Karur Vysya Bank Savings Account

Last Updated : Feb. 19, 2025, 4:33 p.m.

The Karur Vysya Bank (KVB) has over 108 years of history of serving its customers with the best savings and deposit options. Founded in 1916 by Mr. M. A. Venkatarama Chettiar and Mr. Athi Krishna Chettiar to help the traders and farmers of Karur, Tamil Nadu, KVB today is classified by RBI as a scheduled commercial bank. KVB has kept up with modern technologies and today, has a strong national and international presence with over 870 branches and 1572 ATMs for easy banking. In this blog, we will be talking about the Karur Vysya Bank savings account options with Karur Vysya Bank, their benefits, charges, and interest rates.

Karur Vysya Bank Savings Account Interest Rates

Rates of Interest on Savings Accounts are listed below:

Types of Karur Vysya Bank Savings Account

KVB Elite Savings

• Exclusive platinum debit card
• Complimentary airport lounge access
• Exclusive health and wellness memberships

KVB Select Savings

• Digital banking is free and secure
• Free NEFT / IMPS/ RTGS transfers
• Effortless online shopping with DLite Application

KVB Primo Savings

• Attractive exclusive debit card offers
• Exclusive Visa Platinum Debit Cards
• Free digital concierge service on all days including emergency medical assistance and services anywhere in the country
• High ATM/POS limits

KVB Regal SB Account

• Dedicated relationship manager
• Lowest prices on hotels guaranteed through Agoda and Hotels.com
• Infinite dining program
• Complimentary lounge access at 43 airports
• Free upgrades on using car rentals like Hertz Asia and Avis
• Tailored offers on fashion, dining, etc., with Infinite Shopping Boutiques
• Personal Accident Insurance Cover of ₹ 5,00,000/-
• When tickets are purchased through the debit card of the bank, it gives an air accident coverage insurance of ₹ 50,00,000
• ₹ 6,00,000 purchase protection cover
• Lost card covers of ₹ 6,00,000

KVB Royal SB Account

• 24x7 concierge on live chat
• Lost card liability covers of ₹ 8,00,000
• Complimentary room service
• VIP Guest Status and late checkouts
• 10% discount on hotel booking
• 20% discount on immigration services at airports and access to airport limo.
• 50% discount on BookMyShow
• 25% on premium brands
• Personal accident insurance of ₹ 25,00,000/-
• Lost card liability covers of up to ₹ 8,00,000/-

KVB Shakthi for Women

• Free Demat account for first year
• Free 25 leaves chequebook per year
• Free debit card
• Free mobile banking
• Free accidental death insurance of ₹ 1,00.,000
• DD/PO/RTGS/NEFT is free for ₹ 1 Lakh in a month
• Only ₹ 500 processing charge on loans irrespective of the limit

Jumbo Savings for Kids

• For children up to 12 years
• Free Jumbo doll
• Parents can operate the accounts
• Free debit card and no internet banking
• Cash remittance of ₹ 50000 per day only

Prestige Savings for HNIs

• Unlimited DDs and Pay orders
• ₹ 2lakhs accidental death and disability insurance
• Personalized service at all KVB branches
• Free cheque book personalized to the customer
• Hospitalization and treatment for accident ₹ 20,000

Freedom Savings for Professionals

• Free 25 chequebook leaves
• Monthly financial statements will come in email
• 90 free ATM transactions for six months for all accounts
• No extra charge for signing up for a minimal deposit scheme
• Free ₹ 5,00,000 cash remittance at base branch

Student Savings

• Free debit card, internet banking, and mobile banking
• The number of ATM transactions limited to 90 per six months
• Free cheque book to students above the age of 18

Regular Savings

• 25 free cheque leaves per year
• Can be a single joint or an EOS option
• Nomination available
• For customers above the age of sixty, senior citizen rates apply

Rainbow Savings - Sweep In / Sweep Out

• Free accident coverage of ₹ 1 Lakh
• No charges for closing FD for up to 14 days
• Simple interest rates applicable after the 90-day deposit
• Sweep out in the multiple of ₹ 10,000 every month or a fixed portion every Sunday EOD

YuvaShakti Savings for Youth

• No limit to inter-bank funds transfer
• Top up your mobile phone from any KV bank ATM
• No extra charge for Demat accounts
• No extra charges for e-commerce usage
• The number of debit transactions from an ATM are limited to 90 for each half year
• No limit multicity cheque

Salary accounts

• Prestige Salary account for salary above ₹ 50000 per month. The account has no maintenance charges and an ATM transaction limit of ₹ 1,00,000. Other benefits include lounge access no limit cash deposits, and free demat accounts
• KVB Platinum Salary SB Account for salary credit of ₹ 1 Lakh & above. Comes with an exclusive visa signature card, free demat account, accidental death insurance of ₹ 12,00,000, hospitalization and OPD treatment free for first year with coverage of ₹ 25,000, Free ECS & NACH mandate registration charges, Locker discount of 50% for the first year, no folio charges and so much more.
• KVB Diamond Salary SB Account for people earning a salary of ₹ 50,000 - 1 Lakh. Benefits include exclusive Rupay select card, Free Demat, no folio charges 25% discount on locker rentals, free unlimited ATM transactions, free unlimited chequebooks, two lounge access per quarter
• KVB Gold Salary SB Account for net month salary credit of ₹ 25,000 - 50,000/-. Benefits include a Visa Platinum card, no folio charges, accidental insurance in case of death up to ₹ 6,00,000/-, unlimited free DD charges, a 10% locker rental discount
• KVB Regular Salary SB Account for monthly salary up to ₹ 10,000 with benefits in the form of exclusive Visa Classic Card, Free accidental death insurance up to ₹ 1,00,000/-, Unlimited free NEFT/RTGS/IMPS both at branch & online.

KVB Senior Citizen Savings

• Free 25 cheque leaves per year
• Internet banking
• Higher interest rates on deposits
• Free debit card

Karur Vysya Bank Savings Account Features & Benefits

Karur Vysya Bank savings accounts are top of the class because they are completely risk-free methods of investment with

• Attractive interest rates for up to 3.25%
• Consistent savings
• Offers immense liquidity
• Free internet and mobile banking
• Free ATM cards
• Collection of outstation cheques at KVB branch centres
• Up to ₹ 20000 hospitalization and outpatient treatment in case of accident.

Documents Required for Karur Vysya Bank Savings Account

For Opening the account, the following documents/ proof are needed.

• Identity Proof
• Address Proof
• Proof of age

Note: 1. Original and photo copies are to be produced. The original will be returned after verification.

1. Mandatory for cash deposits >= ₹ 50000/-: Proof of PAN / Form 60/61.
2. Minor accounts: A copy of the Birth Certificate should be produced.
3. All signatures are to be affixed in the presence of Bank’s Officials.

Karur Vysya Bank Savings Account Charges & Fee

There are no charges for opening the account however a fee will be charged if the monthly balance is not maintained.

What is the Minimum Balance for Karur Vysya Bank Savings Account?

Minimum Balance (Domestic SB Accounts & Non-Resident)

• KVB Elite: ₹ 50,000/-
• KVB Select: ₹ 10,000/- for Metro, Urban &₹ 7,500/- for Sub-Urban & Rural
• KVB Primo: ₹ 25,000/- for Metro, Urban &₹ 15,000/- for Sub-Urban & Rural
• KVB Regal SB Account: Rs 5,00,000/-
• KVB Royal SB Account: Rs 10,00,000/-
• KVB Shakthi for Women: ₹ 5,000
• Jumbo Savings for Kids: Nil
• Prestige Savings for HNIs: 1 Lakh
• Freedom Savings for Professionals: ₹ 5,000
• Student Savings: Nil
• Rainbow Savings - Sweep In / Sweep Out: ₹ 3000
• YuvaShakti Savings for Youth: ₹ 5000
• Salary accounts: Nil
• KVB Senior Citizen Savings: Nil

How to open a Savings Account in Karur Vysya Bank?

It is quite a simple process both online and offline.

1. You can use the DLite mobile banking account. Select the open a new account option, submit the E-KYC, and start using the account upon verification
2. When using the website, make an online account opening request, fill in the details as asked by the bank, the bank representative will come to collect the documents. You will get a starter welcome kit after the document validation.
3. You can visit the bank branch, complete the formalities, and obtain the starter kit to start transferring money and other transactions.