Lakshmi Vilas Bank Ltd

Lakshmi Vilas Bank Ltd is one of the well known private sector banks in India. It offers an array of banking and financial solutions for the customers in a dedicated and professional manner. Due to its high quality facilities and services, Lakshmi Vilas Bank Ltd has become a known name in the Indian banking industry and the customer is steadily increasing over the years.

Growth of Lakshmi Vilas Bank Ltd

Lakshmi Vilas Bank Ltd was established way back in the year 1926 by a group of people from the region of Karur under the managerial post of Mr. V.S.N. Ramalinga Chettiar. The main aim of the bank was to provide financial support to the various segments of the society. In the month of November in 1926, the bank was covered under the Indian Companies Act, 1913. Some days later, it was given the permission to start the business. In the year 1958, the Reserve Bank of India granted it the license and incorporated it into a Scheduled Commercial Bank.

It was in the year 1961 that the Lakshmi Vilas Bank started to increase its branches to various parts of the country. It opened branches in various states like Karnataka, Andhra Pradesh, Maharashtra, Kerala, Gujarat, Pondicherry, West Bengal, Gujarat, Delhi, and Uttar Pradesh. Since then, the bank is steadily adding to its expertise and services. Today, it has a vast network of around 249 branches across 14 states. There are around 6 extension counters and 3 satellite branches.

According to recent surveys, the business of Lakshmi Vilas Bank Ltd amounts to around ` 12,606 crore with a net profit of around ` 50.30 crore. The amount of the net owned fund is around ` 453.70 crore with the loan asset rate of around 1.24%. Due to the increase in the market base, the profits are expected to rise significantly over the next few years.

Products and services of Lakshmi Vilas Bank Ltd

The main focus of the Lakshmi Vilas Bank Ltd is to provide absolute customer satisfaction by providing high class banking and financial services. To keep pace with the changing tends in the market; the bank has come up with new services such as retail banking, insurance, corporate banking and so on.

The headquarters of the bank is located in Tamil Nadu and it coordinates the operations and services of the bank. The loan services of the bank are known for providing short term and long term financial support. Some of the well known loan schemes that are offered by the bank are:

• Lakshmi Home Loan
• Lakshmi Car Loan
• Lakshmi Swarna Abarana Loan
• Lakshmi Multipurpose Loan
• Lakshmi Business Credit
• Lakshmi Professional Credit
• Lakshmi Home Comfort Loan
• Lakshmi Start-up Professional Loan

The loan services that are offered by the bank cater to the short term as well as long term needs and preferences of the customers. The rate of interest is also affordable and the period of payment is also convenient.

Lakshmi Vilas Bank Ltd is also a trusted name in the segment of insurance. The bank provides a number of insurance benefits for housing, automobiles, health care and other aspects of lifestyle. The insurance coverage has always been convenient and fulfills the needs of the customers. Some of the popular insurance products and schemes that are offered include:

• Pension Plus service
• Easy Life Plus plan
• Secure Life plan
• Amar Suraksham plan
• Life Bond premium insurance plan

The Lakshmi Vilas Bank Ltd also offers high quality credit services through its Lakshmi Vilas Bank Credit Card scheme. Usually, the bank offers two types of credit cards to the customers, namely the general credit card and the Lakshmi Kisan Credit Card. The former has a tie up with Canara Bank while the later provides short term credit to the farmers for the purchase of farming equipments.

To cater to the Non Resident Indians, the Lakshmi Vilas Bank offers a number of facilities and services such as:

• RFC Deposit services
• NRE Deposit services
• FCNR (B) Deposit services

Lakshmi Vilas Bank Loans

The Lakshmi Vilas Bank Ltd is a prime Indian commercial bank. Lakshmi Vilas Bank Ltd Loans comprise a wide variety. Starting from home loans, educational loans to car loans are all available here under one roof.
Lakshmi Vilas Bank Ltd Loans include the following products:

• Lakshmi Business Credit
• Vidhya Lakshmi Loan
• Lakshmi Home Loan
• Lakshmi Composite Business Credit
• Lakshmi Rental Loan
• Lakshmi Gold Power
• Lakshmi Personal vehicle Loan
• Lakshmi Property Power Loan
• Lakshmi Easy Loan

Lakshmi Vilas Education Loans

The loan product from LVB is known as Vidhya Lakshmi Loan. It is a type of Term Loan. This loan is extended for financing the higher education needs of applicants. Starting from higher secondary education, the bank extends educational loans for specific professional or job-oriented courses at certified institutes. Those courses on completion need to possess gainful loan repayment capacity.

The upper ceiling on Lakshmi Vilas Bank Ltd education Loans are ` 25000/- for pursuing Higher Secondary Education, ` 15.00 lacs for pursuing studies abroad and ` 7.50 Lacs for pursuing studies in India respectively. For educational loans less than or equal to ` 4.00 lacs securities are not required. Above this ceiling the bank demands Collateral.

Lakshmi Vilas Home Loans

Lakshmi Vilas Bank Ltd Home Loan comes under the brand name of Lakshmi Home Loan. Individuals as well as HUFs are eligible for this home loan scheme, provided they meet the stated income criterion laid down by the bank.

Lakshmi Home Loan is available for construction of new flats or houses. Customers can also use this financing scheme for purchasing approved plots, old houses and also for repair, renovation or extension activity involving existent ownership properties. Loans are also available for purchase of new flats or houses that are built by certified contractors or promoters.

Lakshmi Vilas Car Loans

Under Lakshmi Personal Vehicle Loan scheme financing is provided for purchasing new as well as used cars. Loans are also available under this scheme for buying new two-wheelers and new as well as old vans and jeeps. The security demanded is the hypothecation of the purchased vehicles.

Salaried, permanent employees of Central or State Governments, Reputed Establishments, PSUs or Corporations and reputed Private Sector Companies are eligible for the loan. So are certain agriculturists, self-employed persons, businessmen and professionals. The different types of loans available under this scheme attract different sets of terms and conditions.

It may also be noted that, Lakshmi Composite Business Credit is a type of Lakshmi Vilas Bank Ltd Corporate Loan, just as Lakshmi Easy Loan is a kind of Lakshmi Vilas Bank Ltd personal loan. The bank also offers a mortgage loan by the name of Lakshmi Property Power Loan.

Lakshmi Vilas Bank Contact Address

Registered Office
The Lakshmi Vilas Bank Ltd.
Registered Office,
Salem Road,Kathaparai, Karur - 639006
Tamil Nadu.
LL: 04324 -220051 (10 lines)
FAX: 04324 - 223607
CIN: L65110TN1926PLC001377
Email: [email protected]
  Corporate Office
  The Lakshmi Vilas Bank Ltd.
Corporate Office
LVB House,4/1,Sardar Patel Road,
guindy,Chennai- 600032
Tamil Nadu, INDIA
Toll Free : 1800-425-2233
Email : [email protected]

Lakshmi Vilas Bank Official Website :

www.lvbank.com

Lakshmi Vilas Help Line No :

1800 - 425 – 2233 (Toll Free)

Lakshmi Vilas Bank Informational Data

Name of Bank	Lakshmi Vilas Bank
No. of Offices	247
No. of Employees	2433
Business per Employee (in ` Lakh)	510.00
Profit per Employee (in ` Lakh)	2.07
Interest Income (in ` Crore)	658
Other Income (in ` Crore)	107
Interest Expended (in ` Crore)	504
Operating Expenses (in ` Crore)	152
Return on Assets	0.71
CRAR	10.09
Net NPA Ratio	1.24

Last Updated on May 26, 2015