Lakshmi Vilas Bank Savings Account

The bank offers a number of savings accounts options to its customers. One can evaluate, compare and choose the option as per his/her savings needs. Here is the list that has all of them.

Lakshmi Vilas Bank Savings Account	Primary Features
Lakshmi Vilas Savings Bank -SB 301	No restriction on amount or  number of deposits Very nominal minimum balance required
Lakshmi Vilas Bank SAANVI	Specially created for women Free deposits and withdrawals at the base branch
Basic Savings Bank Deposit Account (BSBDA)	Zero balance account Facility of Rupay ATM card
TASC Account	Exclusively for trusts, associations, societies, and clubs Free cash withdrawal at the base branch
Lakshmi Titanium Savings Account	Average monthly minimum balance Rs. 1,00,000/- Free RTGS/NEFT facilities
Lakshmi Corporate Salary Account	No minimum balance required Free cash withdrawal at base branch
Lakshmi Savings Gold	Minimum monthly balance to be maintained at Rs. 10,000/- Free cash withdrawals at Lakshmi Vilas bank ATMs
Lakshmi Savings Star Gold	Minimum monthly balance to be maintained at Rs. 20,000/- No limit for  cash withdrawals at the base branch
Lakshmi Savings Balance Free	Zero balance account Unlimited cash withdrawals at the base branch
Lakshmi Savings Youth Power	Minimum balance Rs. 100/- Unlimited cash withdrawals at the base branch

1: Lakshmi Vilas Savings Bank- SB 301

This account is meant for starters who have just got into the habit of savings and the facilities provided serve the purpose of promoting this habit well.

Particulars	Details
Minimum Deposit	Rs. 1000 for Rural Rs. 3000 for Semi-Urban Rs. 5000 for Urban and Metro Branches
Passbook	Yes, available
Standing Instructions	Yes, available
Nomination Facility	Yes, available
Eligibility	The account can be opened singly or jointly by individuals. Even guardians/parents can open an account on the behalf of a minor of age  12 or more years. Apart from this, trusts, societies, clubs, institutions, etc. can open this account in the bank.

2: Lakshmi Vilas Bank SAANVI

This account is in a class by itself where women can open accounts individually or jointly. The purpose is to empower women and promote the habit of savings.

Particulars	Details
Average Quarterly Balance	Metro and Urban: Rs 5,000 Semi-Urban and Rural: Rs 3,000
ATM Debit Card	RuPay Platinum International Debit Card, free for first year and chargeable to Rs. 100/- thereafter
ATM Transactions	Unlimited at LVB ATMs
Internet and Mobile Banking	Yes, available
Eligibility	Only for women. The age should be at least 18 years and above. No age limit for joint account holders

3: Basic Savings Bank Deposit Account (BSBDA)

If you want to avail all the basic features without wanting to invest too much, this is the account for you. Take a look at the features.

Particulars	Details
Minimum Balance Requirements	Zero balance account
ATM Debit Card	Free Rupay ATM cum smart card
Total Withdrawals and deposits	4 withdrawals in a month, including ATM withdrawals; no limit on deposits
Internet banking	Not available
Eligibility	Only 18 and above individuals can apply

One notable point is that an individual cannot open any other savings account with the bank if he or she is applying for Basic Savings Bank Deposit Account. In case they already have any at the time of applying for this savings account, they have to close the same within a month from the date on which their BSBDA has been activated.

4:  Current Accounts & Savings Accounts TASC Account

Specifically meant for societies, clubs, associations, and trusts, it is further bifurcated into three more accounts to narrow down for more personalized services.

Particulars	LVB TASC SB  / CA Account	Lakshmi Prime TASC SB / CA Account	Lakshmi Premium TASC SB / CA Account
Average Quarterly Balance CA/SA	Rs. 10,000/-	Rs. 1 lakh/-	Rs. 5 lakh/-
Salary Account	Yes, available	Yes, available	Yes, available
Withdrawals	Unlimited cash withdrawals at the base branch free of cost	Unlimited cash withdrawals at the base branch free of cost	Unlimited cash withdrawals at the base branch free of cost
NEFT, RTGS charges	yes	zero	zero
Eligibility	Savings or Current Account for entities and non-profit organizations registered as Trusts, Associations, Societies, Clubs, etc.

5: Lakshmi Titanium Savings Account

Particulars	Details
Average Monthly Minimum Balance	Rs. 1 Lakh
ATM Debit Card	Free Visa Gold Card for the first year
Locker Facility	Available with 25% discount on the annual fee
NEFT, RTGS and Net Banking	Free
Eligibility	Indian residents of age between 18 to 70 years. *

*Individuals who are below 18 or above 70 should provide a special declaration letter for understanding the non-availability of “Personal Accidental Insurance Cover”

6: Lakshmi Corporate Salary Account

Particulars	Details
Average Monthly Minimum Balance	No minimum balance requirements
ATM Debit Card	Visa classic card: If monthly salary is up to Rs. 50000 Visa gold card: If monthly salary is Rs.50,000 and above (Free for first year)
Insurance Facility	Free personal accidental (death risk) of Rs. 2 Lakh (renewable every year)
NEFT, RTGS and Net Banking	Free
Eligibility	Minimum number of accounts to be opened – 7 Monthly salary of the employee should be Rs, 15000 and above Age should be between 18 to 70 years

7: Lakshmi Savings Gold

Particulars	Details
Average Monthly Minimum Balance	Rs. 10000 and above
ATM Debit Card	Free VISA international debit card (free for the first year)
Insurance Facility	Free personal accidental (death risk) of Rs. 1 Lakh (renewable every year) for the first account holder
Net Banking Facility	Free
Eligibility	Age of the applicant should be between 17 to 80 years

8: Lakshmi Savings Star Gold

Particulars	Details
Average Monthly Minimum Balance	Rs. 20000 and above
ATM Debit Card	Free VISA international debit card (free for the first year)
Insurance Facility	Free personal accidental (death risk) of Rs. 2 Lakh (renewable every year) for the first account holder
Net Banking	Free
Eligibility	Age of the applicant should be between 17 to 80 years

9: Lakshmi Savings Balance Free

This account is chiefly apt for salaried people for the extra benefits it yields.

Particulars	Details
Minimum Balance Requirements	Zero balance account
ATM Debit Card	Free VISA international debit card (free for the first year)
ATM Withdrawal Limit	Rs. 25000 per day
Internet Banking	Free
Eligibility	Applicant’s employer firm should have an account  with the bank

10: Lakshmi Savings Youth Power

Only young individuals of age between 12 to 24 are eligible to open this account that has a very nominal Rs. 100/- as the minimum balance.

Particulars	Details
Minimum Balance Requirements	Rs. 100
ATM Debit Card	Visa international debit card free of cost for the first year
ATM Withdrawal Limit	Rs. 5000 per day
Internet Banking	Available  for account holders age 18 years and above
Eligibility	Applicant must be between the age of 12 and 24 years

Following are the documents asked by the bank to open a savings account:

Proof of ID

• PAN card
• Aadhaar card
• Voter ID
• Passport
• Driving license, etc.

Proof of Address

• Aadhaar card
• Voter ID
• Utility bills (electricity, water, telephone, and gas)
• Ration card
• Bank account statement
• Passport
• Driving license, etc.

Proof of Age

• School/college certificate
• Birth certificate
• Passport

Apart from these, an applicant will require to submit his recent passport size photographs as well.

Visit your nearest branch of Lakshmi Vilas Bank along with an account opening application form, KYC documents, recent photographs and other related documents (if required). Fill out the details in the form and submit it with self-attested documents. You will be notified after the verification process for account activation. After that, you can use your account for fund transfer, bill payments, and other banking and financial activities.