Services available at the San Francisco Agency


 

 

  • Sending Money to India  
  • Export/Import Trade Services
    -Import/Export Bills for Collection
    -Standby & Commercial Letters of Credit 
    -Trade Finance
  • Financial Assistance for Business
    -Commercial Loans
    -Lines of Credit
    -Participation/Syndication of Loans
  • Assisting in Opening of Accounts for NRIs at our Branches in India
  SENDING MONEY TO INDIA
 
  We can remit funds to any place in India either through our own network of over 2500 branches in India or through other Indian banks.
   We transfer the funds in rupees or dollars. Our conversion rates are competitive and excellent. For large amounts, we quote separate conversion rates.  
   We transfer the funds directly by mail or cable or issue demand drafts on our branches in India.

   Our service charges are as under :

Remittance

Demand Draft

Mail Transfer

Telex/Wire/Cable Transfer

Indian Rupees

10.00

10.00

10.00

US Dollar

25.00

25.00

25.00

Cancellation of Draft

10.00

-

-

Issuance of Duplicate Draft

15.00

-

-

Tracer for remittance by Cable/Fax (for A/C with Bank of India Branches only)

10.00

10.00

10.00

        The following information is required by us for processing your request :

1.  If you call in PERSON -

a) Fill up the application form available in the Bank.
b) You can give a Cashier's/Official/your Personal Check drawn payable to BANK OF INDIA for the amount of remittance and our service charges. In case of your personal check the remittance will be effected after 2 clear working days after receipt of the check.
c) Please note that the name of the remitter, signatory of the request for remittance and the name of the applicant on cashier’s/official check should be the same.
d) Please bring your Driving License number/ID Number/Indian Passport for identification.
e) For remittances of USD 10,000 and above, your proof of income (e.g. W-2, Tax Return copy etc) is necessary. Bank also reserves its right to insist for the aforesaid in other cases too at its discretion
2. If you send your request by MAIL -
(a) Download application cum additional information form and fill out the details (blanks) completely (incomplete forms will NOT be acted upon) CLICK HERE TO DOWNLOAD

CONDITIONS GOVERNING ISSUANCE OF DRAFT:
CONDITIONS GOVERNING ISSUANCE OF CABLE OR MAIL TRANSFER:
(b) Mail your application to us with your check (personal check/official check/cashier’s check) for the amount of remittance plus our charges – drawn in favor of Bank of India (Remittance shall be made upon realization of your check).
(c) Provide your Name, Address and daytime telephone number/fax number to enable us to contact you in case of need.
(d) Your Social Security Number and copy of photo ID (passport or driving license) is a Must. This information may be used for verification purpose with respective authorities.
(e) Information like source of funds, purpose of remittance, Bank Name of the beneficiary, branch name where funds are to be remitted, your bank name and account number in USA…… in the application cum additional information form is also mandatory.
(f) For remittances of USD 10,000 and above, your proof of income (e.g. W-2, Tax Return copy etc) is necessary. Bank also reserves its right to insist for the aforesaid in other cases too at its discretion
(g) If payment is for a business purpose, copy of back-up paper like invoice or payment order or sale contract is necessary.



   
 

Export/Import Trade Services

Do you have trade relations with India by way of exporting or importing goods and/or services?

We offer the following services :

 

i) Advising and adding confirmation to L/Cs opened by our branches or any of Indian Banks.

ii) Negotiating documents under L/Cs opened by our branches or any of Indian Banks whether advised through us not

iii) Discounting of the drafts at competitive rate of interest, drawn under D/A LCs opened by our branches or any Indian Banks.
   
iv) Opening of Letters of Credit on India for import goods in the USA    

v) Issuance of guarantees through our branches in India or Standby Letters of Credit in the USA    

vi) Collection of import/export documents

          Our service charges for the above services are extremely competitive.
 

Financial Assistance for Business
 

We also grant commercial loans/line of credit at competitive rates of interest linked either with Prime or LIBOR for domestic business.

We grant loans for :

a)  Real Estate Business focused exclusively on Motel Financing at competitive rates of interest.

b)   Business against the Foreign Currency Non-Resident Deposits or NRE Repatriable Rupee Term Deposit of Bank India.

c)   Other domestic business.

       We also offer :

a)   Standby Letters of Credit both for US and India.

       We also :

a)   participate in syndicated loans

b) invest in bonds/other securities of US or Indian origin.
 


Assisting in Opening of Accounts for NRIs at our Branches in India

    We provide assistance in opening of FCNR/NRE Accounts in US Dollars/Indian Rupees for NRIs at our branches in India.  CLICK HERE to download the form and instructions.

     Please CLICK HERE for the interest rates being provided in India on NRE deposits.  However, the rates keep on changing therefore please confirm the interest rates by calling us at 415-956-6326.

     Please CLICK HERE to see the brief salient features of the various NRI schemes available with Bank of India in India.
 
Instructions For Filing In Account Opening Form
  1) GENERAL
  a) Please fill in the enclosed account opening form and sign wherever provided for.
b) Please tick the appropriate Box(es).
c) Please send photocopies of your passports (pages containing your name, signature, place/date of issue, date of birth etc.) duly authenticated by any of our branches abroad/Notary public/Indian Embassy.
d) Please send your account opening form to the branch in India where you desire to open account directly or through any of our branches abroad.
e) Please ensure to get your signatures verified by a bank/Indian Embassy/Notary Public/persons known to our Bank in India/abroad.
f) Please arrange to send one Passport size photograph per account for each account holder duly signed at the back with full name.
  2) ELIGIBILITY
  All Non-Resident Indians and Indian Nationals holding foreign passports are eligible to open FCNR/NRE/NRNR/NRO accounts. This includes those whose parent/s and/or grand parent/s was/were resident/s in undivided India.
  3) NOMINATION
  Under the Banking Companies (Nomination) Rules, 1985, banks are allowed to accept nominations by account holders in respect of their deposit accounts.
The nomination can be made by the account holder/joint account holders.
The nomination has to be made in favor of an individual only
  4) AUTOMATIC RENEWALS AND SAFE CUSTODY OF DEPOSIT RECEIPT
  You can lodge the Deposit Receipt in Safe Custody with the Branch. You have the choice of instructing our bank for renewal of your deposit on maturity automatically on identical terms at ruling rate of interest.
  5) REMITTANCES
  Please indicate in the account opening form the mode of transfer of funds for opening your account. You can send the amount through a personal check/demand draft/mail transfer or through telegraphic transfer for credit of proposed account. For details please refer to our page on remittances to India.

Location | Services available at the San Francisco Agency | Contact Persons