Overview
For school students, LVB Rising Star is an Exclusive Savings Account. The students should be eligible for Government Grants/Scholarship/Subsidies. This is a Zero Balance account which is designed in a way that it will not go to dormant due to non-operation.
Interest Rates and Charges
Sr.No |
Features |
Remarks |
1
|
Mode of Operation
|
Singly by student OR singly by guardian on behalf of minor OR jointly with guardian, depending on age of the student
|
2
|
Minimum Balance
|
NIL
|
3
|
Cash Withdrawal Charges
|
i) Base branch
|
Rs.10,000/- per day there after chargeable at Rs. 2/- per Rs. 1,000/- subject to a minimum of Rs, 25/- per transaction
|
ii) Non Base Branch
|
4
|
Cash Remittance charges
|
i) Base branch
|
Free Upto Rs. 100,000/- per month. there after chargeable at Rs. 2/- per Rs. 1,000/- subject to a minimum of Rs, 25/- per transaction
|
ii) Non Base Branch
|
5
|
DD / PO Issue
|
Up toRs.1000
|
Rs.15
|
Rs.1001-5000
|
Rs.20
|
Rs.5001-10000
|
Rs.25
|
Rs.10001 and above
|
Rs.2.25/- per Rs.1000
|
DDs/POs for payment of school/college fees, Hostel Fees will be issued free of cost. Branches to ensure this manually.
|
6
|
TOD/Over draft
|
Not Allowed
|
7
|
Funds Transfer between LVB Branches
|
Free between LVB Branches.
|
8
|
Chq Book Facility
|
Not available
|
9
|
*Debit card
|
*Age 10 & above: RUPAY PMJDY Children’s debit card, free
|
10
|
ATM Cash withdrawal limit
|
Rs. 5,000 per day, subject to a maximum of 5 transactions (financial and non-financial) per day
|
11
|
POS transaction limit
|
Rs. 5,000 per day, subject to a maximum of 5 transactions per day
|
12
|
E-Com transaction limit
|
Rs. 5,000 per day, subject to a maximum of 5 transactions per day
|
13
|
Net Banking
|
Not available
|
14
|
Mobile Banking
|
Not available for minor, will be enabled on guardian’s customer id upon request.
|
15
|
Non-maintenance Charges
|
Not applicable
|
16
|
SMS Alerts
|
Available
|
17
|
Account Status
|
Dormancy - The account shall not become dormant even if not operated for 2 years or more, as per regulatory guidelines
|
Negative balance - The account shall not go into negative balance at any point of time
|