Lakshmi Vilas bank account details

HI sir, I am Lokesh Gujral. I am from Bangalore. I want you to help me by providing me some information regarding the Lakshmi Vilas Bank Saving bank account type details. Can you help me?

[Raman Vij]

As you have asked about the Lakshmi Vilas Bank Saving bank account type details, I am giving you information regarding it
LVB Savings Bank is envisioned to endorse the healthy habit of saving and for the steady growth of one's money in the bank.

Features:

Minimum Deposit amount of Rs.500/- with cheque book facility at Rural and Semi-Urban Branches and Rs.1000/- with cheque book facility at Urban and Metro Branches
Pass Book facility available
Nomination facility is available.

Eligibility:

Individuals in their own names
2 or more persons, payable to any of them/survivor/survivor
2 or more persons, payable to all of them jointly
A guardian on behalf of a minor
A minor himself/herself if he/she has attained the age of 12 years
Clubs, associations (Registered or unregistered) Charitable and religious institutions trusts, local bodies etc., and other bodies of an identical nature
Illiterate persons

Documentation
All savings accounts need to be correctly introduced by someone known to the bank preferably other SB/CA account holders with the branch.

Latest photograph of the contender would be essential to open an account.
Proof of residence and identity should be fitted out through any of the documents such as Passport, Driving License, Identity Card issued by income tax authorities, voter’s identity card.
The account opening process starts on submission of the duly filled in application form along with the initial deposit amount in cash, suitable introduction from a person known to the bank.

Interest Rate
Savings Bank account at LVB earns interest at 5% per annum for accounts where balance maintained upto Rs.5 lakhs and 6% per annum for entire balance for accounts where balance maintained above Rs.5 lakhs with effect from 16.06.2015.

This may change from time to time as decided by the bank. Such interest is calculated on daily product basis and paid to the customer twice per year.
No T.D.S. is deducted in SB Accounts.