Date:18/03/2005 URL: http://www.thehindubusinessline.com/2005/03/18/stories/2005031802630600.htm

Back Add-ons for Star savings accounts

Our Bureau

Mr M. Venugopalan, CMD, Bank of India, on his way to announce the launch of `Star Diamond Saving Account' in Hyderabad on Thursday. - - A. Roy Chowdhury

Hyderabad , March 17

BANK of India (BoI) has launched a specially designed savings product called `Star Diamond Savings Account' here on Thursday.

Addressing a customers' meet on the occasion, the BoI Chairman and Managing Director, Mr M. Venugopalan, said this was the first in a slew of products proposed by the bank pursuant to a business process reengineering exercise currently under way.

Hyderabad and Ahmedabad were chosen for the pilot launch extending over six months.

`Star Diamond Savings Account' envisages an average quarterly balance of Rs 1 lakh and above or a relationship with term deposits and retail loans. The bank has assigned values to different combinations on a clubbed product basis.

These customers would be entitled to a host of `free services' such as personalised multi city chequebook, home delivery of demand drafts, International Gold Credit Card and International Debit Card, waiver of charges on processing of personal and retail loans, maintenance of demat accounts and inward local cheque returns.