Table of Contents
About Lakshmi Vilas Bank
With the vision to emerge as a sound and dynamic banking entity, Lakshmi Vilas Bank was incorporated on November 3, 1926. It was founded by a group of seven businessmen of Karur under the leadership of V.S.N. Ramalinga Chettiar. The objective behind the establishment of bank was to satiate the banking and financial need of the people in and around Karur who were induged in trading, industrial and agricultural activities. Now, the bank has expanded its area of function and provides services throughout the country. It has a considerable number of branches and ATMs within the geographical region of India. The bank has gained great heights by delivering quality services. It has expanded its scale of operation to match the diverse requirement of the people. It attained the status of Authorized dealer in foreign exchange in 1976. This enabled it to provide full range of services to customers engaged in international trade and to overseas travellers. The bank also introduced mechanization in the administrative offices. It began data processing and computerization as early as 1993. It even implemented Core Banking Solution (CBS) in October 2006, and by 2008 all the bank’s branches were migrated to CBS.
Address of Lakshmi Vilas Bank Branches in Bhubaneswar
The complete address, IFSC Code, MICR Code and customer care details of Lakshmi Vilas Bank branches located in Bhubaneswar is mentioned in the table below:
|Branch Name||Complete Address||IFSC Code||MICR Code||Contact Number|
|Bhubaneshwar||Plot No. 622 - B, Janpath, Saheed Nagar, Bhubaneshwar – 751007, Orissa||LAVB0000160||751056002||0674-2541257|
Products Offered by Lakshmi Vilas Bank in Bhubaneswar
Lakshmi Vilas Bank renders a wide variety of banking products and services in the city of Bhubaneswar to help the residents overcome their financial troubles. 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 information of the products is given in the table below:
Table showing Product eligibility criteria, interest rate, processing fee and tenure
|Product Name||Eligibility Criteria||Amount||Interest Rate||Processing Fee||Tenure|
|Home Loan||Individuals and HUFs having decent income and able to present proof||Customized||9.90%||As per bank’s norm||Up to 20 years|
|Car Loan||Salaried 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 Property||Individuals 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 Loan||Well established business entities earning profit||Customized||10.60% - 13.10% p.a.||As per bank’s norm||Up to 7 years|
|Gold Loan||Individuals and business entities||₹ 50,000 to ₹ 50,00,000||9.85% p.a. -10.10% p.a.||0.50% of the loan amount, subject to minimum of ₹ 100||Continuation of facility based on annual review|
|Education Loan||The 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.|
|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 Deposit||An individual either solely or jointly |
A minor jointly with a major
Joint Stock Company
Societies & Corporates
|Minimum - ₹ 100|
Maximum - No Ceiling
|4.50% - 8.10%||-||15 days to 10 years|
The list of documents required to avail the benefit of the financial products are given below:
|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 Loan||Application 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
Income Proof - Salary slips for last 3 months, ITR/ Form 16 for last 3 years, Latest Income Tax Return
Bank Account Statements
|Car Loan||Duly filled Application form|
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 Property||Application 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 Loan||Proof 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 Loan||For 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.
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 Deposit||Proof 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