8903 1405

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.