Savings bank account of vijaya bank

Savings Bank Account of Vijaya Bank

Savings Bank Account ●

Who can open an account:

○ ○

○

○

○

An individual Two or more individuals can start a joint savings account payable to all of them or any one or any of the survivors.

A guardian on behalf of a minor provided the birth certificate is available.

A minor above the age of 12, who can produce the necessary documents; date of birth certificate issued by the concerned authorities. (Max balance for this account is restricted to Rs.10,000/) Authorised officers, managers, secretaires, treasurers of school, religious or charitable institutions or such institutions in their name, giving clear operational instructions and furnishing all the necessary documents.

●

KYC Compliance:

○

The prospective customers/account holders are required to comply to the ‘Know Your Customer (KYC)’ norms by producing any one of the documents for both the address and identity proof.

○

Proof of Identity ■ Passport ■ PAN Card ■ Voter ID Card ■ Driving License ■ Letter from a public servant/public authority verifying the address and identity of the customer; subjected to Bank’s satisfaction.

○

Address proof ■ Telephone Bill ■ Ration Card ■ Electricity Bill ■ Bank Account Statement ■ Letter from recognised public authority ■ Employer letter; subjected to Bank’s satisfaction

●

Minimum Balance:

○

○

For opening & maintaining an SB account: ■ Urban/Metro - Rs.2000 ■ Rural/Semi-urban - Rs.1000 Special category (students/pensioners) ■ Rs.500 for all areas Penalty/Service charge will be levied if the balance falls below the prescribed limit.

●

Restrictions on withdrawals: ○ ○

Maximum withdrawals other than through the ATMs are restricted.

Service charges levied at present when withdrawals exceeds the limit ■ If cheque withdrawals exceeds 50 per calendar year, then charges are: ● Rs.10/- per cheque for non-individuals ● For Individuals ○ Rs.10/- per cheque for non-rural area. ○ Rs.5/- per cheque for rural area.

●

Inoperative Accounts:

○ ○ ○ ○

●

If the account is not operated for more than 24 months, then it will be transferred to ‘Inoperative Account’.

Inoperative accounts with zero balance will be closed and will not be reviewed for bringing the account back to ‘Operative’ status.

‘Anywhere Banking facility’ is barred for this account and it can be operated only at the base branch.

Cheques and credits received on this account in other than base branch will be returned, with the reason “Inoperative Account. Present in base branch” and “Inoperative Account – Credit at the base branch” respectively.

Dormant Accounts: ○ ○ ○ ○

‘Inoperative Account’ which are not operated for more than 36 months will be treated as ‘Dormant Account’.

These accounts are not eligible for operations. However the balance can be claimed by the account holder after providing necessary documents at the base branch.

These accounts attract service charges same as the ‘Inoperative Account’.

These accounts tending to zero balance while collecting service charges/otherwise, will automatically get closed.

●

Types of Savings Bank Account at Vijaya Bank:

○

V Payroll Savings Bank Account

○

V Genuth Savings Bank Account

○

V Balika Savings Bank Account

○

V Platinum Savings Bank Account

○

V Basic SB

○

V Plus Savings Bank Account

V Payroll Savings Bank Account:

●

Focus is on salaried class; working in corporations, institutions , companies, Govt. dept etc.

●

Eligibility: The organization should have a minimum of 10 employees.

●

Average salary requirement: Not less than Rs.5000 per month.

●

Minimum balance: Zero

●

ATM withdrawal limit: Rs.30,000 per day.

●

Processing Fee Waiver: There is no processing charge for V-Cash, V-Wheels and Housing Loans

●

Handling Charges: Cash handling charge is free up to 2 Lakhs per month.

●

Privilege Accounts: Executive of the corporate/company whose minimum salary per month is Rs.50,000 and above will be offered V-Platinum Savings bank Account.

V Genuth Savings Bank Account:

● ●

● ● ●

● ● ●

Students (undergoing various courses) and kids (from age day 1) are eligible for this scheme.

This account scheme can be opened with a minimum initial amount of Rs.10 and can be continued with zero balance.

Upon parent authorization, children above 12 years can get add-on Credit Card and ATM Card.

Cheque books are provided and withdrawal facility is made available for kids above the age of 12.

Transfer of money from Parents account to child’s account is free.

Internet banking facility is provided on request.

Payment of school fees, hostel fees etc is free of transfer fee in this account.

When the balance in this account exceeds Rs.10,000, it is transferred to term deposit account in multiples of Rs.5000.

V Balika Savings Bank Account:

● ● ● ●

This National scheme was launched by the Government of India for providing incentives to girls for Secondary Education The main aim of this scheme is to reduce school drop-outs and also to promote the enrollment of girl child.

Under this scheme, eligible girls will receive Rs.3000 deposited by specific authorities along with the interest upon compliance of the scheme conditions.

There are 2 deposit scheme under this: ○ V-Balika Savings Bank Account: ■ Girl children below the age of 16 under the following categories are eligible to open the account ● All SC/ST girls who have passed class VIII ● All the girls who have passed class VIII from Kasturba Gandhi Balika Vidyalaya (irrespective of whether they belong to SC/ST) ● The girl child should be unmarried. ● The girl child should be enrolled for class IX in state/Union Territory Government, Government aided or local body school.

■ The account can be opened with zero balance and the interest rate is same as the Savings Bank Account. ○ V-Balika Term Deposit Account (VSU Cumulative): ■ After the incentive of the V-Balika Savings Bank account credit is received, the amount is transferred to the V Balika Term Deposit Account.

●

●

Period of Deposit: It is calculated from the date at which the deposit was till the date at which the girl attains the age of 18 years.

Rate of Interest: The interest will be cumulative and it will be the same as the Domestic Term Deposits as on the date of issue of Deposit Receipt.

V Platinum Savings Bank Account: ● Under the scheme, customers who maintain certain minimum balance get add-ons from the bank. ● Some of the highlights of the scheme are: Particulars

Individuals/ HUF

Institutions / Organisations

Maximum Number of free Withdrawal (beyond 50 free withdrawals)

50 transactions p.a.

Free

Cheque book charges

200 Leaves free in a year

Free

Mobile Banking Charges (IMPS)

Free

Free

Net Banking Charges

Free

Free

Monthly e-statement through email.

Free

Free

●

Minimum Quarterly Average Balance to be maintained Category

Individual/HUF

Institutional/Organisation

Metropolitan/Urban

Rs.1,50,000/-

Rs.5,00,000/-

Semi - Urban/Rural

Rs.1,00,000/-

Rs.5,00,000/-

V Basic SB: ● ● ● ● ● ●

V-Basic Savings Bank Deposit Account is for those who comply with the KYC norms.

As per bank guidelines, loans can be extended to this account holder.

This account is opened with initial deposit of Rs.10 and can be continued with zero balance.

RuPay branded debit card is issued free of cost. If PAN is not available, branch can get declaration in Form 60/61 and issue ATM debit card.

There is no charges for non- operation / activation of inoperative account.

Account holder of V-Basic Savings Bank deposit is not eligible for any other savings bank account. In case of any other SB a/c, it should be closed within 30 days of opening this BSB account.

● ●

V-Basic Savings Bank Deposit – Small Account: For those who comply to only the simplified KYC norms Features other than above mentioned conditions are: ○ The total aggregate of all withdrawals and transfers should not exceed Rs.10,000 per month. ○ Account balance should not exceed Rs.50,000 at any point of time. ○ The total credit should not exceed Rs 1 Lakh in a financial year.

V Plus Savings Bank Account: ● ● ● ●

Rs.25,000 is the minimum balance requirement.

Excess amount above the minimum balance is moved into term deposit account in multiples of Rs.10,000.

Whenever the balance goes below the minimum balance prescribed; the remaining money is transferred from the term deposit to the V-Plus SB account.

In case the minimum balance of the V-Plus SB account remains below the minimum balance requirement, then the account will be transferred to ordinary SB account, after closing all VPlus Term Deposits under the account.

VIJAYA BANK • Vijaya Bank is a PAN India Institution, serving diverse sectors of the society • The Bank offers a bouquet of innovative and attractive products and services to its customers. It has also incorporated a host of latest Digital Banking products, to provide the best services to its customers.

Digital Banking services are: 1.

2.

3.

4.

5.

VPAYQWIK Mobile Banking Net Banking Vijaya UPI Twitter banking and many more…

For details, visit: https://www.vijayabank.com

THANK-YOU