e-RBSB

KVB proudly introduces e-RBSB products

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S.No Product Features
1 Name of the Product e-RBSB
2 Eligibility to open account Any individual can open the account singly through DLite mobile banking application, from anywhere without visiting our branch.
3 Monthly Average Balance (MAB) Rs.3000/-
4 Sweep in/Out Facility After retaining a balance of Rs.1,00,000/- in the SB portion of the account, funds in multiples of Rs.10,000/- will be swept-out to FD portion for a period of 90 days at EOD on every Sunday.
The sweep-in into the savings portion of the RBSB account will be done in units of Rs.10,000/- in LIFO (Last In First Out) method.
5 Personal Accidental Coverage Free Accident Insurance (death) coverage of Rs.1 Lakh.
6 Completion of Full KYC Please note that transaction restrictions are applicable to such ‘Aadhaar OTP based e-KYC, non-face-to-face mode’ opened digital SB accounts as per RBI Master Directions, till full KYC is completed.
Once the customer completes full KYC through Video-Based Customer Identification Process (V-CIP) or by visiting the branch, the account-holder can enjoy unrestricted features of the product including auto-sweep out & sweep-in facilities.
7 Transaction restrictions till completion of full KYC
  • The aggregate balance of all the deposit accounts (CA, SA & TD) of the customer shall not exceed Rs.1,00,000/-.
  • The aggregate of all credits in a financial year, in all the deposit accounts taken together, shall not exceed Rs.2,00,000/-.
  • If any transaction breaches the above mentioned condition, system will not allow the transaction.
  • Accounts opened using ‘Aadhaar OTP based e-KYC, in non-face-to-face mode’ shall not be allowed to continue in the same status for more than one year.
  • Until completion of full KYC, loan accounts cannot be opened.
8 Cheque Book facility Available.

*Karur Vysya Bank reserves the right to change / alter/ withdraw any features or terms and conditions of the product.

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