Karur Vysya Bank Savings Account

Karur Vysya Bank, the largest private sector bank in Tamil Nadu, was established in the year 1916 in Karur, in Tamil Nadu. It was set up to support the traders and agriculturists of the region. The bank has over 650 branches all over India.  

Types of Karur Vysya Bank Savings Accounts

KVB Shakthi Savings Account: This account is designed exclusively for women. It comes with a variety of benefits such as 60 free cheques in a year, unlimited free access to net banking and mobile banking, free NEFT/RTGS fund transfers, etc. Customers of this account also receive a 25% discount on the processing fee for retail loans and allied products.

Jumbo Kids Savings Account: Karur Vysya Bank introduced this scheme to inculcate a saving habit in children. Parents or guardians can open this account in their child’s name. It is a zero balance account that offers a free debit card as well as a free doll on the creation of the account.

Prestige Savings Account: This account is designed for individuals with high net worth. It is packed with special benefits and privileges like free personalized chequebooks and internet banking facility. The account holders also receive a free international debit card and a high withdrawal limit of Rs. 50,000 per day. Additionally, all money transfers through NEFT or RTGS are free of charge.

Freedom Savings Account: This account offers the benefits of a premium account without having to maintain a high account balance. Account holders get free cash remittance facility at base branches and 40 free cheque leaves every year.

Student Savings Account: This savings account is specially designed for students. It aims at helping students to develop the habit of saving in order to financially secure their future. The account offers benefits such as a low minimum balance and debit cards for account holders over 12 years of age. The account holders can also make 90 free ATM transactions for free at any ATM of Karur Vysya Bank in a year.

Rainbow Savings Bank Scheme: This account provides the combined benefits of a fixed deposit account and the features of a savings account. It aims to provide the account holders with an opportunity of earning attractive interest on their savings. When the account balance exceeds Rs.15000, funds in multiples of Rs.5000 are swept out and converted into fixed deposits for 91 days. Account holders receive interest on the swept-out amount as per the prevailing interest rates of deposit accounts. Account holders can also opt for a debit card and avail of free internet banking and mobile banking services.

Yuvashakti SB Savings Account: The Yuvashakti account gives a financial boost to kickstart one's career. A customer can receive a multitude of benefits such as an international debit card, internet banking, bill payment services and e-ticketing facilities. Customers also receive a personalized chequebook with 50 free cheque leaves every year.

Regular Savings Account: This is a no-frills savings account meant for promoting savings. This account offers 20 free cheque leaves per year as well as free cash remittance in the base branch. Account holders can also get a debit card as well as free internet and mobile banking facilities. Account holders are allowed to make a total of 90 free transactions each year, following which, they are charged Rs. 2 per transaction.

Smart Savings Bank Account: This is a salary account for working professionals. It offers convenient features like a free debit card for the first year as well as free access to internet banking. Account holders can receive their account statements through email at no extra charge and can also avail 3 NEFT transfers every month for free. Additionally, an overdraft of 50% of the last-drawn salary amount can be requested for.

Basic Savings Bank Account or Kalpatharu Account: This account aims to ensure that all members of the society can access banking services. This basic savings account is designed for customers who wish to avail of the basic banking services associated with a savings account. This account doesn't have any minimum balance requirement or any limitations on the number of transactions allowed.

Minimum Balance Requirements for Karur Vysya Bank Savings Accounts

Type of Savings Account	Monthly Average Balance
Shakthi Savings Account	Rs. 5,000
Jumbo Kids Savings Account	-
Prestige Savings Account	Rs. 1,00,000
Freedom Savings Account	Rs. 5,000
Student Savings Account	-
Rainbow Savings Account	Rs. 3,000
Yuvashakti SB Savings Account	-
Regular Savings Account	Rs. 1,000
Smart Savings Account	-
Basic Savings Bank Account	-

Documents Required to Open a Savings Account

• Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc.
• Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc.
• Passport sized photographs