LVB issues Visa Debit Gold Card for premier customers

Lakshmi Vilas Bank (LVB) today said it has introduced Visa Debit Gold Card for its premier customers, in addition to the classic card presently being issued by the bank.

The card has a transaction limit of Rs 50,000 on the ATM and Rs 1,00,000 on the point of sales terminal and each card holder will get a free personal accident insurance policy worth Rs 2,00,000, the bank said in a statement issued.

"There was a persistent demand from customers for higher transaction limit on the ATM and point of sales, with the introduction of this facility, this demand has been addressed," it said.

The private sector bank said its savings bank account holders could also avail the facility if certain average balance was maintained.

"The customers can enjoy the benefits of loyalty points which can be exchanged for gifts," it said.

Persistent demand from customers for higher transaction limit on the ATM and point of sales, prompted the bank to introduce the new product, it said.

The bank envisages that the product will help to mobilise its Current account Savings Account (CASA) ratio, but did not divulge its current CASA ratio.

Lakshmi Vilas Bank has over 1.70-million accounts through its 274 branches, spread across 15 states and one union territory and has a network of over 205 ATMs.