Para banking Disclosures

As per RBI Circular, RBI/2009-10/225 dated November 16th, 2009, following are the details of commission percentage earned by The Karur Vysya Bank Ltd.

(1) From the General Insurance (Non-Life) product distribution:-

(% of Net effective Premium)

Product Category Commission
Motor 10%
Health 15%
Property 10%
Marine & Hull 10%
Others 15%

(2) From the Life Insurance product distribution:-

Premium Payment Term Commission *
1 year 0% - 2%
3 years – 5 years 8% - 10%
10 years – 20 years 10% - 20%
Marine & Hull 20% - 35%
Renewal Year Commission
2nd & 3rd Year Renewal 5% - 7.50 %
4th year onwards 4% - 5%
Top Up 2%

(*) The commission rate differs from product to product and term to term as a percentage of net premium.

KVB could also get reimbursement towards promotion and marketing related activities conducted by the KVB on behalf of Insurance companies. These reimbursements are event-based and the same may or may not be received by the bank from insurers in a particular period. This reimbursement amount cannot be attributed to any specific scheme being offered by insurers.

(3) From the Mutual Fund product distribution:-

Fund Schemes Upfront Brokerage/Upfront Commission Trail year 1 Trail year 2 onwards
Equity and Balanced 0% to 1.25% 0% to 1% 0% to 1%
Index 0% to 1% 0% to 0.75% 0% to 0.50%
ELSS 0% to 2.75% 0% to 0.75% 0% to 0.75%
Asset Allocation 0% to 1.25% 0% to 0.75% 0% to 0.50%
Arbitrage Funds 0% to 0.80% 0% to 0.80% 0% to 0.50%
Monthly Income Plans 0% to 1.5% 0% to 1% 0% to 0.60%
Gilt 0% to 1% 0% to 1% 0.10% to 0.60%
Income 0% to 1.25% 0% to 1.25% 0.05% to 1%
Short Term 0% to 0.05% 0% to 0.60% 0.1% to 0.5%
Liquid & Floating Rate 0% to 0.05% 0% to 0.55% 0% to 0.40%

This is on a best effort basis and rates are updated as and when it is changed by the partners.

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