Vyapaar

Overview

LVB Vyapaar Current Account is a flagship account for Kirana stores, small merchants, and traders across various businesses. LVB Vyapaar Current Account is a zero balance account with a very nominal account maintenance fee. Also, the account offers transaction limits that benefit such small merchants and traders.

Salient Features

  • Zero balance account with a very nominal account maintenance fee
  • Free cash deposit limit of Rs 5,00,000/- per month at base branch
  • Unlimited cash withdrawal limit at base branch
  • Rupay Platinum debit with 2 complimentary airport lounge facility
  • Free email statement and net banking facility
  • Customer may opt for an mPOS terminal, by paying the charges additionally

Eligibility

  • This product will address business banking requirements of small merchants, traders, such as fruit and vegetable vendors, flower vendors, small eateries, medical stores, and Kirana stores across the country.

Documentation

  • All extant KYC guidelines applicable to opening Current Accounts shall be adhered to.
  • Account Maintenance Fee of Rs 1,000/- plus taxes to be remitted along with Account opening Form.

Charges

Sr.No Features LVB VYAPAAR

1

Account Opening Fee An upfront fee of Rs. 1,000/- plus applicable
taxes to be collected at the time of account
opening. This may be collected as a cheque
or DD only by Sales team or by cash if
account is opened in Branch. This is applicable annually.

For the subsequent years, this will be debited
from the customer’s Vyapaar account at the beginning of every year.
For accounts maintaining an MAB of Rs.
5,000/- and above for all 12 months of a
year, this fee will be waived for the
subsequent year.

2

Mobile POS (mPOS) terminal Installation fee of Rs 1,000/- plus taxes.
Monthly rental of Rs 350/- plus taxes per
month.

3

MAB  NIL, Zero Balance

4

Cash Remittance
Free Limits at base branch Up to Rs 5,00,000/- per month
Additional charges on incremental
deposits at base branch
Rs 3/- per Rs 1000 subject to a minimum Rs
50/- per transaction
Free Limits at non-base branch NIL
Charges on cash deposits at non-base branch Rs 3/- per Rs 1000/- subject to a minimum Rs 50/- per transaction

5

Cash Withdrawal
At base branch Free
At non-base branch Rs 50,000/- per day
Charges on cash withdrawal at non base
branch beyond free limits
Rs 2/- per Rs 1000/- subject to a minimum of
Rs 25/- per transaction

6

Inward Clearing
At base branch/non-base branch Free

7

Outward Clearing
At base branch/non-base branch Free

8

Inward Clearing Cheque Return Charges
At base branch/non-base branch Rs 300/- plus taxes

9

Collection Charges for Outstation
Cheques
Rs 25/- plus taxes, plus out of pocket
expenses

10

OBC/Outstation Clearing Cheque
return Charges
Out of pocket expenses

11

Outward cheque return charges Rs 25/- plus taxes per instrument

12

DD/PO
Free Limit Rs 3 lakhs per month
Charges on additional usage Rs 2/- per 1000/- subject to a minimum of Rs
25/- per DD

13

NEFT (NATIONAL ELECTRONIC FUNDS
TRANSFER)
Up to Rs 10,000 - Rs 2.50 per transaction
Above 10001 and up to 1 Lakh – Charges of
Rs 5 per transaction
Above Rs 1 lakh to Rs 2 lakhs – Charges of Rs
15/- per transaction
Above Rs 2 lakhs – Charges of Rs 25 per
transaction

14

RTGS (REAL TIME GROSS SETTLEMENT)
From Rs 2 lakhs to Rs 5 lakhs Rs 25/- per transaction
Rs 5 lakhs and above Rs 50/- per transaction

15

Cheque Book Issuance 1 cheque book of 25 cheque leaves free per
month. Rs 1.50 per leaf beyond free limit. No.
of cheque leaves per cheque book-25

16

Stop Payment Rs 100/- plus taxes per cheque

17

Debit Card RUPAY Platinum International Debit card, free for the first year

Rs 100/- plus taxes from the second year
onwards, or in case of reissue

18

No. of free ATM transactions per month
In LVB ATMs Unlimited free
In non-LVB ATMs Metro ATMs-3 transactions; non-metro-5 transactions

19

Charges for transactions in non-LVB ATMs beyond free limits
Financial transactions Rs 15/- plus taxes
Non-financial transactions Rs 5/- plus taxes

20

Statement of Account Free, monthly

21

Folio Charges For MAB of up to Rs 5,000/- flat fee of Rs. 100/- plus taxes per month

For MAB of Rs.5,000/- and above , Free

22

Net Banking Facility Free

23

Transfer of funds between CBS
branches
Free

24

IMPS (Handy Pay) Chargeable as per schedule

25

Non Maintenance of MAB Service
Charges
NA, Zero Balance account

26

Account Closing Charges If the account closed within 6 months
An amount of Rs 200/- plus taxes for Rural
branches Rs.400/- plus taxes for Metro, Urban, Semi urban branches. If the account is closed within 14 days. Customer may switch to other products within 14 days. If none of the other products suits his requirements, the customer can close without any charges.