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Product Details
Bank Name

Karur Vyasa Bank

Eligibility

Individuals
Individuals jointly with other Individuals
Minors.
HUF.
Sole Proprietary concerns.
Trusts, Associations, Clubs & Societies.
Partnership Firms.
Joint stock companies.
Any other entity not prohibited by RBI.

Interest Rate

7.40 to 7.80%

Tenure

333 Days

Fixed Deposit Type

Regular

KVB 333 Special Deposit Scheme

KVB 333 Special Deposit Scheme

Tax Benefits

None

Credit Ratings

[ICRA]A+

Interest Payment Frequency

Monthly, quarterly, half-yearly, yearly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Both

Features
  • Flexible interest payout options.

  • Loan facility is available.

  • Additional concession in interest rates for senior citizens.

Minimum Investment Amount

1,000

Fees and Charges
Pros
  • Flexible interest payout options.

  • Competitive interest rates.

  • Nomination Facility

Cons
  • There is no flexibility in tenure.

Pros & Cons
Account Opening and Procedure
How to Open?
  • Visit your nearest Karur Vysya Bank branch: This is the traditional method and allows for personalized assistance from a bank representative. Here's what to expect:Carry your KYC documents:  These typically include proof of identity (PAN Card, Aadhaar Card, etc.), address proof (utility bills, rental agreement), and possibly a passport-sized photograph.
    Fill out the application form: The bank representative will guide you through the application process.
    Deposit the initial amount: You'll need to deposit at least the minimum amount required to open the FD (check with the bank for current minimums).
    Choose your interest payout option: KVB offers both cumulative and non-cumulative interest payout options.
    Nominate a beneficiary: This ensures someone you designate receives the funds in case of your passing.

  • Online account holders can potentially open through Netbanking (limitations apply): While KVB's website doesn't explicitly mention opening Tax Saving Deposits online, it does allow opening Fixed Deposits through Netbanking for existing account holders, with some limitations.

Application Procedure

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