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Insurance
 

Bank of India with its Insurance partner Star Union Dai-ichi provides diversified kinds of Insurance at specially reduced rates to its customers.

 
 

Customers are requested to note that participation by them in insurance products is purely on a voluntary basis.

 

Commission for Insurance

As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by Bank from Insurance whose products are being distributed:


  1. Commission, Brokerage and trail from Insurance (Life)

  2. Category

    First Year Commission

    Renewal commission from 2nd year onward (If applicable)

    Min

    Max

    Min

    Max

    Protection

    20%

    35%

    5%

    7.50%

    Saving & Investment Premium

    2%

    37.50%

    2%

    7.50%

    Annuity

    2%

    2%

    NA

    NA

    Group Product*

    2%

    2%

    NA

    NA


    Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term

    *For Group Products commission payable is 2% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority (IRDA) from time to time.


  3. Commission, Brokerage and trail from Insurance (General Insurance)

Category

Commission

Min

Max

Health

10%

15%

Other

0%

15%

 
 
 
 
 
 
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We request our esteemed customers to urgently have their KYC details updated / corrected to avoid freezing of accounts new


Notice of EGM - Corrigendum


Notice of the EGM


Notice for Book Closure


MCLR w.e.f. 07.03.2017


Empanelment Of Sarfaesi Valuers


Details of unpaid / unclaimed Dividend


As part of FATCA/CRS requirements, all customers are requested to submit Declaration Form (For Individuals) / Declaration Form (For Entities) click to download with supporting documents to their Parent Branch immediately. Non-Compliance with this requirement may lead to freezing or closure of account as per guidelines.


Base Rate revised to 9.65% w.e.f 30.09.2016


List of Recovery Agents/ Enforcement Agents/Detective Agency of Lucknow Zone


List of Wilful Defaulters


Change of Registrar and Share Transfer Agent


Notice to CD Customers


Notice to Customers


Notice to SB Customers


ATM transactions for savings Bank A/c Customers


Notice for our DEMAT Account Holders


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