CROWN NRO Savings Account

Overview

LVB Crown NRO (Non-Resident Ordinary) Savings account is where you can maintain and manage your income earned in India such as rent, dividends, pension etc. Be assured of efficient managing of your local rupee earnings in India, even as you live abroad. Easy re-designation of your account when you change status from resident to non-resident.

Salient Features

  • RUPAY Platinum Debit Card life time free
  • LVB Crown NRE account offers Family Banking Free
  • 25% Discount on locker rental.
  • INR 25 lakh 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/NRO savings account , customer has to submit the following document as well:
    • If HUF / individuals of age below 18 and above 70 prefers to open this account, specific declaration letter from the customer needs to be obtained for understanding the non-availability of “Personal accidental insurance cover”

Interest Rates & Charges

Sr.No Feature LVB CROWN NRO SB Account

1

Average Quarterly Minimum
Balance (AQB)

CROWN NRO SB A/c AQB of INR 2 lacs
OR CROWN NRO 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 Free
b. At Non base branch Free upto Rs.5.00 lakh per day thereafter Rs.1/1000
Cash handling charges will be levied – Free up to 10
sections per day thereafter Rs.5 per section (to be handled manually)

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 RUPAY Platinum Debit Card. The card can be
used in ATMs and POS only in India. It cannot be
used outside India, as per RBI norms.

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 Available only if the registered mobile number
is a domestic (India) number. 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

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