Karur Vysya Bank was established in the year 1916 and today’s it is one of the biggest banks in the South of India. Today it has 657 branches and 1652 ATMs across the country.
The banks offer various types of savings accounts to the customers. Here are the features of the types of savings account and its minimum balance requirement and charges :
Regular Saving Account
This account can be opened Single, jointly depending on your requirement. The minimum balance which needs to be maintained in the saving account is Rs 1000 for the account with the Cheque book facility. If you are unable to maintain minimum balance amount then a penalty of Rs 100 plus service tax will be levied.
Basic Savings Bank Account (Kalpatharu Account)
This account can be opened with Zero balance and no charges will be levied for not maintaining the minimum balance in the account.
Jumbo Kids Savings Account
This account is offered for children to inculcate a habit of saving in them since the beginning.It’s a zero balance account so no need to maintain any balance in it.
KVB Shakti Account
This savings account comes with loan and insurance coverage feature too. Minimum monthly balance to be maintained is Rs 5000. Non-maintenance charges are Rs 125 plus tax
Prestige Savings Account
Monthly minimum balance to be maintained Rs.1,00,000/-.A penalty for non-maintenance of minimum amount is Rs 250 per month.
Freedom Saving Account
The Monthly average balance required for this type of account is Rs 5000 and if minimum balance is not maintained charges of Rs 125 plus Service tax are levied.