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Product Details
Bank Name

Karur Vysya Bank Limited

Account Name

KVB Student Saving Account is a special savings account designed to meet the needs of students.

Account Type

Savings Account.

Interest Rate

Balance up to Rs.5 Lakh-2.25%. Balance above Rs.5 Lakh up to Rs.10 Lakh-2.50%. Balance above Rs.10 Lakh to less than Rs. 1 Crore-3.00%.

Free Debit Card

Yes.

Student Savings Bank Account
Account Opening Fees

INR 0

Annual Maintenance Fees

INR 0

Minimum Account Balance

INR 0

Debit Card Charges

Nil.

NEFT Charges

Free if done through net banking/mobile banking.

IMPS Charges

Free - Up to INR 1,000/-. Beyond INR 1,000: INR 5.

Fees and Charges
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Student Savings Bank Account

Special Features

None.

Eligibility Criteria
  • Open to students above 12 years of age.

  • Proof of identity and date of birth required.

  • Introduction from an existing KVB account holder or educational institution head preferred, but not mandatory.

  • No minimum balance requirement. for students with maximum age limit of 29 years.

Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  • Free Debit card.

  • N

Cons
  • No premium value add feature provided with this account. 

  • Low interest rate.

  • Limited branch network.

  • Limited number of ATMs.

Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?

1. KVB Student Savings (for students above 12 years):

Online:

  1. Visit the KVB website: https://www.kvb.co.in/personal/loans/personal-loans/

  2. Navigate to "Personal" > "Accounts" > "Savings Accounts".

  3. Select "KVB Student Savings" and click "Open Now".

  4. Fill out the online application form with details like:Student's name, date of birth, contact information.
    KYC documents (proof of identity and address).
    Introduction details from an existing KVB account holder or educational institution head (optional).

  5. Submit the application. You'll receive a reference number and further instructions via email.

  6. Complete KYC verification through video call or visit a branch for physical verification.

  7. Upon successful verification, your account will be activated and you'll receive welcome materials.

At a Branch:

  1. Locate your nearest KVB branch using the branch locator: https://www.kvb.co.in/locate-us/

  2. Visit the branch with the student's KYC documents and optional introduction letter.

  3. Inform the representative you want to open a KVB Student Savings account.

  4. They will assist with filling the application form and guide you through required paperwork.

  5. KYC verification might happen at the branch or through a video call later.

  6. Once all steps are completed, your account will be activated and you'll receive welcome materials.

Application Procedure
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