LVB Branch Mergers and Relocation

Account Related

1. I have a Savings/Current Account

Your Savings / Current account will be transferred to the new branch.  Your account number will remain the same.

2. I have an existing Cheque Book / Debit Card

You may continue using your existing cheque book with the current branch details or request for a new one at your convenience within 3 months after branch relocation.

3. I have Fixed Deposits (FD)

The FD account will get transferred to the new branch and will continue until maturity. Kindly note that pre-closure of the FD may attract a penalty. Please refer to our website for more details.

4. I have Standing Instructions (Debit) for transferring funds to someone else

When your account is transferred to the new branch, the standing instructions will remain active and will continue to be in effect for as long as you choose to keep it active. Any existing standing instruction can be changed upon a written request from a customer.

5. I want to update the branch address in my passbook

Upon request, we will provide the relevant details and attest the same in your existing passbook. You may continue using your passbook as your account number does not change.

6. Till when will my current branch be operational?

Your current branch will be operational till the date mentioned in the letter sent to your communication address. After which, you may visit your new branch for your banking requirements.

If you have not received the letter and need the details of your new branch, please either contact your Branch or our Customer Care at 1860 267 4567.

7. What will happen to my account(s)? How will I access them?

The existing accounts of the current branch will be merged with the new branch as mentioned in the letter sent to your communication address. Your account details will remain the same, and you may continue operating your account seamlessly through our digital channels.

If you have not received the letter and need the details of your new branch, please either contact your Branch or our Customer Care at 1860 267 4567.

8. Can I change my branch from the new branch to some other branch?

As mentioned earlier, your account can be seamlessly operated through our digital channels or the other branches in our network. However, should you wish to transfer your account to any of our other branch locations, we would be happy to help you with the same.  Please submit a request at the branch where you wish your account to be transferred to. Our branch team will take care of initiating the change.

9. How do I close my bank account? I don’t want my account to be moved to new branch. Please close my accounts, loans etc.

We regret that you are thinking of closing your relationship with us. We request that you continue banking with us as you can be assured of a seamless and uninterrupted service at your new branch. If you would like to change this decision anytime in the future, you can always connect with us and we would be happy to assist you with whatever queries you may have regarding the process.

10. Do I need to go through a new account opening procedure if I opt to continue with a different branch location?

No. you do not need to go through an account opening process, unless you have submitted your account closure request at your old branch before the branch closure date as your account will automatically get transferred to your new branch.

11. What will happen to the funds in my account?

The funds in your account will be transferred along with your account to your new branch. You can be assured of a seamless and uninterrupted service at your new branch.

12. Will my account category change (Upgrade / Downgrade)?

No, your account category will not change, if your account gets transferred to the new branch location.

13. Can I deposit the cheque in my account in the old branch after branch closure? Is there any drop box facility to deposit my cheques?

No, there will not be any drop box facility at your old branch location. Going forward, please deposit the cheques at either your new branch or at any other branch location across the country.

14. What will happen to my Fixed Deposits (FD)? How will I get interest/proceeds of the FD?

The FD account will get transferred to your new branch and will continue until maturity. Your maturity instructions will remain unchanged unless you submit a request to make changes.

15. Will there be a change in interest rate?

Any changes in Savings Account and Fixed Deposit interest rate will be informed to you, as and when they are revised. You can also either contact your branch for the current interest rates or visit our website.

16. Will there be change in Minimum balance requirement if my account is transferred to the new branch location (Metro/Urban/Semi Urban/Rural/Semi Rural, etc.)?

If there is a change in the account product features, including any changes in the Minimum Balance requirement, the same shall be informed to you. You can also visit our website for details on our Schedule of Charges on our different account types.

17. What will happen to the debit standing instruction (SI) given by me?

Your debit-related Standing Instructions will remain active and continue to be in effect, till instructions are received for its modifications or cancellation.

18. What should I do with the cheque books and my Debit Card?

You may continue using your existing cheque book with the current branch details or request for a new one at your convenience within 3 months after branch relocation. You can continue using the same Debit Card with your existing PIN. If you have exhausted your cheques, kindly place your request for the new cheque book, which will be issued to you at no additional cost and will include your new branch details.

Do note that if there is any change in your communication address, you update the same before placing the request.

Also, in case you wish to receive funds from external sources, do ensure that you remember to inform all your payers/family/friends on the new IFSC code that is mentioned in the communication/letter sent by us.

19. Will you reissue new documents (FD receipts, Loan NOC, Account confirmation letter, etc.) that I was holding with this branch?

You can place a request at your new branch for any ad-hoc document you need. Please be assured that we will continue to service you seamlessly and without any interruptions.

20. What will happen if someone remits funds to me after the branch closure? Will I get the funds, or will it be returned?

The funds will be credited to your account, if it is active, as your account is simply going to be transferred to the new location and that will have no impact

Loan Related

1. I have a Personal Loan Account/ Overdraft Account

Your Loan account will be transferred to the relocated branch

2. I have a Home Loan/LAP

Your Loan account will be transferred to the relocated branch. However, you may continue to avail of various services (loan prepayment etc.) seamlessly as before, from any other branch.

3. I have a Gold Loan

Your Loan account will be transferred to the relocated branch, along with the gold jewellery collateral, which will continue to be safely stored in the new premises.

4. What will happen to the Personal /Home loan taken by me?

Your loan will be active and continue with your new branch. You will not be required to pre-close the loan owing to the closing of the branch.

If you need any assistance or have any questions, please contact your Branch or our Customer Care at 1860 267 4567.

5. Will this have any impact on my Loan repayment, as my EMI is being paid through a non-DBS bank account?

The merger of your old branch with your new branch will not have any impact on your loan repayment. However, you will need to update the new branch IFSC code in your other bank account payee details/standing instructions. Hence, we request you to ensure that you do the same as soon as possible.

6. Will the merged branch be also servicing asset/loan products?

Yes, your new branch location will be servicing all your accounts held with us. Please be assured of a seamless and uninterrupted service at your new branch.

7. What will happen to the Gold loan taken by me and the ornaments/gold I have deposited with the Bank?

Your Gold loan will remain active and continue with your new branch. You will not be required to pre-close the loan owing to the closing of the branch and may be rest assured that your ornaments/gold deposited with us is safe.

If you need any assistance or have any questions, please contact your Branch or our Customer Care at 1860 267 4567.

8. Is my jewellery safe? Can I verify the contents before the merger of the branches?

We would like to assure you that your gold/ornaments is safe with the bank. However, we would be unable to let you access and verify the contents as they are under the custody of the bank and only a few selected officials of the bank have access to them.

9. In case of closure of accounts, who will bear the exit charges, if any, for deposits, loans etc.?

Kindly note that your accounts will continue with your new branch as per the existing terms and conditions. If you close your account and if any pre-closure charges are applicable, we will inform you at the time of acceptance of request including if any waiver is possible.

Online Banking Related

1. I want to receive payments through online credit

With effect from the date of transfer (mentioned in the letter), the IFSC code of your account will change after the merger with the new branch. To ensure that you continue receiving funds via NEFT, RTGS etc. from your remitters after the relocation date, please ensure that you inform them and make changes to incoming standing instructions if any, about the new IFSC code and the effective date.

2. I want to access my online banking account

You may continue to use our online banking platform with your existing credentials, till the account is active.

Locker Related

1. I have a Locker

Your locker and its contents will be safely shifted to the relocated branch.

We will ensure the utmost care while shifting the lockers, however, if you prefer to do the transfer yourself, please feel free to withdraw your belongings from the current branch 7 days before the date of the relocation and then visit the new branch to deposit them once again.

Important: Kindly note that the bank will not be responsible for any damages to the contents during the shifting.

2. I have a Locker in the branch which is being closed for relocation. Will you assign me a new locker in the new location?

Kindly note that your locker will be relocated to your new branch location. We will ensure the utmost care while shifting the lockers, however, if you prefer to do the transfer yourself, please feel free to withdraw your belongings from the current branch 7 days before the date of the relocation and then visit the new branch to deposit them once again.

Important: Kindly note that the bank will not be responsible for any damages to the contents during the shifting.

If you need any assistance or have any questions, please contact your Branch or our Customer Care at 1860 267 4567

3. Will a new locker number be reissued at the new branch? How do I collect the keys to the new locker allotted to me?

Any change in the locker related details will be informed to you at the new branch location. However, your keys to your locker will remain the same.

4. Who will shift the locker contents to the locker at the new branch?

Kindly note that your locker will be relocated to your new branch location. If you are concerned about the contents, you may clear the locker before it is moved and deposit the content once it has been installed in the new branch.

Important: Please note that the bank will not be responsible for any damages to the contents during the shifting.

Other Services Related

1. I have Long Term Trade Facility/ Letter of Credit/ Bank Guarantee / Business & Govt. scheme loans

The accounts will get transferred to the relocated branch

2. I have invested in Investments/Insurance Products

Your investments will not get impacted and you may continue investing through our digital channels

3. Who can I contact in case of any other queries or requirements?

You may contact your branch as per the details mentioned in the letter sent to your communication address, or our Customer Care at 1860 2674567 for any of your banking requirements.