Student Savings Account
As a student you now have an opportunity to open your own savings account with KVB and plan for a better future. The account opening process is simple; all you need to do is ask an existing KVB account holder or the head of the educational institution where you are studying, to introduce you to the bank.
- Free use KVB ATMs and 5 transactions free in the ATMs under VISA and NFS cluster
- Top-up facility for your mobile phone at any KVB ATM subject to charges applicable from time to time
- Periodic e-statement of accounts as per your requirement
- You can receive credits through a standing instruction given by your parent to the bank
- The number of all debit transactions including ATM transactions in the account will be limited to 90 transactions for each half year for all the accounts mapped to a single customer ID put together.
- A service charge of Rs.2/- inclusive of service tax will be levied for each transaction in excess of 90 transactions.
|Charges and Limits|
|Maximum Age limit||23 years|
|Minimum Balance||Rs. 250/-|
|Eligibility to open account||Can open an account in the student’s own name.
The names of the parents can also be added either as joint or E or S holders at their option
|For 12 years and over|
|For Below 12 years||Can be opened in the student’s own name jointly with their parent’s name. But the account can be operated only by the parent. On attaining 12 years of age, they will be permitted to operate the account in their own name.|
|Non-maintenance of minimum balance||Charges, as applicable from time to time will be levied.|
|Issue of cheque book||A cheque book is permitted only to those account holders who have attained 18 years of age.|
|Issue of VISA Debit Card||For account holders aged 12 or above, the card will be issued in their own name.
For account holders aged below 12, the card will be issued in the name of their parent.
The card will be issued free of cost. From the end of the first year, AMC charges of Rs. 75/- will be levied.
|Cash Remittances||Cash can be remitted at base branch. At non base branch, cash can be remitted upto a maximum limit of Rs. 10,000/- p.m., free of service charges. For remittances exceeding this, charges applicable from time to time will be levied.|
KYC Documents for opening an AccountService Charges