Savings Bank Account of Vijaya Bank

1
Savings Bank Account of Vijaya Bank
2
Savings Bank Account

• Who can open an account
• An individual
• Two or more individuals can start a joint savings
  account payable to all of them or any one or any
  of the survivors.
• A guardian on behalf of a minor provided the
  birth certificate is available.
• A minor above the age of 12, who can produce the
  necessary documents date of birth certificate
  issued by the concerned authorities. (Max balance
  for this account is restricted to Rs.10,000/-)
• Authorised officers, managers, secretaires,
  treasurers of school, religious or charitable
  institutions or such institutions in their name,
  giving clear operational instructions and
  furnishing all the necessary documents.

3

• KYC Compliance
• The prospective customers/account holders are
  required to comply to the Know Your Customer
  (KYC) norms by producing any one of the
  documents for both the address and identity
  proof.
• Proof of Identity
• Passport
• PAN Card
• Voter ID Card
• Driving License
• Letter from a public servant/public authority
  verifying the address and identity of the
  customer subjected to Banks satisfaction.
• Address proof
• Telephone Bill
• Ration Card
• Electricity Bill
• Bank Account Statement
• Letter from recognised public authority
• Employer letter subjected to Banks satisfaction

4

• Minimum Balance
• For opening maintaining an SB account
• Urban/Metro - Rs.2000
• Rural/Semi-urban - Rs.1000
• Special category (students/pensioners)
• Rs.500 for all areas
• Penalty/Service charge will be levied if the
  balance falls below the prescribed limit.
• Restrictions on withdrawals
• Maximum withdrawals other than through the ATMs
  are restricted.
• Service charges levied at present when
  withdrawals exceeds the limit
• If cheque withdrawals exceeds 50 per calendar
  year, then charges are
• Rs.10/- per cheque for non-individuals
• For Individuals
• Rs.10/- per cheque for non-rural area.
• Rs.5/- per cheque for rural area.

5

• Inoperative Accounts
• If the account is not operated for more than 24
  months, then it will be transferred to
  Inoperative Account.
• Inoperative accounts with zero balance will be
  closed and will not be reviewed for bringing the
  account back to Operative status.
• Anywhere Banking facility is barred for this
  account and it can be operated only at the base
  branch.
• Cheques and credits received on this account in
  other than base branch will be returned, with the
  reason Inoperative Account. Present in base
  branch and Inoperative Account Credit at the
  base branch respectively.
• Dormant Accounts
• Inoperative Account which are not operated for
  more than 36 months will be treated as Dormant
  Account.
• These accounts are not eligible for operations.
  However the balance can be claimed by the account
  holder after providing necessary documents at the
  base branch.
• These accounts attract service charges same as
  the Inoperative Account.
• These accounts tending to zero balance while
  collecting service charges/otherwise, will
  automatically get closed.

6

• Types of Savings Bank Account at Vijaya Bank
• V Payroll Savings Bank Account
• V Genuth Savings Bank Account
• V Balika Savings Bank Account
• V Platinum Savings Bank Account
• V Basic SB
• V Plus Savings Bank Account

7

• V Payroll Savings Bank Account
• Focus is on salaried class working in
  corporations, institutions , companies, Govt.
  dept etc.
• Eligibility The organization should have a
  minimum of 10 employees.
• Average salary requirement Not less than Rs.5000
  per month.
• Minimum balance Zero
• ATM withdrawal limit Rs.30,000 per day.
• Processing Fee Waiver There is no processing
  charge for V-Cash, V-Wheels and Housing Loans
• Handling Charges Cash handling charge is free up
  to 2 Lakhs per month.
• Privilege Accounts Executive of the
  corporate/company whose minimum salary per month
  is Rs.50,000 and above will be offered V-Platinum
  Savings bank Account.

8

• V Genuth Savings Bank Account
• Students (undergoing various courses) and kids
  (from age day 1) are eligible for this scheme.
• This account scheme can be opened with a minimum
  initial amount of Rs.10 and can be continued with
  zero balance.
• Upon parent authorization, children above 12
  years can get add-on Credit Card and ATM Card.
• Cheque books are provided and withdrawal facility
  is made available for kids above the age of 12.
• Transfer of money from Parents account to childs
  account is free.
• Internet banking facility is provided on request.
• Payment of school fees, hostel fees etc is free
  of transfer fee in this account.
• When the balance in this account exceeds
  Rs.10,000, it is transferred to term deposit
  account in multiples of Rs.5000.

9

• V Balika Savings Bank Account
• This National scheme was launched by the
  Government of India for providing incentives to
  girls for Secondary Education
• The main aim of this scheme is to reduce school
  drop-outs and also to promote the enrollment of
  girl child.
• Under this scheme, eligible girls will receive
  Rs.3000 deposited by specific authorities along
  with the interest upon compliance of the scheme
  conditions.
• There are 2 deposit scheme under this
• V-Balika Savings Bank Account
• Girl children below the age of 16 under the
  following categories are eligible to open the
  account
• All SC/ST girls who have passed class VIII
• All the girls who have passed class VIII from
  Kasturba Gandhi Balika Vidyalaya (irrespective of
  whether they belong to SC/ST)
• The girl child should be unmarried.
• The girl child should be enrolled for class IX in
  state/Union Territory - Government, Government
  aided or local body school.
• The account can be opened with zero balance and
  the interest rate is same as the Savings Bank
  Account.
• V-Balika Term Deposit Account (VSU Cumulative)
• After the incentive of the V-Balika Savings Bank
  account credit is received, the amount is
  transferred to the V Balika Term Deposit Account.

10

• Period of Deposit It is calculated from the date
  at which the deposit was till the date at which
  the girl attains the age of 18 years.
• Rate of Interest The interest will be cumulative
  and it will be the same as the Domestic Term
  Deposits as on the date of issue of Deposit
  Receipt.
• V Platinum Savings Bank Account
• Under the scheme, customers who maintain certain
  minimum balance get add-ons from the bank.
• Some of the highlights of the scheme are

Particulars Individuals/ HUF Institutions / Organisations

Maximum Number of free Withdrawal (beyond 50 free withdrawals) 50 transactions p.a. Free
Cheque book charges 200 Leaves free in a year Free
Mobile Banking Charges (IMPS) Free Free
Net Banking Charges Free Free
Monthly e-statement through email. Free Free
11

• Minimum Quarterly Average Balance to be
  maintained
• V Basic SB
• V-Basic Savings Bank Deposit Account is for those
  who comply with the KYC norms.
• As per bank guidelines, loans can be extended to
  this account holder.
• This account is opened with initial deposit of
  Rs.10 and can be continued with zero balance.
• RuPay branded debit card is issued free of cost.
  If PAN is not available, branch can get
  declaration in Form 60/61 and issue ATM debit
  card.
• There is no charges for non- operation /
  activation of inoperative account.
• Account holder of V-Basic Savings Bank deposit is
  not eligible for any other savings bank account.
  In case of any other SB a/c, it should be closed
  within 30 days of opening this BSB account.

Category Individual/HUF Institutional/Organisation
Metropolitan/Urban Rs.1,50,000/- Rs.5,00,000/-
Semi - Urban/Rural Rs.1,00,000/- Rs.5,00,000/-
12

• V-Basic Savings Bank Deposit Small Account For
  those who comply to only the simplified KYC norms
• Features other than above mentioned conditions
  are
• The total aggregate of all withdrawals and
  transfers should not exceed Rs.10,000 per month.
• Account balance should not exceed Rs.50,000 at
  any point of time.
• The total credit should not exceed Rs 1 Lakh in a
  financial year.
• V Plus Savings Bank Account
• Rs.25,000 is the minimum balance requirement.
• Excess amount above the minimum balance is moved
  into term deposit account in multiples of
  Rs.10,000.
• Whenever the balance goes below the minimum
  balance prescribed the remaining money is
  transferred from the term deposit to the V-Plus
  SB account.
• In case the minimum balance of the V-Plus SB
  account remains below the minimum balance
  requirement, then the account will be transferred
  to ordinary SB account, after closing all V-Plus
  Term Deposits under the account.

13
VIJAYA BANK

• Vijaya Bank is a PAN India Institution, serving
  diverse sectors of the society
• The Bank offers a bouquet of innovative and
  attractive products and services to its
  customers. It has also incorporated a host of
  latest Digital Banking products, to provide the
  best services to its customers.
• Digital Banking services are
• VPAYQWIK
• Mobile Banking
• Net Banking
• Vijaya UPI
• Twitter banking and many more
• For details, visit https//www.vijayabank.com

14
THANK-YOU