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About Karur Vysya Bank Savings Account
Savings bank account deposit is the most basic type of deposit account offered by all banks. Any savings bank account will earn very nominal interest. It is considered as the next best thing to ‘cash in hand’ in terms of accessibility. Individuals may choose to park the excess cash in hand or at home, which may not be required for daily household expenses. The savings bank account’s key features include very nominal interest rate, high flexibility in terms of fund accessibility and withdrawal.
Advantages of Savings Accounts
Disadvantages of Savings Accounts
Karur Vysya Bank savings account offers a range of options, the features are customized as per the client’s requirements. There is a basic eligibility criteria and minimum balance requirement which must be fulfilled by the client to open the required type of savings bank account. Every type of account has its own set of features and benefits.
The types of savings accounts in Karur Vysya Bank are categorized as –
1. KVB Shakthi for Women
KVB Shakthi for Women is a unique savings account product that provides the triple benefits of a savings bank account, loan eligibility and insurance coverage, all rolled into one. This is specifically designed for modern day women.
Features and benefits
2. Jumbo Savings for Kids
Jumbo Savings for Kids is designed for children, the account can be opened in the name of the child below 12 years of age.
3. Prestige Savings for HNIs
This savings account is designed for HNIs (High Networth Individuals), the services can be accessed from any of the network branches of Karur Vysya Bank. The best in class technology is employed to provide superior banking experience for the account holders.
Benefits and Features
4. Freedom Savings for Professionals
Freedom Savings Account is a unique account which is designed to keep money deposited secure while giving the maximum technology benefits at an affordable minimum average balance.
Features and Benefits
5. Student Savings
This is designed for students who intend to use the account for their higher studies. Account opening process is simple; an existing KVB account holder can be the introducer for the student who intends to open the account or the head of the educational institution where the applicant is studying can provide letter of introduction to the bank.
Karur Vysya Bank like all other banks offers the standard set of products and services which includes deposits in the form of savings account, current account, fixed deposit account etc., and loans or advances which includes education loan, personal loan, car loan, loan against property, home loan etc. There are various types of savings account deposit, which can be chosen by the customers based on suitability.
Karur Vysya Bank saving account interest rate is 4% per annum which is calculated on the daily end of the day balance.
1. How to open Karur Vysya Bank savings account?
Fill the savings account eligibility form online, the form once submitted will be checked for eligibility of applicant and personalized savings account options
2. What are the typical interest rates offered by Karur Vysya Bank on their savings account deposits?
The interest rate on Karur Vysya Bank savings account deposits is 4% per annum which is calculated on the daily end of the day balance.
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