Karnataka Vikas Grameena Bank is a regional rural bank that was established in the year 2005. It was formed after the amalgamation of four regional rural banks. The bank has over 600 branches in various rural regions of Karnataka and is catering to the banking needs of people in an outstanding manner.
The bank is currently providing a rate of interest of 4% per annum to the saving account holders.
If you are having Karnataka Vikas Grameena Bank saving account then here you will learn about the minimum balance limit and charges for non compliance.
Minimum balance limit for Karnataka Vikas Grameena Bank Saving Account
Here is the Karnataka Vikas Grameena Bank Saving Account Minimum Balance Limit-
- With cheque book facility the minimum balance limit is 1000 rupees in urban branches.
- With cheque book facility in semi urban and rural regions the minimum balance limit is 500 rupees.
- Without the cheque book facility the minimum limit is 500 rupees in urban branches.
- Without the cheque book facility in semi urban and rural regions the minimum limit is 100 rupees.
Thus based on the location and cheque book facility, you can assess the minimum balance limit required to keep the saving account operative.
Charges for non maintenance of minimum balance
For all types of saving account the penalty for non maintenance of minimum balance is 30 rupees plus the service taxes. The calculation of penalty will be done on a monthly basis.
You can access complete details via link http://www.kvgbank.com/savings-bank-account/.