Organisation : Karur Vysya Bank
Facility : Open your Savings Account
Open your Savings Account here : http://www.kvbsmart.com/kvbaof/kvbaof_index.asp
Website : https://www.kvb.co.in/
Open your Savings Account :
** Fill and Submit required Application Form Details.
** Provide your Know Your Customer [ K Y C ] Documents.
** Our Representative will contact you.
** Get Your Account Opening Kit to Operate your Account.
Related : KVB Get Bank Account Statement Online : www.statusin.in/3974.html
SAVINGS BANK RULES :
1. Savings Accounts can be opened in the names of individuals singly/jointly/with either or survivor options. In case of joint accounts, the maximum number of persons is restricted to four.
2. Customers should provide satisfactory introduction, address and ID proof in order to comply with KYC norms.
3. The account should be properly introduced by the existing account holder having satisfactory dealings for a minimum period of 6 months
4. Self Help Groups (SHGs), Farmer Clubs, Associations, Clubs can open a SB account if they are permitted as per RBI/IBA guidelines.
5. SB account in the name of HUF can be opened provided the HUF is not engaged in trading and business activity. Such SB account should be opened by Kartha only.
6. SB accounts may be opened for the purpose of savings and not for doing any business transactions. The object of the savings bank account is to encourage private individuals to deposit their savings with the bank, allowing them interest on the sums so deposited and at the same time permitting the facility of certain limited withdrawals on demand.
Hence firms/companies are not allowed to open SB account. Transactions of commercial nature are not permitted.
7. The SB account can be opened in the name of minor by a natural guardian i.e. father or mother, in circumstances approved by the bank.
8. Sufficient balance should be maintained in the account at the time of issuing cheques.
9. A minimum balance shall always be maintained in the account. Non-maintenance of minimum balance will attract charges as prescribed from to time.
10. The number of all debit transactions including ATM transactions in all Savings Bank accounts (excluding KVB Prestige, Rainbow SB, Kalapatharu and Grama Jyothi Accounts) is limited to 90 transactions for each half year (excluding system based debits). Where a person has more than one account mapped to a single customer ID, the total number of debit transactions permitted in all such accounts put together will be limited to 90 per half year.
When number of withdrawals is more than the maximum stipulated, a service charge will be levied for each transaction in excess of 90 transactions. The Number and amount of transactions will be restricted as per the rules of the bank governing Savings Bank Deposits from time to time.
11. The minimum amount that can be deposited or withdrawn in a savings bank account shall be not less than `.50/- except in No frills accounts.
12. Charges will be collected on closure of the account.
13. Account opening forms, pay-in-slips will be supplied by the bank free of charge and these forms only should be used.
14. Initially 20 cheque leaves will be issued for all eligible accounts at free of cost. Charges for subsequent issue of cheque books will be based on quarterly average balance (QAB). Requisition slip should be given duly signed by the account holder every time for getting a new cheque book.
15. Issuance of ATM Debit Card is free. Add-on Card will also be issued provided charges will be collected. Annual charges is FREE in case the customers do 10 transactions in POS else fees applicable. No annual fees for Prestige accounts. Card Renewal charges and duplicate card charges will be levied as per Bank Rules from time to time.
16. The cheque issued by the customer to any third party on or after 01.04.2012 will be valid only for 3 months.
17. The pass book will be supplied by the Bank free of charge. For Issue of duplicate pass book / pass sheet additional charges will be collected.
18. Interest is calculated on the balance maintained in the SB account on daily balance method and credited to the account on last working day of every March and September. The rate of interest payable is subject to the directives that may be issued by RBI from time to time.
19. If required by the account holder, outstation cheques / local cheques upto `.15,000/- will be discounted by collecting the regular charges for accounts showing satisfactory transactions.
20. Cheques, drafts and other instruments drawn payable to depositors only will be accepted for collection and drawings against them will not be permitted until they are realized.
The entry of any cheque received for collection will be affected on the date of sending such cheque for clearing with a value date credit. But the amount will be allowed to be withdrawn only after realization of the instrument.