Lakshmi Vilas Bank Ahmedabad

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About Lakshmi Vilas Bank

Incorporated on November 3, 1926, Lakshmi Vilas Bank was founded by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. The objective behind starting the bank was to cater the financial needs of people in and around Karur who were occupied in trading businesses, industry and agriculture. The bank obtained its banking license from Reserve Bank of India on 19 June 1958 and on 11 August 1958, it became a scheduled commercial bank. It extended its network of branches when the bank took over nine other banks during the period of 1961-1965. Currently, the bank has Pan India presence and has a considerable number of branches spread all over the country. The bank has witnessed substantial improvement across all business parameters in the six quarters. It has contributed significantly to the banking industry. It has benchmarked the operating standards continuously with the best practices in the industry. The bank delivers its best so as to ensure that the customers always receive services with high level of satisfaction. It renders personalized services to enhance the banking experience of the customers. Also, the bank has implemented the latest technology and modern ways to walk hand-in-hand with the changing economy.


Address of Lakshmi Vilas Bank Branches in Ahmedabad

The complete address, IFSC Code, MICR Code and customer care details of Lakshmi Vilas Bank branches located in Ahmedabad is mentioned in the table below:

Branch Name
Complete AddressIFSC CodeMICR CodeContact Number
Ahmedabad

I Floor, Blue Star Complex Near High Court Railway Crossing, Navrangpura Ahmedabad - 380014 , GujaratLAVB0000114380056002079 - 26430787

Products Offered by Lakshmi Vilas Bank in Ahmedabad

Lakshmi Vilas Bank provides a wide array of banking products and services to turn a consumer’s experience into fruitful one. It offers multiple products under the section of loans and deposits to help the customers overcome their financial grievances. Through it’s nationalized presence it caters the needs of all citizens of the country. Even in the city of Ahmedabad, the bank provides a range of products that includes home loan, car loan, loan against property, business loan, gold loan, education loan, fixed deposits and assists people in prudent wealth management. The customers can avail the benefit of these products as per their requirement. The necessary details of the products are mentioned in the table below:

Table showing Product eligibility criteria, interest rate, processing fee and tenure

Product NameEligibility CriteriaAmount Interest RateProcessing FeeTenure
Home Loan Individuals and HUFs having decent income and able to present proofCustomized9.40%As per bank’s normUp to 20 years
Car LoanSalaried persons who are permanent employees of State / Central Government, Public Sector Undertakings / Corporations, Private Sector Companies of repute, Reputed Establishments or Professionals.
Self-employed persons, Businessmen & Agriculturists.
Maximum age of the borrower should not exceed 65 years on the maturity date of the loan.
The minimum annual income of borrower should be ₹ 1,20,000.
Customized
9.65% - 12.40%As per bank’s norm
Up to 6 years
Loan Against PropertyIndividuals including salaried, self-employed and agriculturist.
Proprietary concerns, Partnership Firms, Private/ Public Limited Companies, Deemed Limited Companies.
The minimum age of the applicant should be 21 years.
The maximum age of the salaried individual should not exceed 60 years while for others the maximum age limit is 65 years at the time of loan maturity.
Customized
12% p.a.As per bank’s norm
Up to 10 years
Business LoanWell established business entities earning profit
Customized
10.60% - 13.10% p.a.As per bank’s norm
Up to 7 years
Gold LoanIndividuals and business entities₹ 50,000 to ₹ 50,00,0009.85% p.a. -10.10% p.a.0.50% of the loan amount, subject to minimum of ₹ 100Continuation of facility based on annual review
Education LoanThe student should have secured admission to professional/ technical courses in India or abroad through entrance test/merit based selection process after completion of high school.
Eligible Courses:

For studiesin India: ₹ 10 lacs
For studies in abroad: ₹ 20 lacs
Girls - Upto 12.60% p.a.
Boys - Up to 12.85% p.a.
Nil
Up to 15 years
Fixed DepositAn individual either solely or jointly
A minor jointly with a major
HUF
Joint Stock Company
Professionals
Partnerships Firms
Companies
Clubs
Societies & Corporates
Minimum - ₹ 100
Maximum - No Ceiling
4.50% - 7.50%
-15 days to 10 years

Documents Required:

The list of documents required to avail the benefit of the financial products are given below:

Product NameDocuments
Home Loan Proof of identity (photocopies of Voters ID card/ Passport/ Driving
licence/ IT PAN card)
Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill/
Property tax receipt/ Passport/ Voters ID card)
Proof of Income - Original Salary Certificate from employer, TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt., Acknowledged copies of three years I.T. returns/ Assessment Orders, Photocopies of challans evidencing payment of Advance Income Tax
Proof of business address for non-salaried individuals
Statement of Bank Account/ Pass Book for last six months
Signature identification from present bankers
Personal Assets and Liabilities statement
Personal LoanApplication Form
1 Latest Photograph
Identity Proof - Passport/ PAN Card/ Voters ID card/ Driving License etc
Residence Proof - Ration card/Driving License/Voters ID card/ Passport / Telephone Bill/ Electricity bill/Life Insurance policy
Age Proof - Passport, PAN Card or Any Other Certificate from Statutory Authority
Signature Proof
Ownership Proof
Income Proof - Salary slips for last 3 months, ITR/ Form 16 for last 3 years, Latest Income Tax Return
Bank Account Statements
Car LoanDuly filled Application form
Photograph
Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
Income Proof: Latest salary slip with Form 16./ Income Tax Returns of 2 previous financial years
Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
Signature Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Salary Bank Statement/ Business Bank Statement
P&L A / C and B / S for the last 2 years certified by CA by Non-Salaried
Loan Against PropertyApplication form
Financial Statements/ Bank Statement
Address Proof: Ration card/ Driving licence/ Voters card/ Passport copy/ Telephone bill/ electricity bill/Life insurance policy PAN Card
Age Proof - Passport, PAN Card or Any Other Certificate from Statutory Authority
Copy of Sales Tax / VAT / any other Tax Registration if applicable
Details of Property offered along with the latest valuation
Business LoanProof of Identity: Voter’s ID Card/ Passport/ Driving License/ PAN Card/ Signature identification from present bankers of proprietor, partner of director (if a company)
Proof of residence: Recent telephone bills, electricity bill, property tax receipt /Passport/ Voter’s ID Card of Proprietor, partner of Director
(if a company)
I.T.R., 2 Years, Balance Sheet and Profit & Loss Account
Proof of ownership of Residential or Commercial Property (including Parental Property) in select locations
Latest 6 months Bank statement of Business
Gold LoanFor Kotak customers: Latest address proof (only if the address of the customer has changed)
For non-Kotak customers: Identity Proof, Address Proof, Signature Proof (KYC Documents) and 3 passport size photographs
Education Loan Application form & appraisal form as prescribed in our circular instructions.
Certified copy of admission letter issued by the college/university/ institute.
Certified copies of relevant past academic records, including mark sheets, examination/degree/ diploma certificates, etc.
Copies of prospectus, syllabus and full details of course of study along with details of tuition fee & other fees payable.
Testimonials from two professors/ teachers of the college/school last studied.
Copy of IT/WT assessment orders of the parent/grandparent/ guardian, if an assessee. If the student himself is an assessee, then copies of the latest IT/WT assessment order pertaining to his income/wealth.
Form 111 of the parent/guardian / grandparent/student.
Legal opinion and valuation report on the property offered as collateral security.
In the case of students going abroad, besides the above, copies of the Passport, Visa, details of scholarships/assistance if any and the necessary evidence of admission to the institution abroad, etc. to be obtained and verified with the originals.
Stamped forms:
a. F. No: 600 (A)- Demand Promissory Note
b. F.No.83 (R) - Letter of undertaking for repayment of instalment.
c. F. No. 451-Letter of authority.
d. F. No. 353- Educational term loan agreement (Stamped form)
e. F.No.200 (R) - Letter of Guarantee (Stamped form).
f. F.71 – Memorandum of deposit of title deeds.
Fixed DepositProof of Identity - Passport, Voter ID card, Driving license, PAN card, Government department ID card
Proof of Residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement

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