Transaction Limits and Fees for BOI: A Comprehensive Guide

Bank of India (BOI) has provided detailed guidelines for its customers regarding the transaction limits and associated fees. This article will provide a comprehensive breakdown of these points, offering clarity and transparency for users.

Overview of ATMs and Transaction Limits

The Bank of India does not provide a set number of free transactions across its ATMs. Instead, the charges and limits are outlined based on the type of account, the transaction type (financial or non-financial), and the ATM location. The following table breaks down the transaction limits and associated fees:

Transaction Limits and Fees at Banks of India ATMs

Account Type Transaction Type Free Transactions at BOI ATMs Charges for Financial Transactions Charges for Non-financial Transactions Savings Account SB (with AQB up to 1Lac) Financial 10 Rs 10 per transaction Rs 8 per transaction Savings Account SB (with AQB up to 1Lac) Non-financial 10 Rs 10 per transaction Rs 8 per transaction Small/No frill deposit account holders Financial and Non-financial 5 - - Current/CC/Overdraft account holders Financial - Rs 20 per transaction - Current/CC/Overdraft account holders Non-financial - - Rs 8 per transaction

Additional Considerations

In addition to the above, there are specific considerations for transactions at ATMs outside the 6 metro cities, as well as inter-bank ATMs. For customers with small/no frill deposit accounts, BOI offers a free transaction limit of 5, regardless of whether the transaction is financial or non-financial.

Transactions at Other Banks' ATMs

When using ATMs at other banks, the transaction limits and associated charges will vary depending on the location and the type of transaction:

Transactions in the 6 Metro Cities

Financial Transactions: Rs 20 per transaction at ATMs of other banks in 6 metro cities. Non-financial Transactions: Rs 8 per transaction at ATMs of other banks in 6 metro cities.

Transactions Outside the 6 Metro Cities

Financial Transactions: Rs 20 per transaction at ATMs of other banks outside the 6 metro cities. Non-financial Transactions: Rs 8 per transaction at ATMs of other banks outside the 6 metro cities.

Conclusion

The transaction policy at the Bank of India is designed to provide clear guidelines for its customers, ensuring transparency and efficient financial management. It is important for users to consult their specific account details and understand the transaction limits and associated charges to avoid any unwanted fees.

For further clarifications or any inquiries, customers are advised to contact their nearest Bank of India branch or visit the official website for up-to-date information.