Karur Vysya Bank Savings Account

The Karur Vysya Bank was incorporated in the year 1916 at Karur, Tamil Nadu for the benefit of the trading community of the city. This bank founded by M.A. Chettiar & A.K. Chettiar is one of the largest banks of South India & has about 657 branches & about 1652 ATMs spread across the country.

To open an account with Karur Vysya Bank savings account, documents towards identity & address proof along with passport sized photographs are to be submitted to the bank.

Types of Karur Vysya Bank Savings Accounts:

1. Prestige Savings Account:

Required to maintain an average monthly balance of Rs. 1 lakh, this account is for the privileged individuals. Free personalised cheque book, free international debit card with a daily withdrawal limit of Rs. 50000 & internet banking with free NEFT/RTGS are the main benefits of this account.

2. KVB Shakthi Savings Account:

This account is meant for women and featured with benefits such as free & unlimited use of internet & mobile banking, 60 free cheque leaves per year, discount of 25% on the process fee for retail loans, free NEFT or RTGS transactions and zero service charge for demand draft or pay order transactions limited to Rs. 1 lakh per month. An average monthly balance of Rs. 5000 is to be maintained in the account.

3. Freedom Savings Account:

By maintaining average monthly balance as low as Rs. 5000, this account is featured with premium benefits like 40 cheque leaves per year, no service charge on issue of demand drafts limited to Rs. 25000 per month & free cash remittances at base branches of the bank.

4. Jumbo Kids Savings Account:

This zero balance account designed for children can be opened by a parent/guardian. Free ATM/debit card & a free doll is provided at the time of opening of the account.

5. Student Savings Account:

This zero balance account is meant for students to help them inculcate saving habits for a financially secured future. Account holders over 12 years of age can avail debit card facility with free transactions at the bank's ATMs. The account has features such as maintaining low minimum balance & 90 free transactions per year.

6. Rainbow Savings Bank Scheme Account:

This account is clubbed with a fixed deposit to enable the account holder to earn high interests on the savings. Amounts in multiples of Rs. 5000 are swept out in 91 days fixed deposits, when the balance crosses Rs. 15000. The interest on these fixed deposits shall be as per existing rates. Internet banking, mobile banking & a debit card can be availed by the account holder. The average monthly balance of Rs. 3000 is to be maintained in the account.

7. Yuvashakti SB Savings Account:

This savings account is featured with many benefits such as international debit card, 50 free cheque leaves per year, free internet banking & free e-commerce facilities like bill payment, e-ticketing, etc. The account holder is not burdened with any minimum balance to be maintained in the account & is encouraged to promote savings.

8. Regular Savings Account:

Required to maintain an average monthly balance of Rs. 1000, this basic account is featured with a host of benefits such as 20 free cheque leaves per year, debit card, internet banking facility, mobile banking facility & free cash remittances at base branch. The account holder is entitled to 90 free transactions per year, thereafter a fee of Rs. 2 per transaction shall be charged.

9. Smart Savings Bank Account:

This is basically a salary account with no maintenance of minimum balance. This is meant for working professionals or the salaried. This account is features with benefits such as free debit card for the first year, free e-statement on e-mail, free internet banking with 3 NEFT transfers per month. A credit amount limited to 50% of the last salary deposited in the account is offered to the account holder.

10. Basic Savings Bank Account (Kalpatharu Account):

A zero balance account, this account is for all sections of the society. This is meant for people who require a basic savings account, in which any number of transactions can be made with this account.

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