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Let’s say Rani, a customer of Bank of India, wants to verify her account.
She’s happy that she can easily keep track of these charges and get the services she needs without much hassle!
A Bank of India statement is a record that displays all transactions (both credits and debits) in your account for a given period, typically a month. It contains information such as your account number, bank details, transaction history, and opening and closing balances. Statements may be viewed online or mailed to you. They are employed to monitor spending, verify errors, or establish income when getting loans or credit.
To receive a Bank of India mini statement through SMS, do the following:
To obtain a Bank of India mini statement through a missed call, do the following:
This service is available 24/7 and is free of charge.
Go to Your Nearest Branch: Locate the nearest Bank of India branch using their branch locator on the app or website.
Speak to a Banking Executive: At the branch, speak with a banking executive or customer service officer and inform them you require a statement.
Provide Account Information: Provide your account number and any other information that is needed, like your date of birth, for identification purposes.
Define the Statement Period: Inform them of the period for which you would like to receive the statement (e.g., the last 3 months or a specific date range).
Request a Paper Copy: Request a paper copy of the statement, although digital versions may be an option as well.
Get the Statement: The executive will deal with your request and give you the statement. Check it carefully to ensure that it's for the right time.
A Bank of India statement is a record of all transactions in your account within a specified period, typically a month. It helps you monitor your finances and maintain accuracy. The following is what you will get in a standard Bank of India statement:
Here’s the information about the Bank of India (BOI) statement charges in a table format:
Service | Charge | Explanation |
Monthly Statement (CD/CC/OD accounts) | Free | Provided once a month for CD/CC/OD accounts without charge. |
E-Statement (SB/CD/CC/OD) |
Rani, a customer of Bank of India, recently had to verify her account information and was charged several fees. She was relieved to hear that her monthly statement and e-statement were free. But when she asked for a balance certificate for a loan, she was charged ₹150. Subsequently, she requested another statement, which cost her ₹25, and if her statement was more than 10 pages, there would be an additional ₹5 per page.
Ultimately, Rani was content that she could easily keep up with her charges and avail herself of the services she required.
Here’s a comparison of the Bank of India Mini-Statement and Full Statement in a table:
Feature | Bank of India Mini-Statement | Bank of India Full Statement |
Purpose | Provides a quick overview of recent transactions (last 3-5). | Offers a detailed record of all transactions for a specific period (e.g., month/year). |
Access |
Here’s a breakdown of common issues related to Bank of India statements and how to address them in a table format:
Issue Category | Details | How to Address |
1. Discrepancies and Unauthorised Transactions | ||
Unrecognised Transactions |
Transactions that were not authorised, potentially indicating fraud or errors.
Report to customer care or the fraud department immediately.
Incorrect Debits/Credits
Mistakes in recording transactions, leading to wrong account balances.
Contact the bank to correct the error.
Unauthorised Access
If the account is compromised, leading to unauthorised transactions.
Free
Auto-generated or on request for SB, CD, CC, and OD accounts at no cost. |
Balance Certificate (SB/CD/CC/OD) | ₹150 per occasion | Charged for issuing a balance certificate for any of these accounts. |
Additional Statements | ₹25 per statement | Charged for additional statements beyond the monthly statement. |
Additional Pages (if exceeding 10 pages per ID) | ₹5 per additional page | Charged for extra pages beyond the standard 10 pages per client ID. |
Mini Statement | Free | Available free of cost through various channels like SMS, mobile banking, etc. |
Statement of Account (as per CDSL/NSDL norms) | Free | Provided free as per CDSL/NSDL requirements. |
Saving Bank Accounts (Statement with balances and entries) | ₹100 | Charged for statements with balances and entries from the last print, with extra charges for exceeding the standard page limit. |
Issue of First/Original SB Passbook | Free | No charge for the first passbook issued. |
Continuation Passbook | Free | No charge for continuation of a passbook. |
Available via missed call, SMS banking, mobile banking, and internet banking.
Available at the branch or through internet/mobile banking. |
Content | Includes date, amount, description of transactions, and account balance. | Includes all transactions (deposits, withdrawals, fees), along with account details (number, name, address). |
Cost | Generally free of charge. | Free if accessed online; may incur a fee if obtained in person at the branch. |
*T&C Apply
Report the issue to the bank for investigation and resolution. |
2. Access and Understanding the Statement
Difficulty Accessing Statements
Issues with accessing statements, either online or physically.
Reach out to customer service or visit the branch for assistance.
Lack of Clarity
Statements may be hard to understand due to complex terminology or concepts.
Contact the bank for clarification or request an easier format.
Incomplete Information
Missing transaction details or contact information on the statement.
Contact the bank to request the missing information.
3. Other Potential Issues
Late or Missing Statements
Delays or missing statements make it hard to track finances.
Notify the bank to investigate and resolve the issue.
Unclear Fee Structures
Hidden or unclear fees that lead to unexpected deductions.
Contact customer service for clarification on charges.
Unaddressed Grievances
Difficulty resolving complaints related to statements or banking services.
Use the bank’s grievance redressal mechanism or contact the Banking Ombudsman.
Non-adherence to Fair Practices
The bank is not following fair practices in its services, leading to customer dissatisfaction.
File a complaint with the bank or regulatory authorities.
Regulatory Issues
Non-compliance with regulatory changes (e.g., AML or data protection).
Raise concerns with the bank or the appropriate regulatory body.
Digital Banking Issues
Increased risk of online fraud due to digitisation.
Stay informed about security measures and report suspicious activity.
For Bank of India customer care for statements, you can reach them via the following:
Contact Numbers:
Email Address:
The Bank of India statement is a must-have to manage your finances. It keeps you informed about your transactions, whether you want to check your monthly expenditure or confirm your account for a loan. Rani's case illustrated how simple it is to work the system, whether you access your statement via internet banking, mobile applications, SMS, or even a missed call.
And, although most of the services, such as the monthly statement, are complimentary, other requests, such as a balance certificate or extra pages, incur small fees. So, always keep a check on your fees and make sure everything balances out. If you ever run into any problems, the customer care service is merely a phone call or a message away. Take charge of your finances with ease, and never fall behind on a detail!
Q1: Can I get a Bank of India statement from any branch?
Yes, you can visit any Bank of India branch to request a physical copy of your bank statement. Alternatively, use an ATM to generate a receipt of your last 10 transactions.
Q2: How long does it take to receive a Bank of India statement?
Bank of India eStatements are issued monthly, quarterly, or annually, matching the frequency of paper statements. Credit card statements are automatically generated monthly based on your chosen delivery preference.
Q3: What is a bank statement copy?
A bank statement copy is a summary of your account’s monthly transactions, including deposits and withdrawals. It is provided by the bank in paper or digital form, containing account details and transaction history.
Bank Statement Pages | |||
