Rainbow Savings - Sweep In / Sweep Out

KVB's Rainbow Savings Bank Scheme (RBSB Account) is a perfect blend of all the good features of a Savings Bank Account and a Fixed Deposit Account that offers "High liquidity with maximum returns”.

Terms and Conditions
  • Minimum balance to be maintained in Rainbow SB Account is Rs. 3,000/-. A penalty of Rs. 200/- plus GST will be levied for non-maintenance of minimum balance.
  • Sweep out to FD portion will be only in multiples of Rs. 10,000/- accumulated over the balance of Rs. 1,00,000/- at EOD every Sunday.
  • 90 Days will be the period of deposit. On the date of sweep out, only Simple Interest at the applicable interest rate will be payable.
  • Customers should provide a satisfactory introduction, address and ID proof in order to comply with KYC norms.
  • Closing charges for FD up to 14 days - Nil.
  • If closed within 1 year - Rs. 300/-, If closed at 1 year & after 1 year - Nil (as per BCSBI guidelines).
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