In order to fulfil the needs of rural population, Mr.A.B.Shetty, along with the local farmers in Karnataka and Manglore, established The Vijaya Bank (Scheduled Bank) in the year 1931 whose headquarters at present is located in Banglore to cater the needs of the customers across wide range. Although it was set with an aim to provide banking facility to the western part of Karnataka, the bank spread its network through 1786 branches and also it got 1560 ATM s around the country. The rate of interest is 4% unless specified.
Individuals and Hindu Undivided Families are eligible to open a Savings Account with the bank. A detailed list is provided below, unless specified otherwise for certain accounts:
1. Minors (jointly held with a parent or guardian)
2. Trusts, clubs, associations, schools, religious institutions
3. Individuals ( single or joint account holders)
4. Minors above 12 years of age (on furnishing proof of date of birth)
To open an account with Vijaya Savings account customer needs to submit any of the following documents as address proof: Voter ID, Ration card, Passport, Ration card, Letter from the applicant's employer or Utility bills such as telephone bill or electricity bill. In addition to the above documents, customers need to submit any of the following documents as Identity proof like:
1. Govt.Issued photo identity card.
2. PAN card.
4. Letter issued by a public authority or public servant confirming the identity and residence of the applicant subject to the bank's satisfaction.
5. Valid driving license.
a.The V-Balika Savings Bank Account: This is for the students from Scheduled caste/scheduled tribes who have cleared VIII class can open this by a girl student who is below 16 years of age with zero balance and Enrolled in Class IX in any Indian State or Union Territory school that is government-run, government aided or run by Local Bodies. Non-SC/ST girl students also qualify. Unmarried Students of Kasturba Gandhi Balika Vidyalaya and have cleared Class VIII. The deposit will be maintained till the student reaches 18 years of age.
b.The V-Balika Term Deposit Scheme: This account is designed for the government incentive scheme for the girl students in the form of term deposits where cumulative rate of interest is applied for the term deposits and this term deposit is continued till students attain the age 18.
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