Karur Vysya Bank Savings Account

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Karur Vysya Bank Savings Account

A savings account is the most basic kind of bank account that offers a nominal interest rate. It is very easy to open and operate a savings account. Most people open a savings account as a safe and convenient way of storing money.

There are different types of savings account for different needs and it is best to check the various account offerings to decide which one suits you the best. Banks also offer zero-balance savings accounts for those who want just basic banking facilities without having to keep a minimum balance, or for those who belong below poverty line. There are several benefits attached to a savings account. Following are a few:

  • There are different kinds of savings accounts for different needs—ability to choose as per your requirements!
  • Accessibility and liquidity: You can access your money at any given point of time through your bank, or ATM. This is also one of the most liquid forms of investment.
  • You can deposit and withdraw money from a savings account subject to a few minor restrictions, depending on the type of account. This lets of keep a track of all your expenses as well, via bank statements.
  • The money in your savings account doesn’t sit idle, it grows, with banks offering interest. While you earn less interest in a savings account as compared to an FD or RD account, you also have far greater freedom in operating the account. liquidity and accessibility are the prime advantages.
  • Make bill payments with ease with net banking, mobile banking, etc.
  • Transferring funds with ease: You can transfer funds and conduct various banking transactions with a single click with a savings account.
  • Safety: Your cash is stored safely and securely
  • Requires minimal documentation

As it is said, there are two side to a coin. There are some disadvantages as well.

  • There are various fees associated with a savings account.
  • You need to maintain a specific balance each month in order to avoid penalties. The minimum balance required, interest rate and fees and charges vary from bank to bank and the type of account opened.
  • The interest is far lower when compared to other forms of savings and offers low returns.

Even with the downsides, a savings account is popular with the old and the young, as it provides easy access to money in times of need and inculcates a habit of saving.

Karur Vysya Bank Savings Account

A Karur Vysya Bank savings account provides a host of banking benefits like flexible easy accounts management, along with a competitive interest rate. You can make quick utility bill payments via NetBanking, and enjoy various features in convenience banking with a Karur Vysya Bank Savings Account.

Features and Benefits of a Karur Vysya Bank Savings Account

There are various benefits to having a savings account with Karur Vysya Bank:

  • Safety and security when you store your cash in a savings account
  • Different savings account for different needs.
  • Access your account with ease via Internet Banking / SMS Bank / Phone Banking

Types of Karur Vysya Bank Savings Accounts

Below are a few of the different savings accounts available. For the full list of savings accounts options, check the bank website or visit the nearest branch.

Regular savings Account

  • Can be opened in the names of individuals singly / jointly / with either or survivor options
  • VISA Debit cards, Internet Banking, Mobile Banking facilities are available.
  • Nomination facility available
  • Free 20 cheque leaves per annum.

Shakthi Account

  • Savings portfolio is coupled with loan component and insurance coverage
  • Free Cheque book of 60 leaves per year
  • Free Anywhere Banking, Net Banking and Mobile Banking
  • DD/PO/RTGS/NEFT: Free limit of upto Rs.1,00,000/- per month
  • Free accidental death insurance cover of Rs.1.00 lakh
  • Free Debit/ATM card for the first year

Jumbo Kids Saving Account

  • Eligibility: Children up to the age of 12 years
  • Account opened in the name of the child with the natural guardian as the authorized signatory
  • No minimum balance requirement
  • Free Visa backed ATM Card
  • Free attractive Jumbo Doll

Prestige Savings Account

  • Free Personalized at par cheques
  • Cash remittance at non-base branches up to Rs. 10 lakhs per month
  • Free Internet and Mobile Banking
  • International VISA Debit card with enhanced withdrawal limit of Rs. 50000.

Freedom Saving Account

  • Cheque Book with 40 leaves free p.a.
  • Debit Card with your account
  • Net Banking for all transactions
  • Mobile Banking credit and debit alerts
  • Free use KVB ATMs and 5 transactions free in the ATMs under VISA and NFS cluster
  • Monthly statement of accounts – hard Copy

Students Saving Account

  • Free use KVB ATMs and 5 transactions free in the ATMs under VISA and NFS cluster
  • Top-up facility for your mobile phone at any KVB ATM subject to charges applicable from time to time
  • Periodic e-statement of accounts as per your requirement

Karur Vysya Bank Savings Account Minimum Balance

The minimum balance required in a Karur Vysya Bank savings account differs with each kind of account. It is advisable to contact the bank directly for details. Following is an overview:

Type of Savings Account Average Monthly Balance Required
Shakthi Account Rs. 5,000
Regular savings Account Nil
Jumbo Kids Saving Account Nil
Prestige Savings Account Rs. 1,00,000
Freedom Saving Account Rs. 5000
Students Saving Account Min Bal: Rs. 250

Karur Vysya Bank Savings Account Interest Rate

Karur Vysya Bank savings account comes with interest rates of 4%, depending on the daily balance, and the type of account. Do keep in mind that the rates are subject to change at the sole discretion of the bank. It is advisable to check with the Bank for accurate rates.

Karur Vysya Bank Savings Account Charges

Different Karur Vysya Bank savings accounts have a different schedule of charges. It is best to contact the bank directly for the most up to date charges.

How to open a Karur Vysya Bank Savings Account

Karur Vysya Bank Savings Account is easy and hassle-free.

-You can visit your nearest branch and have a customer care representative help you with the forms. You can talk to the representative about your saving needs and open an account accordingly.

-You can fill and submit required application form details online and provide your KYC documents. A KVB executive will get in touch with you, and your account will be opened subsequently post successful compliance of the KYC norms.

Karur Vysya Bank Savings Account FAQS

What is the best interest rate on a Karur Vysya Bank saving account?

The interest rates are currently at 4 %. For the latest interest rates, it is best to contact the nearest branch.

Who is eligible to open a Regular Savings Account with Karur Vysya Bank?

Resident Individuals (sole or joint account), Hindu Undivided Families, Trusts, Associations, Clubs or Societies, and others as specifically permitted by RBI. It can be opened in the names of individuals singly / jointly / with either or survivor options

How do I contact the bank for account opening?

You can contact the bank through the following channels:

  • Submit the Account Opening Form online and wait for a customer representative to get in touch with you.
  • Call the customer care at 1860 200 1916 (call charges applicable).
  • Walk in to your nearest KVB Bank branch. A full list of bank branches is available on the KVB website.

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