Karur Vysya Bank Savings Account

EOD Balance	Rate of Interest (p.a.)
less than Rs. 5 lakh	2.25%
Rs. 5 lakh up to less than Rs. 10 lakh	2.50%
Rs. 10 lakh up to less than Rs. 1 crore	3.00%
Rs. 1 crore up to less than Rs. 100 crore	3.25%
Rs. 100 crore up to less than Rs. 150 crore	MIBOR-0.50%
Rs. 150 crore and above	MIBOR-0.50%

Note: Interest rates are updated as of 12th August 2024 and are with effect from 12th June 2024.

Also Read: Savings Account Interest Rates 2023

Karur Vysya Bank offers below-mentioned savings accounts:

Regular Savings	Basic Savings – Zero Balance
Salary Accounts	Rainbow Savings – Sweep In/Sweep Out
KVB Shakthi for Women	YuvaShakti Savings for Youth
Freedom Savings for Professionals	Student Savings
Prestige Savings for HNIs	KVB Senior Citizen Savings
Jumbo Savings for Kids

Regular Savings

Regular Savings account by Karur Vysya Bank is focused on all individuals to make them develop a habit of savings for their future needs. This account can be opened in the name of any individual singly, jointly, or with a guardian. This savings account offers the below-mentioned features.

• The account provides nomination facility
• 25 free cheque leaves per annum are provided
• Internet and mobile banking facility is free
• The account holder will get a free debit card

Basic Savings – Zero Balance

This savings account is designed keeping in mind all the individuals of the society. This account aims at bringing all sections of the society in the banking system. The account can be opened with zero balance and there is no need to maintain any minimum balance in this account. This basic account by Karur Vysya Bank provides a host of benefits and features to the individuals opening this account.

• The account holder will get a RuPay debit card
• The total credit in a financial year should not exceed Rs. 1,00,000
• The total of all withdrawal and transfer in a month should not exceed Rs. 10,000
• The account holder must ensure that the balance in the account at any point should not be more than Rs. 50,000
• The account holder will not be provided with a chequebook facility

Salary Account

The Karur Vysya Bank salary account comes in two variants called KVB Prestige Salary Account and KVB Regular Salary Account. The customer can choose from the given variants as per his/her requirements. The account holder can open this account with zero balance and there is no need to maintain any minimum balance in these savings accounts. Let us discuss in detail about the features and benefits offered by this savings account.

KVB Prestige Salary Account

• Designed for employees whose salary is above Rs. 50,000 per month
• No maintenance charges
• ATM transaction limit per day is Rs. 1,00,000
• No limit on cash deposits and withdrawals at base branch
• Lounge access available at Indian airports

KVB Regular Salary Account

• This account is designed for individuals whose salary is between Rs. 5,000 – Rs. 50,000
• Demat account opening is free
• The account holder is provided unlimited cash withdrawals at base branches
• No charges on non-maintenance of the account

Rainbow Savings – Sweep In/Sweep Out

Karur Vysya Bank’s Rainbow Savings bank scheme offers all features of a savings bank account and fixed deposit account. This account offers high liquidity with high returns. The account can be opened by anyone in their name or as a joint account. The account holder is expected to maintain a minimum balance of Rs. 3,000 in the savings account. If the customer fails to do so, a penalty of Rs. 200 plus GST will be charged for not maintaining the balance. Let us know about the features and benefits offered by this savings account.

• If the account holder retains a balance of Rs. 1,00,000 in the savings account, the amount in multiples of Rs. 10,000 will be automatically swept out to a fixed deposit portion of the account for a period of 90 days at EOD every Sunday
• Nomination facility is also available
• The account holder will get a free accident death insurance cover of Rs. 1,00,000
• Free debit card, internet banking, and KVB DLite mobile banking facilities
• No charges on closing FD up to 14 days
• The period of deposit will be 90 days. It is to be noted that simple interest at the applicable rate will be paid on the date of sweep out

KVB Shakthi for Women

This savings account by Karur Vysya Bank is specially designed for women. It provides multiple benefits such as savings bank, enhanced loan eligibility, and insurance cover. The account holder is expected to maintain a monthly average balance of Rs. 5,000. This account offers below-mentioned features:

• The account holder will get free chequebook of 25 leaves a year
• A demat account is provided for free for the first year
• A debit card will be provided for free
• The user can access internet banking and KVB DLite mobile banking services for free
• Accidental death insurance cover of Rs. 1,00,000 is provided for free

YuvaShakti Savings for Youth

Karur Vysya Bank YuvaShakti savings account for today’s youth is specially designed providing a host of features and benefits. It is best suited for students, young entrepreneurs and people who are starting their professional careers. Let us discuss in detail about the features and benefits offered by this savings account.

• A chequebook having 25 leaves a year is provided for free
• The account holder will get a debit card, internet banking, and KVB DLite mobile banking facilities for free
• Monthly statement of accounts is provided for free
• No limit on inter-bank transfer of funds
• No limit on payable at par multicity cheque facility
• The account holder can open a demat account with the bank at no extra charges
• At any KVB ATM, the account holder can avail top up facility for their mobile phone

Freedom Savings for Professionals

This savings account by Karur Vysya Bank is aimed at keeping the money secure while it provides the account holder with a host of features and benefits at maintaining a minimum balance in the savings account. The account holder is expected to maintain a balance of Rs. 5,000 per month in this savings account. It is to be noted that the bank will charge a penalty of Rs. 250 per month which will be proportionate to the percentage of a shortfall in balance maintained. Let us know about the features and benefits offered by this savings account.

• The account holder will get a free chequebook of 25 leaves per year
• The account holder will get monthly financial statement through e-mail
• Free debit card, internet banking, KVB DLite mobile banking facilities
• Debit transactions including ATM transactions are limited to 90 transactions for each half year for all the accounts that are mapped to a single customer ID put together. Thereafter, a service charge of Rs. 2.25 will be levied for each transaction
• Remittance of cash at base branch is free up to Rs. 5,00,000 per month
• Cash withdrawal at base branch is free without any limit through self-cheque

Student Savings

This Karur Vysya Bank savings account is aimed at students and provides them the opportunity to open their own savings account. The process to open this account is hassle-free and it provides students with a host of benefits and features. There is no need to maintain any minimum balance in this savings account. The account offers below-mentioned features and benefits.

• Chequebook will be provided only when the student attains the age of 18
• If the age of the account holder is 12 and above, debit card will be issued in the name of the student. However, if the age of the account holder is below 12, debit card will be issued in the name of the parent
• There will be no charges levied on remittance of cash up to a limit of Rs. 10,000 per month at a non-base branch. Thereafter, charge will be applicable
• 5 free ATM transactions per month under Visa and NFS Cluster
• The account holder will get free debit card, https://www.paisabazaar.com/banking/net-banking/ net banking and KVB DLite mobile banking facilities

Prestige Savings for HNIs

Prestige savings account by Karur Vysya Bank is for individuals having a high net worth. This is an exclusive savings account for such individuals and offers a host of features and benefits to them. Let us know about the features offered by this savings account.

• The account holder will get a free personalized at par cheque
• Free internet and mobile banking facility
• Fund transfer facility through NEFT/RTGS/DD/PO/Inter branch fund transfer will be provided at par
• The account holder will be provided with personalized services across KVB branches
• Free cash remittance and cash withdrawal at base branch
• ATM withdrawal limit is Rs. 50,000 per day
• Issue of international ATM/debit photo card is free
• No annual maintenance charges on ATM card
• No charges on closing the account
• Penalty of Rs. 500 will be charged per month which will be proportionate to the percentage of a shortfall in balance maintained

KVB Senior Citizen Savings

This savings account by Karur Vysya Bank is curated for senior citizens who are above 60 years of age. This account provides all savings account related services to senior citizens. There is no need to maintain minimum balance in this savings account. The account offers free net banking and mobile banking to senior citizens. The account offers below-mentioned features and benefits to senior citizens.

• This account is a zero balance account
• The bank provides high rate of interest on term deposits
• ATM withdrawal limit per day is Rs. 30,000
• The bank provides free 25 cheque leaves a year
• The account holder will get a free debit card

Jumbo Savings for Kids

Jumbo Savings for Kids is a savings account by Karur Vysya Bank designed for children to teach them the importance of savings and financial services from the start. There is no minimum balance to be maintained in this savings account and the account can be opened in the name of the child with the guardian of the child. This account offers below-mentioned features:

• Withdrawals can only be done through ATM
• POS transactions are allowed
• Kids will be given a free jumbo doll at the time of opening the account
• Chequebook will not be provided
• Cash remittance of Rs. 50,000 per day at base branches as well as non-base branches is not chargeable
• Facility of internet and mobile banking is not permitted

The applicant will have to present the below-mentioned documents at the time of opening a savings account in Karur Vysya Bank:

Any of the below-mentioned list of documents are required as an identity proof (any one of the following)

• Aadhaar card
• Passport
• Voter ID
• Driving License
• PAN Card
• NREGA Job Card/Government ID Card (Subject to satisfaction of the bank)

Any of the below-mentioned list of documents are required as an address proof (any one of the following)

• Aadhaar Card
• Passport
• Voter ID
• Driving License
• NREGA Job Card/Government ID Card (Subject to satisfaction of the bank)
• Telephone Bill (Should not be older than two months)
• Electricity Bill (Should not be older than two months)

It is to be noted that the below-mentioned documents are to be presented in case of a minor or senior citizen savings account. Documents verifying the date of birth of the minor or senior citizen should be produced along with above mentioned documents, the account holder needs to present any of the following:

• School leaving certificate
• Insurance policy
• Birth certificate

The applicant should take a note of the following things:

• The applicant is expected to produce original copies of the documents. These copies will be returned upon verification.
• Proof of PAN/Form 60/61 is mandatory for cash deposits of Rs. 50,000 and above
• For minor accounts, copy of the birth certificate should be provided
• All signatures should be done in front of the banking official

Category	Fees and Charges
Re-issuance of debit card	Rs. 300 including GST
Add-on debit card	Rs. 300 including GST
Personalised debit card	Rs. 300 including GST
Debit card hotlisting	Free
Cross currency markup within wallets on conversion rate	2% on conversion rate
Cross currency markup at Visa	3% on conversion rate
Issue of duplicate passbook	Rs. 150 per book Rs. 100 for Senior Citizens, Pensioners, and Individuals in rural areas
Verification of Signature	Rs. 125 Rs. 30 for Senior Citizens, Pensioners, and Individuals in rural areas
Attestation of photograph	Rs. 125 Rs. 30 for Senior Citizens, Pensioners, and Individuals in rural areas
ATM transactions at KVB’s ATM	5 free financial and non-financial transactions, thereafter Rs. 25 per transaction will be charged
ATM transactions at other bank ATMs	For non-metro ATMs: 5 free financial and non-financial transactions, thereafter Rs. 25 per transaction will be charged For metro ATMs: 3 free transactions per month out of the total 5 free transactions, thereafter Rs. 25 per transaction will be charged

Below-mentioned individuals are eligible to open a savings account in Karur Vysya Bank.

• Individuals in single name
• Two or more individuals
• Minors
• Illiterate individuals
• Hindu-undivided families
• Clubs, associations, committees, societies
• Schools, trusts, executors, administrators
• Institutions/Agencies specially permitted by RBI
• Pensioners and staff members

The below-mentioned accounts have additional eligibility criteria as mentioned in the table below:

Type of Account	Eligibility Criteria
KVB Shakthi for Women	Women who are 18 years of age and above
Jumbo Savings for Kids	Children up to the age of 12 years
Prestige Savings Account for HNIs	Individuals having a high net worth

The applicant needs to follow the below-mentioned steps to open a savings account in Karur Vysya Bank online:

Step 1: Click on “Personal”on the Karur Vysya Bank’s official website

Step 2: Click on “Savings Account” and choose the type of savings account you want to open from the given accounts

Step 3: Once you click on the type of savings account you have selected, you will see “Apply Now” option on the right of the page

Step 4: When you click on “Apply Now”, a document asking for your personal details will appear in front of you

Step 5: Provide all your personal details ask asked

Step 6: Upon providing your personal details, tick on the authorization box and provide your consent to the bank to call you back

Step 7: Once you complete the process, the banking official will call you and assist you in opening the account

To open a savings account in Karur Vysya Bank offline, the applicant will have to visit the nearest branch of the bank. Let us find out in the below-mentioned steps how to open an offline savings account in Karur Vysya Bank:

Step 1: Upon visiting the nearest branch of the bank, fill out the savings account application form. Download Karur Vysya Savings Account application form PDF here

Step 2: Provide your basic personal details to the banking official and choose the type of savings account you want to open along with the application form

Step 3: The banking official will also ask for your self-attested Aadhaar and PAN card details

Step 4: Collate all the documents and submit the documents along with the deposit cash slip if you have not applied for a zero balance savings account. In case of a zero balance savings account, there is no need to deposit any cash in the account

Step 5: Once you submit all your details to the bank, the bank will verify the details and open your account upon successful verification

The bank will provide you with a welcome kit which will have all the other documents to help you operate your account further.

Karur Vysya Bank Personal Loan	Karur Vysya Bank Fixed Deposit
Karur Vysya Bank Credit Card	Karur Vysya Bank Mobile Banking
Karur Vysya Bank Net Banking	Karur Vysya Bank Customer Care
Karur Vysya Bank Balance Check	Karur Vysya Bank Mini Statement

Q. Who all can use KVB DLite – Mobile Banking app?
Ans. All customers having a savings/current account, holding a debit card, Aadhaar, internet banking along with registered mobile number with the bank can use this app.

Q. Is it possible to link more than one account with the same mobile number?
Ans. Yes, Karur Vysya Bank allows its customer to link 6 accounts to the same mobile number registered with the bank. The customer will get a separate MMID for each account number.

Q. What should I do if my KVB debit card is lost or stolen?
Ans. If you lose your debit card or if your card gets stolen, you can contact KVB’s helpdesk at 1860 258 1916 or you may write to the bank at customersupport@kvbmail.com.

Q. How can I hotlist my debit card at Karur Vysya Bank?
Ans. To hotlist your debit card, you can send an SMS stating:

KVBCARD XXXX BLOCK to 56161 or 9244770000

XXXX = Last four digits of your debit card

The other ways to hotlist your card are:

• Contact KVB’s helpdesk at 1860 258 1916
• KVB DLite mobile application
• KVB e-book mobile application
• Visit your nearby branch of the bank

Q. What is the validity period of debit card in Karur Vysya Bank?
Ans. The validity of a debit card in Karur Vysya Bank is 8 years. The validity may vary within 8 years subject to date of issuance of debit card to the customer.