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Services available at the San Francisco Agency

Announcements

Bank of India’s New York Branch was established in December 1978. At present, it is operating from 277 Park Avenue in Manhattan. We also have an agency office in San Francisco, operating since Decemb View More...

Exchange Rates

 

Services available at the San Francisco Agency

  • Remittance – Sending Money to India
  • Export / Import Trade Services
  • Import / Export Bills for Collection
  • Standby & Commercial Letters of Credit
  • Trade Finance
  • Commercial Loans
  • Lines of Credit
  • Participation in Syndication of Loans
  • Assisting NRIs in opening accounts with our branches in India.

 

Sending Money to India

We remit funds, in Indian Rupee or US Dollars, to any Bank account in India.
Our service charges are as given below:

DestinationFunds Available DateExchange RateTT Charges (in USD)

Remittance in INR to a beneficiary in India

  • 1. Bank of India branches
  • 2. Other banks
2nd business day after the day of receipt of application and check. Rate prevailing on the date of receipt of application.
  • a. NIL.
  • b. 25.00
Remittance to beneficiary in India, irrespective of amount or currency (other than INR)
  • a. 30.00

 

If you come IN PERSON

  • Fill the application form available in the Bank.
  • You can give your Personal Check, payable to BANK OF INDIA, for the amount of remittance plus our service charges(if applicable). The remittance shall be made upon realization of your check. Please note that the remitter has to give his own check (drawn by him) for the remittance.
  • Please bring any valid document for identification like Driving License / Passport / State ID etc.
  • For remittances of USD 10,000.00 and above in a calendar year, proof of income (e.g. W-2, Tax Return etc) is required. Bank also reserves its right to insist for the aforesaid in other cases , at its discretion.

 

If you send your request by MAIL

  • Download the application cum additional information form (CLICK HERE) and fill it completely (incomplete forms will NOT be acted upon).
  • (a). Your Social Security Number and copy of Photo ID (Passport or Driving License) must be provided. This information will be used for the purpose of verification of your identity.
  • (b) Information like source of funds, purpose of remittance and beneficiary’s details like bank account details where funds are to be remitted is also mandatory.
  • (c) For remittances of USD 10,000.00 and above in a calendar year, proof of income (e.g. W-2, Tax Return etc) is required. Bank also reserves its right to insist for the aforesaid in other cases , at its discretion.
  • (d) If the remittance is being made for business purpose, copy of supporting documents like invoice, payment order or sale contract is also required.
  • Mail your application to us with your personal check for the amount of remittance plus our charges (if applicable) – drawn in favor of Bank of India (Remittance shall be made upon realization of your check).

 

Export / Import Trade Services

Do you have trade relations with India? We offer the following services -

  • Advising and Confirming LCs opened by our branches or by other Indian Banks Branches.
  • Negotiating documents under LCs opened by our branches or other Indian Banks Branches, whether advised through us or not.
  • Discounting the Documents or bills , at competitive rate of interest, drawn under D/A LCs opened by our branches or other Indian Banks Branches.
  • Issuing Letter of Credit for India for import of goods in USA.
  • Issuance of Guarantees through our branches in India or Standby Letter of Credit in USA.
  • Collection of Import / Export documents.

 

Financial Assistance for Business

  • We give commercial loans / line of credit, at competitive rate of interest linked with either BOI US Prime or LIBOR, for domestic business.
  • We give loans for Real Estate Business, focused exclusively on Motel Financing, at competitive rate of interest.
  • We give loans against Foreign Currency Non-Resident Deposits or NRE Repatriable Rupee Term Deposits of Bank India.

 

Other Facilities

  • Standby Letter of Credit, for both USA and India.
  • Participation in Syndicated Loans.
  • Investment in bonds / other securities of USA or Indian origin.

 

Opening of Accounts of NRIs at our branches in India

We provide assistance in opening of FCNR / NRE / NRO Accounts in US Dollars / Indian Rupee for NRIs at our branches in India.
Please CLICK HERE to see the features of various NRI schemes available with Bank of India.