Bank of India Mutual Fund
AUM
₹ 11,503 cr.
AMC Age
16 Years
No. Of Schemes
63
Bank of India Mutual Fund, formed through a partnership between Bank of India and AXA, provides a wide range of mutual fund schemes. Established in 2007, the fund house is committed to aligning investors' financial goals with their risk appetite.
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About Bank of India Mutual Fund
- About the Fund
- Key Information
- Types Of Funds
- Charges & Fees
- Risk Factors
Bank of India Mutual Fund, managed by Bank of India Investment Managers Private Limited (formerly BOI Star Investment Managers Private Limited and BOI AXA Investment Managers Private Limited), is a wholly owned subsidiary of Bank of India (BOI), a leading public sector bank. The journey started when Bharti AXA received a mutual fund license, followed by BOI acquiring a 51% stake in 2012 and the remaining 49% stake in 2021, making BOI the sole sponsor.
Key Features
- Bank of India Mutual Fund offers mutual fund schemes diversified across various asset classes, catering to different financial goals.
- The fund house benefits from the credibility and financial strength of one of India’s leading public sector banks.
- The fund house emphasises financial literacy by offering resources and educational content to help investors make informed decisions.
- With Bank of India's vast branch network and financial partnerships, the fund house ensures nationwide investor accessibility.
Documents Required
To invest in Bank of India Mutual Fund, investors must complete the Know Your Customer (KYC) process and submit the required documents. Below is a list of documents based on investor type:
KYC Application Form: Completed and signed CKYC application form
In-Person Verification (IPV) – Mandatory for KYC compliance.
Bank Account Details – Canceled cheque or bank statement for linking the investment account.
Nomination Form (optional but recommended)
Proof of Identity (Any one of the following, self-attested):
- PAN Card (mandatory for investments above ₹50,000 per year)
- Aadhaar Card
- Passport
- Voter ID
- Driving License
- NREGA Job Card (duly signed by a State Government officer)
Proof of Address (Anyone, except PAN card):
- Aadhaar Card
- Passport
- Voter ID
- Driving License
- Utility Bills (not older than 3 months)
- Bank Account Statement/Passbook (not older than 3 months)
Investors are advised to contact Bank of India Mutual Fund’s customer service or visit its official website for any modifications, redemptions, or complaints.
Bank of India Mutual Fund Managers
Mr. Alok Singh
Mr. Firdaus Ragina
Mr. Mithraem Bharucha
Mr. Nilesh Jethani
Mr. Nitin Gosar
How To Invest In Bank of India Mutual Fund With Choice?
Bank of India Mutual Fund FAQs
The best Bank of India Mutual Fund depends on your financial goals and risk appetite. Equity schemes are ideal for long-term growth, debt schemes offer stability, and hybrid schemes provide a balanced approach. With Choice FinX, you can leverage advanced research tools and conduct comprehensive fundamental and technical analysis to make informed investment decisions.
Bank of India Mutual Funds are subject to taxation based on the type of investment and holding period. Equity fund gains are taxed at 20% (short-term) and 12.5% (long-term if gains exceed 1.25 lakh annually). Debt fund gains are taxed per your income slab. ELSS funds offer tax benefits under Section 80C.
To invest with Choice, you need a PAN card, Aadhaar, proof of identity, proof of address, and a linked bank account. Completing the KYC process is mandatory. Non-individual investors may require additional documents, which can be conveniently uploaded on the Choice FinX platform.
The minimum investment amount for lump sum investments in Bank of India Mutual Funds is generally 5,000, while Systematic Investment Plans (SIPs) typically start at 1,000.
Returns are calculated based on the Net Asset Value (NAV). The formula used is: Returns (%) = [(Current NAV - Initial NAV) / Initial NAV] × 100. For SIP investments, the XIRR (Extended Internal Rate of Return) method is used. Choice provides real-time NAV tracking and return calculators to help estimate potential earnings.
Yes, you can switch between Bank of India Mutual Fund schemes through Choice FinX. The platform enables smooth fund switching, but it is important to consider exit loads and tax implications depending on your investment duration.
Charges include the expense ratio covering fund management fees, exit load for early redemptions, and transaction fees on investments above a certain amount. Direct plans available on Choice FinX offer lower costs compared to regular plans.
No, a Demat account is not required to invest in Bank of India Mutual Funds through Choice FinX. You can invest directly via the platform, although holding mutual fund units in electronic form through a Choice Demat account is an available option.
You can access your Bank of India Mutual Fund statement through the Portfolio section on the Choice FinX platform. Statements are also available via the Bank of India Mutual Fund website, through email requests, or via CAMS or KFintech portals.
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