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February 26, 2020

Lakshmi Vilas Bank rolls out VISA Signature Card

Indian private sector lender Lakshmi Vilas Bank (LVB) has unveiled the new VISA Signature Card, enabling users to withdraw up to INR2,00,000 ($2,791) cash from ATMs on a daily basis.

The card can be used at more than 1.9 million ATM locations across the globe.

At present, tens of millions of merchants worldwide accept the card.

The new offering offers Crown and Retail Customers access to a host of deals, discounts as well as privileges.

The card offers rewards to users, with higher spenders having the ability to earn more rewards.

Users of the card can also get additional lounge access and personal accident insurance. Besides, they can access Visa Concierge Services over the phone or online.

Additionally, users can get replacement card within 24 hours.

LVB was established in 1926 by a group of seven businessmen in Karur, headed by V.S.N. Ramalinga Chettiar.

It secured a banking licence from RBI in 1958. Initially, the bank’s aim was to serve the Indian state of Tamil Nadu.

Between 1961 and 65, the bank acquired nine other banks, bolstering its reach.

In 1974, it started expanding its branch network beyond Tamil Nadu. It eventually expanded operations to Andhra Pradesh, Karnataka, Kerala, Mumbai, New Delhi, and Kolkata.

At the end of June 2019, LVB had 563 branches.

 

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