Karur Vysya Bank
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Karur Vysya Bank is a private sector financial institution in India. The bank has considerable operations across India, with a special focus on the southern region. It offers core banking products, along with internet and mobile banking facilities.[br]
Karur Vysya Bank: Company Information
Karur Vysya Bank began operations in 1916 in a small city called Karur, in the state of Tamil Nadu, India. The central idea behind its establishment was to connect Karur traders with banking facilities. However, the bank has come out of the initial regional flavour to provide banking services across the nation.
According to the data for the financial year 2008-09, the total business of the bank has crossed Rs25 thousand crore. It earned net profits of Rs235.85 crores in the year.
Karur Vysya Bank: Products and Services
Karur Vysya Bank offers highly specialized products and services, which include:
Deposits: Some of the featured deposit schemes are:
· KVB Freedom savings: Offers net banking, mobile banking and multi-city cheque facilities.
· KVB Yuvashakti savings: Particularly for young earners.
· Rainbow savings: Offers benefits of savings and term deposits
Loan: The bank has variable loan products to meet the financial needs of individual customers, such as:
· KVB Vartagamitra: For working capital requirements of traders.
· KVB Fleximobile: For purchasing a four-wheeler.
· KVB Doctors’ Loan: Offers finance to qualified doctors to setup or improve their business.
· KVB Happy Home: To finance home purchase.
Karur Vyasya Bank has a network of 312 branches and owns 322 ATMs. It has association with Axis Bank for ATM sharing facilities. Karur Vyasya ATMs offer the following services:
· View account information
· Cash deposit
· Pay utility and credit card bills
· Purchase mobile phone vouchers
· Receive mini/detailed account statement
· Loan account summary[br]
The bank uses chip and PIN technology for its ATM services. It offers ATM-cum-debit cards to all accountholders. At online banking branches, accountholders receive an internet transaction user ID and password. The bank has also developed a highly secure net banking environment using SSL (secure socket layer) and virtual keyboard technology.
In the year 2008-09, Karur Vysya Bank launched investment and insurance products to maintain a diverse business profile.
