Freedom Saving Account

Freedom Saving Account - KVB

Make the most of your hard earned money with the KVB Freedom Savings Account. This unique account is designed to keep your money secure while giving you the maximum technology benefits at an affordable minimum average balance. Get the service you deserve with a KVB Freedom Savings Account.

Features and Benefits
  • Free Cheque book – 25 leaves per year.
  • Debit Card with your account
  • Net Banking for all transactions
  • Mobile Banking credit and debit alerts
  • Free use KVB ATMs and 5 transactions free in the ATMs under VISA and NFS cluster
  • Monthly financial statement via e-mail
  • Standing instructions to the Manimala deposit scheme at no extra cost.
  • 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.2.25/- inclusive of GST will be levied for each transaction in excess of 90 transactions.

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Charges and Limits
Monthly Average Balance (MAB) Rs. 5,000/-
Charges for Non maintenance of MAB Penalty for non maintenance of MAB Rs 250/- p.m. proportionate to the % of shortfall in balance maintained.
Cheques payable at par (Inward Clearing /Transfer Debit at Non – Base Branch) Free up to Rs. 15 lakhs p.m. for clearing / transfer transactions at non-base branches. Thereafter, charges applicable as per the service charges tariff
Remittance of cash at base branches Rs. 5 lakh per month beyond that, Rs.2.25 per 1000/- Min – Rs. 10/-
Cash withdrawal at base branches Free without any limit (Self Cheque) Rs. 50,000/- per day per party (Third Party cheque)
Remittance of cash at non-base branches Free upto Rs.1,00, 000/- per day, subject to a max. of Rs. 5,00,000/- per month beyond that, Rs.2.25 per 1000/- Min – Rs. 10/-
Cash withdrawal at non-base branches Free without any limit  (Self Cheque) Rs. 50,000/- per day per party  (Third Party cheque)
Local Clearing cheques Non-base branch coming within the clearing cluster will be considered as base branch only
Collection of IW / DW /RO / OCC instruments (Deposited at base branch) Free up to Rs. 25,000/- p.m. subject to collection of Rs. 10/- as postage per instrument. Thereafter, charges will be applicable as per the service charges tariff. Banker’s commission will be collected on instruments drawn on centres where we have no branches
Collection of IW / DW /RO / OCC instruments (Deposited directly at non-base branch which is a centre where the instrument is payable) Free up to Rs. 25,000/- p.m. Thereafter, charges applicable as per the tariff.
Cheque Book charges Free Cheque book – 25 leaves per year after which Rs 5/- per leaf.
Issue of Demand drafts/pay orders Free up to Rs. 25,000/- p.m. After which Rs.3.50/- per Rs.1000/- Min-Rs.30/-,Max- Rs.15000/-
NEFT / RTGS facilities Charges applicable as per the service charges tariff.
Mobile Banking Free
VISA Debit Card Charges applicable as per the service charges tariff.

KYC Documents for opening an Account
Service Charges

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