Karur Vysya Bank Limited

Karur Vysya Bank offers savings account options that suits every segment of the society. Read on to know more about the services offered by the bank: 

• KVB Shakthi for Women: This is a unique savings account specially designed for women and provides multiple benefits like insurance coverage and loan component. Other than that, with his account, the user gets free debit card, internet banking facility, free cheque book (25 leaves annually) and free Demat account (in first year). The minimum balance requirement for this account is Rs.5000. 
• Jumbo Savings for Kids: This savings account offered by Karur Vysya bank is specially designed for kids. This account can be opened by the parent or guardian on behalf of the child and has no minimum balance requirement. The child should be minimum 12 years of age to be eligible for this type of account. 
• Freedom Savings for Professionals: This type of savings account offered by the Karur Vysya bank offers the user with multiple technological benefits like standing instructions to Manimala deposit scheme, mobile banking facility, free debit card, account statements on email, etc. The account holder needs to maintain a minimum balance of Rs.5000 or needs to pay Rs.250 non-maintenance charges. 
• Student Savings Account: The student savings account offered by Karur Vysya bank does not require the user to maintain any minimum balance. The account holder should be a minimum of 29 years of age to be eligible for this type of account. Other than that, the holder gets benefits like a free debit card, internet banking facility, e-statement of accounts, etc. 

Deposits: 

Some of the deposits offered by the Karur Vysya bank are as follows: 

• Double Delight: The ‘Double Delight’ deposit offered by the Karur Vysya bank is a unique product that allows the investor to make odd-sum investments and get round sums of maturity with free insurance coverage. The tenure of this deposit is minimum 12 months up to 10 years. The holder can avail of a loan against this type of deposit. 
• Fixed Deposits: Karur Vysya bank offers fixed deposit for a minimum period of 7 days up to 10 years. The interest for this type of deposit is paid on monthly, quarterly or half-yearly basis. The holder can avail of a loan against this type of deposit and premature withdrawal of this deposit is allowed. Nomination facility is also available. 
• Reinvestment Plan: The reinvestment plan offered by KVB is a long-term investment plan and is also known as ‘Tirumagal Tirumana Thittam (TTT). The minimum booking period for the deposit is six months up to 10 years. The minimum investment amount for this scheme is Rs.100. Other than that, premature withdrawal of this deposit is allowed and nomination facility is available. The holder can also avail of a loan against this fixed deposit. 
• Senior Citizen Deposits: This deposit is specially designed for senior citizens having minimum 60 years of age. The holder can avail of a loan against this type of deposit and premature withdrawal of this deposit is allowed. Nomination facility is also available. 

Cards: 

Karur Vysya Bank offers various credit and debit cards, read on to know more about them: 

• KVB Platinum Credit Card: This credit card offered by KVB is designed to meet general expenses. Other than that, this credit card offers benefits like contactless transactions, balance transfers, EMI conversions, two reward points of every Rs.150 spent and much more. 
• KVB Honour Credit Card: This credit card comes with an annual fee of Rs.1299 and offers various benefits like contactless transactions, up to four complimentary airport lounge access, EMI conversions, balance transfers, rewards and much more.  
• KVB Corporate Credit Card: This card is available at zero joining fees and is designed for corporate expenses under corporate liability. With this card, the user gets benefits like waived-off fuel surcharge, 2 reward points on every Rs.100 spent, up to two complimentary domestic airport lounge access, etc. 
• Prestige Debit Card: KVB offers Prestige debit card specifically to account holders and is designed for high-net worth customers. This card comes with EVM chip, allows daily ATM withdrawal of up to Rs.50,000 and has zero annual maintenance charges. 
• Pride Platinum Debit Card: This card is issued to high-net worth individuals and has daily transaction limit of up to Rs.1.50 lakh. With this card, the user gets benefits personal accident insurance coverage of Rs.5 lakh, free airport lounge access, dining and spa benefits, etc. 

Loans: 

The loan products offered by Karur Vysya bank are as follows: 

• Insta Loan: The Insta Loan offered by KVB is a type of personal loan for permanent employees with minimum service span of two years. No collateral is required to avail this loan and has a maximum repayment tenure of 72 months.  
• Happy Home Loan: This loan is designed for Indian residents and comes with no prepayment charges. The maximum repayment tenure of this loan is 25 years and the entire loan processing is paperless. 
• Quick Loan: This loan is designed to meet any business or personal needs and can be repaid fully or in installments. The maximum quantum of this loan is Rs.25 lakh at a processing charge of Rs.500 and no collateral is required. 
• Flexi Mobile Car Loan: This is a digital loan designed to purchase new or second-hand car (not more than five years old) and allows the borrower to avail 100% on-road funding. The repayment period is of seven years for this loan. 
• KVB Ghruhapravesh for NRI: This loan scheme offered by KVB is specifically deisgned for NRIs with a repayment tenure of 25 years. The minimum age criteria to avail this loan is 23 years and requires the borrower to be employed abroad for at least two years. 

Insurance:  

Some of the insurance products offered by KVB are as follows: 

• Savings with Protection Plan: KVB in collaboration with Aditya Birla Sunlife Insurance Co. Ltd. offers protection cum savings insurance plan This is a comprehensive life insurance plan that provides coverage till age 100. Other than that, this plan also offers tax benefits under Section 80C of the Income Tax Act and rider options at nominal cost for added protection. 
• Health Insurance Plan: KVB offers health insurance plan in collaboration with Niva Bupa. This plan is designed to cater various needs of the customers. 

Investments: 

The investment options offered by Karur Vysya bank are as listed below: 

• Mutual Funds: Karur Vysya bank has collaborated with multiple asset management companies like LIC mutual fund, UTI mutual fund, Aditya mutual fund, Franklin Templeton mutual fund, etc. to offer mutual fund services to its customers.  
• Demat Account: KVB also offers its customers Demat account facility. Through this Demat account, customers can easily subscribe for IPOs without parting their money. 
• Sovereign Gold Bond (SGB): You can apply for SGB with Karur Vysya bank and earn an additional rate of interest of 2.50% on initial investment. These bonds can also be used as a collateral while availing loan and is free from hassle of storing gold physically. The minimum tenure of these bonds is eight years.