CROWN NRE Savings Account

Overview

LVB Crown NRE Savings Account Exclusively for High Net worth NRE customers. Explore a simple and smart way to move your foreign earned funds to India without paying any tax on interest. Enjoy tax-free interest and fully reparability of funds.

Salient Features

  • Visa Platinum International Debit card life time free
  • LVB Crown NRE account offers Family Banking Free
  • 25% Discount on locker rental.
  • INR 25 lakhs Personal accident insurance cover.
  • Free DDs/POs charges

Eligibility

  • Non Resident Indians (NRI)
  • Person of Indian Origin (POI)
  • Overseas Citizenship of India (OCI)

Documentation

  • In addition to the KYC documents required for NRE savings account , customer has to submit the following document as well:
    • Specific declaration letter for Personal accidental insurance

Interest Rates & Charges

Sr.No Feature LVB CROWN NRE SB Account

1

Average Quarterly
Minimum Balance (AQB)
CROWN NRE SB A/c AQB of INR 2 lacs
OR CROWN NRE SB A/c AQB of INR 1 lac
+ NRE/NRO/FCNR (B) Term Deposits/ RD’s/NRO
SB balances adding to a liabilities
Total Relationship Value (TRV) of INR 10 lacs.

2

Cash Deposit
a. At base branch Not Applicable. INR Cash deposit in India into any NRE account not permitted.
b. At Non base branch

3

Cash Withdrawal 
a. At base branch Free
b. At Non base branch Free

4

Outstation Clearing Charges Free

5

Clearing return Charges
Outward Clearing Return Charges Free
Inward Clearing Return Charges Rs.100/- per instrument

6

DD/PO Charges Free

7

Charges for non-maintenance
of minimum balance
Rs.500/- plus applicable taxes per quarter

8

RTGS/NEFT Charges Free

9

Debit Card Free VISA Platinum International Debit Card

10

Locker facility 25% discount on locker rental, discount is limited
to one locker per CROWN account. Subject to availability.

11

Net Banking Free

12

SMS Alert NA for overseas mobile nos. Alerts only on mail

13

Cheque Book Free cheque book of 50 leaves per calendar quarter

14

Stop Payment Free

15

Standing Instructions Free

16

Statement of Account Free Email Statement (Monthly)

17

Account closing charges An amount of Rs.500/- will be levied towards the a/c
closure charges, if the account is closed within 6 months.
As per RBI circular, if the customer is not satisfied with the
product, he can approach the bank for switch over to a
suitable alternate product within 14 days, and if none of the
alternate product suits his requirement, he can close,
without any charge.

18

Personal Accident Cover INR 25 lacs Personal Accident Cover (Death risk)
for Primary Account holder. Terms and Conditions apply.

19

Family Banking Accounts
  Family Banking - Applicable for close relatives of the primary account holder (as defined under Section 6 of Companies Act 2013) Family Banking - Applicable for close relatives
(as defined under Section 6 of Companies Act 2013).
Accounts offered would be resident or non-resident
depending on residency status of the close relative.
Up to 5 SB accounts can be maintained linked to the
Primary Account. Non-Resident Account-Classic
NRE/NRO SB Account; Domestic Account:
Lakshmi Mahila, Lakshmi Youth Power, SB Others.
No minimum balance to be maintained in the SB accounts
tagged to the NRIs cust id in which
LVB CROWN
account is opened.

20

Relationship Management Relationship will be handled through
dedicated CROWN Relationship Managers,
and Branch Managers

21

Dedicated CROWN Lounge Access Available in select branches

22

POS Limits per day INR 3,00,000/-

23

E-commerce transaction limit per day Default limit set to INR 10,000 due
to security reasons.
However, customer can request to
enhance limit to INR 3,00,000/- per day.

24

ATM withdrawal limit per day INR 2,00,000/-

25

Transactions charges in LVB ATMs (within INDIA) per month     Unlimited Free
Transactions charges in Non LVB ATMs-Metro and non-Metro ATMs (within INDIA) per month Unlimited Free

26

Transaction charges at international ATMs (outside India) Cash withdrawal: INR 100/- plus taxes
Balance enquiry: INR 25/- plus taxes

27

No. of Transactions per day ATM: 10; POS: 10; e-commerce: 10
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