Details of the changes in your banking relationship
Section 1 – Changes in Customer Identification Number (Customer ID)
Your Customer ID is the unique number for the bank to identify you and map the various relationships that you hold with us. In the DBS system, this Customer ID is used only in the case of specific correspondences with the bank, and is not used in day-to-day transactions.
- If you already hold a DBS bank Account, the DBS bank Customer ID will continue without any change post migration
- For your erstwhile LVB account, please refer to the following change for your new customer ID
- If you hold an individual account, ‘2L’ will be added as a prefix to your Customer ID
- If you hold a non-individual account, ‘1L’ will be added as a prefix to your Customer ID. Please refer to the table below for an example
Type of account | Change | Existing Customer ID | New Customer ID | ||||||||||||||||
Individual / HUF | The characters 2L will be prefixed to the existing Customer ID | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 2 | L | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
Non-individual | The characters 1L will be prefixed to the existing Customer ID | 8 | 7 | 6 | 5 | 4 | 3 | 2 | 1 | 1 | L | 8 | 7 | 6 | 5 | 4 | 3 | 2 | 1 |
Section 2 – Please note there is no change in your account number
For your convenience, your 16-digit account number will remain the same and there is no change in the IFSC or MICR codes associated to your account. Therefore you can continue to use the same account number.
However, please ensure that you mention the complete 16-digit account number at the time of any inward transaction into your account. In case the sender (or you, if you are filling any form and providing your account details) omits any digit or mentions any number incorrectly, the amount will not get credited into your account and the incoming payment will get declined. Please ensure that the complete account number including the prefix of 0 is mentioned without any errors.
For instance, if your existing account number is “012233445566778” (which is 16-digits including the 0 in the beginning), the earlier banking system on occasions, permitted the account credit to be done even when 15 digits (“122334455667788”) were mentioned. Post-migration, the funds will get credited to your account only if the complete number “0122334455667788” (with all 16 digits) is mentioned.
Also do take note that all beneficiary and standing instructions will be auto migrated and your existing valid cheques (with DBS IFSC & MICR Code) will continue to be honoured, and there is no action expected from you.
Section 3 – Changes in Fixed Deposit account details
The account number of any Fixed Deposit that you hold with us will change from the earlier 16-digit number to a 20-digit number. A suffix of 4 zeroes (0000) followed by 1/2/3 will be added to the end of the existing FD Account number.
Old FD Account Number Format (16 digits) | X | X | X | X | X | X | X | X | X | X | X | X | X | X | X | - | X | |||
New FD Account Number Format (20 digits) | X | X | X | X | X | X | X | X | X | X | X | X | X | X | X | 0 | 0 | 0 | 0 | X |
This system migration brings one more benefit for you – in case your Fixed Deposit is scheduled to mature on a date which is a bank holiday, the proceed of the maturity will be credited on the next working day, and you will be eligible to earn additional interest for the extra day(s).
Section 4 – Changes in Fixed Deposit name and terms
For operational ease, we have consolidated our Fixed Deposit product offerings. The old and new fixed deposit names are mentioned below:
Old FD Name | New FD Name |
Lakshmi sr. citizens (FD) on maturity | Resident Maturity - Short-Term Deposit |
FD others- quarterly interest scheme (old) | Resident Quarterly Payout Deposit |
Lakshmi sr. citizens (FD)- quarterly scheme (old) | |
FD others- quarterly interest scheme | |
Lakshmi freedom deposit | Auto Saver Deposit |
Lakshmi sr. citizens (FD)- quarterly scheme | Resident Quarterly Payout Deposit |
Dhana chakra deposits | Resident Quarterly Compounding Deposit |
Lakshmi sr. Citizen deposits (DCD) | |
NRE - DCD scheme | NRO Quarterly Compounding Deposit |
NRO - DCD | |
E-NRE-DCD quarterly cumulative interest | |
FCNR(b)-DCD (USD) scheme | FCNR Half Yearly Compounding Deposit |
FCNR(b)- DCD (GBP) scheme | |
FCNR(b)- DCD (EURO) scheme | |
FCNR(b)-DCD (YEN) scheme | |
FCNR(b)-FD (USD) scheme | FCNR Deposits with Half Yearly Pay Out |
FCNR(b)-FD (GBP) scheme | |
FCNR(b)-DCD (AUD) scheme | FCNR Half Yearly Compounding Deposit |
E-FD quarterly interest | Resident Quarterly Payout Deposit |
Staff-ex staff-lakshmi freedom dep | Auto saver Deposit |
FCNR(b)-DCD (CAD) scheme | FCNR Half Yearly Compounding Deposit |
FCNR(b)-DCD (SGD) scheme | |
E-senior citizen-DCD (quarterly cumulative) | Resident Quarterly Compounding Deposit |
E-DCD quarterly cumulative interest | |
E-senior citizen-FD quarterly int | Resident Quarterly Payout Deposit |
Lakshmi lakhpathy RD | Resident Recurring Deposit |
Senior citizen recurring deposit | |
Staff sr. citizen – RD | |
Staff-ex staff - FD on maturity | Resident Maturity – Staff Deposit |
Staff-ex staff - DCD | Resident Quarterly Compounding- Staff Deposit |
Ex staff – LSCD (DCD) | |
Staff e-DCD quarterly cumulative int | |
E-staff sr. citizen DCD | |
Staff-ex staff - FD quarterly int | Resident Quarterly Payout – Staff Deposit |
Ex STAFF - LSCD (FD) quarterly | |
E-staff FD - quarterly interest | |
E-staff sr. citizen FD - quarterly interest |
For detailed Terms and Conditions, please click here
Fixed Deposits with cumulative payout can be booked via digibank by DBS; for other Fixed Deposit payout options you may visit your branch.
Section 5 – Changes in Mobile & Internet Banking
Your digital banking experience is about to get elevated with digibank by DBS - your digital banking partner. Your erstwhile LVB internet and mobile banking platforms will soon be migrated to digibank by DBS. Please note that once the migration process is completed, Lakshmi Vilas bank’s internet and mobile banking applications will no longer be accessible.
The following are pre-requisites to link your LVB bank account on digibank by DBS internet banking or mobile banking app:
- You hold a valid Debit Card and PIN – your existing debit card and PIN (Personal Identification Number) will be valid if the expiry date of your debit card is not before the migration date
- Your mobile number is registered with us, and a unique mobile number is linked with your Customer ID
- Your email address and PAN are registered with us which will enable you to retrieve your login credentials in case you forget your login credentials. In case your email ID and PAN are not registered with us, any future requirements for requests may require a personal visit to the branch premises.
In case you need further assistance with the above, please walk into your nearest branch.
Other important changes you need to know about this migration:
- Post migration to digibank by DBS, you will be able to view and change your daily fund-transfer limit. You will be able to transfer funds within the defined limit of up to Rs. 5 Lakh for Mobile Banking, and up to Rs. 20 Lakh (depending on savings account defined limits) for Internet Banking. The above-mentioned limit is applicable for:
- Transferring funds to other DBS bank accounts
- Transferring funds to other bank accounts (IMPS, NEFT, RTGS & UPI)
- Overseas remittances
- Payment via the merchant's website
- Utility bill payments e.g., DTH, mobile prepaid, electricity, etc
- Account statements for period before the migration will not be available on digibank by DBS online banking platforms. Please reach out to our contact centre or visit your nearest branch to request for older account statements
- With digibank by DBS, you will be able to instantly download monthly account e-statements for the period after the migration
- Your transactions through the digibank by DBS app will be secured by a virtual soft token eliminating the need for OTP (One Time Password) making your online transactions even more secure
- The addition of a new payee/biller will be available only through the digibank by DBS app
- The option to choose the frequency of interest payout for a new fixed deposit would be available only through the branch
- If you already have a digibank by DBS account, there is no action needed from your side and your existing Lakshmi Vilas Bank Savings Account will automatically migrate under the existing digibank by DBS app profile
Section 6 – Changes in Savings Account & Debit Card Terms
Savings Account: The balance requirement for your savings account will change from quarterly to monthly. Non-maintenance of the average balance will attract charges as applicable.
Please note the change in name and balance requirements of the following accounts. The detailed Schedule of Charges for the various types of savings accounts can be viewed at the links mentioned below:
Old Savings Account Name | New Savings Account Name | MAB / TRV Requirements of the Savings Account | Link for the Schedule of Charges |
Lakshmi Savings Star Gold | Savings Plus | MAB Rs. 25,000 | |
SB NRE | NRE Savings Plus | MAB Rs. 25,000 | |
Lakshmi Pravasi NRE SB | NRE Savings Power Plus | MAB Rs. 1,00,000 | |
LVB Crown – NRE SB | NRE Treasures | TRV to be maintained at a minimum Rs. 5 Lac | https://www.dbs.com/in/treasures/savings-account/fees-and-charges.page |
SB NRO | NRO Savings Plus | MAB Rs. 25,000 | |
LVB Crown - NRO SB | NRO Treasures | TRV to be maintained at a minimum Rs. 5 Lac | https://www.dbs.com/in/treasures/savings-account/fees-and-charges.page |
Lakshmi Titanium savings account | Savings Power Plus | MAB Rs. 1,00,000 | |
Staff ex-staff -savings bank | Savings Special -Staff | NA | |
LVB Crown savings | Savings Treasures | TRV to be maintained at a minimum Rs. 5 Lac | https://www.dbs.com/in/treasures/savings-account/fees-and-charges.page |
LVB Crown staff account | Treasures Staff | NA | https://www.dbs.com/in/treasures/savings-account/fees-and-charges.page |
Fi-basic savings bank deposit account | BSBDA | Basic Savings Account | |
Lakshmi Kissan savings account | BSBDA | Basic Savings Account | |
MAB – Monthly Average Balance | TRV – Total Relationship Value |
Please note that for savings bank account variants not listed above, kindly refer to for detailed schedule of charges.
Debit card: You can continue using your existing Debit Card till the expiry date mentioned on it without any change in the Debit card number, PIN and CVV number. A fresh Debit Card will be issued to you as per standard practice at the expiry of the existing debit card.
For safety reasons, your existing Debit Card will be auto-activated only for domestic ATM & POS transactions. For activating other modes of transactions or changing transaction limits, log in to digibank by DBS mobile app or visit your nearest branch.
Also please note that your transaction limit settings would be universally applicable for all transaction types for your saving account. You do not require to set multiple transaction limits for different transaction types.
Section 7 – Changes in Current Account Terms
Post the migration, some of the Current Account variants will undergo changes in the name, requirements for Average Quarterly Balance, Schedule of Charges etc.
Old Current Account Name | New Current Account Name | Link for the Schedule of Charges |
Lakshmi current Flexi Account | Business Entrepreneur Account | |
LVB Vyapaar current account | E-Business Lite | |
Lakshmi current diamond | Business Edge Account | |
Lakshmi current diamond plus | Business Edge Preferred Account | |
Lakshmi current krupa account | Business Entrepreneur Account | |
Lakshmi current silver | Business Entrepreneur Account | |
Lakshmi current subham account | E-Business Lite | |
LVB just a dollar (JAD) current account | Business Entrepreneur Account | |
Preferred current account | ODCC | |
Special purpose current account | Business Entrepreneur Account | |
Escrow account | Business Entrepreneur Account | |
CA for financial insutitusions (NBFC) | Business Entrepreneur Account | |
CA EEFC | CA Deposit EEFC |
The complete details of these can be accessed at here.
Section 8 – Changes in Nostro Agent bank
For all your cross-border/import/export transactions, our Nostro details will change to below. Please update your counterparties about this change for sending/receiving money seamlessly.
The list of Nostro Agents used by DBS bank India is as below: | |||||
# | CURRENCY | SETTLEMENT TYPE | CORRESPONDENT BANK | ACCOUNT | SWIFT ID |
1 | USD | ALL | BONY | 8900347880 | IRVTUS3N |
JP Morgan Chase | 199253953 | CHASUS33 | |||
Wells Fargo | 2000291940029 | PNBPUS3N | |||
2 | SGD | ALL | DBS Singapore | 370026018 | DBSSSGSG |
3 | JPY | ALL | Sumitomo Mitsui Banking Corporation Tokyo | 3071 | SMBCPJT |
4 | EUR | ALL | Barclays bank Ireland Frankfurt | DE17503104000210575900 | BARCDEFF |
5 | GBP | ALL | Barclays bank London | 20325343732894 | BARCGB22 |
6 | AUD | ALL | National Australia bank - Melbourne | 1803139547500 | NATAAU33 |
7 | CHF | ALL | UBS Zurich | 02300000036478050000N | UBSWCHZH80A |
8 | HKD | ALL | DBS (Hong Kong) Ltd. | 781143138 | DHBKHKHH |
9 | CAD | ALL | Toronto Dominion bank Toronto | 360012313281 | TDOMCATTTOR |
10 | NZD | ALL | ASB bank Ltd. Auckland | 123121006006200 | ASBBNZ2A |
11 | SEK | ALL | Skandinaviska Enskilda Banken Stockholm | 55558500611 | ESSESESS |
12 | AED | ALL | National bank of Abu Dhabi | 6200586085 | NBADAEAA |
13 | NOK | ALL | DNB bank ASA Oslo | 70010204486 | DNBANOKK |
14 | ZAR | ALL | Standard bank of South Africa Limited | 7225864 | SBZAZAJJ |
15 | CNH | ALL | DBS Hong Kong | 30010720488 | DBSSHKHKHH |
16 | CNY | ALL | DBS China | 30004762188 | DBSSHKHKHH |
17 | THB | ALL | DBS Thailand | 610156 | BKKBTHBK |
18 | DKK | ALL | Nordea bank Denmark | 5000021484 | NDEADKKK |
Section 9 – Changes in Retail Loans
EMI Due Date: Your current EMI date cycle will remain the same. However, if the due date of your EMI falls on a holiday; the EMI will be debited on the next working day.
RBI Repo Rate Harmonization: With effect from 1st March 2022, all your existing loan facilities linked to BPLR (Benchmark Prime Lending Rate) / Base Rate / MCLR floating interest rates have been linked to RBI Policy Repo Rate linked floating interest rate. This will ensure transparency, standardization & quicker transmission of rate benefits. Kindly refer to this document for more details.
Interest Rate Reset: As you are aware that the interest rates for the loan(s) are determined with the RBI Repo Rate as the external benchmark rate. Continuing the erstwhile practice, this interest rate reset basis changes in the external benchmark rates will be on a quarterly frequency of your loan disbursement date. We would like to inform you that with effect from 7th April 2022, we have standardized the benchmark rate reset date to the 7th of every calendar quarter, i.e., on 7th January, 7th April, 7th July & 7th October or the 7th day of the subsequent month in which RBI Repo Rate is changed (whichever is earlier). Kindly refer to this document for more details.
Loan Repayment Adjustment Process: In the loan products where part-prepayment is permitted, any prepayment made in excess of the monthly EMI amount will be treated as part–prepayment, and excess amount will be adjusted against the principal outstanding of the loan account (as of the date of receipt of such prepayment). This will reduce the balance tenure of the loan, thus enabling the loan to be closed faster. Kindly refer to this document for more details.
Section 9.1 – Changes in Personal Loans
If the Personal Loan availed by you is still under repayment, your EMI cycle and EMI amount will remain the same. If the due date of your EMI falls on a holiday, the EMI debit will be debited on the next working day. All the details of your loan will be accessible via the digibank by DBS app. To access this platform, kindly refer to the details given in Section 4.
We would like to bring your attention to the following Schedule of Charges / Terms and Conditions which will be applicable on your loan post the migration.
Foreclosure: Foreclosure of loan can only be done after completion of 6 months from the date of disbursement.
Loan Tenure | Foreclosure Charges on the outstanding amount |
7-12 months | 4.50% flat + GST |
13-24 months | 4.50% flat + GST |
25-36 months | 2.50% flat + GST |
>36 months | 2.00% flat + GST |
Part Pre-payment: Partial pre-payment of loan can only be done after completion of 6 months from the date of disbursement subject to a maximum of 2 pre-payments in a year.
Loan Tenure | Foreclosure Charges on the outstanding amount |
7-12 months | 4.50% flat + GST |
13-24 months | 4.50% flat + GST |
25-36 months | 2.50% flat + GST |
>36 months | 2.00% flat + GST |
Other Charges:
Type of charge(s) | Applicable Charge(s) |
Dishonour of Standing Instruction | Rs. 600/- per instance + GST as applicable |
Penal Interest Rate | 24% per annum i.e. 2% per month on the overdue instalment |
Please contact your branch in case you need any further assistance or details regarding your personal loan.
Section 9.2 – Changes in Mortgage Loans (Home Loans and Loan Against Property)
If the Mortgage Loan availed by you under the earlier LVB system is still under repayment, please refer to the below:
- Schedule of Charges: Please refer to the latest schedule of charges applicable for your loan accounts here.
- Any loan servicing requirements will continue to be serviced by your nearest branch. Please contact your branch manager or a DBS bank representative for any such requirements
- Final Income Tax Certificate: Please note that Final Income Tax Certificate will be shared with you on your registered email address at the end of each financial year. Please get your Email ID registered by visiting your nearest branch
Section 9.3 – Changes in Consumer Loan Against Property (C-LAP)
There is no change in Name, Loan Account Number or Features of the Consumer Loan Against Property (C-LAP) that you may hold with us. Please refer to the latest schedule of charges applicable for your loan accounts here.
Section 9.4 – Changes in Gold Loan
Your existing gold loan account has no change in the name, Loan account number, features or schedule of charges and any terms and conditions.
Section 10 – Always stay alert and aware to prevent fraud
DBS bank India Limited (DBIL) or its employees will never call you & ask for your personal details or email any link to update your sensitive information. Please don't give cash/blank signed cheques/fund transfer forms to DBS staff. Do not click on any link within an SMS/email or any suspicious message claiming to be from DBIL or any other unknown source.
Never share any Passwords/OTPs/Card details like CVV with anyone, even if they claim to be from the DBIL/RBI/other Regulatory bodies, etc. If you receive such requests, please contact us immediately.
Always use a secured network for account activity & check account-related alerts sent from DBIL. Please report any unauthorized transactions immediately.
Frequently Asked Questions
Are there any changes to my Savings/Current Account? Do I need to do anything?
Savings & Individual Current Accounts
The account numbers of your existing Savings / Individual Current accounts will continue to remain the same and your cheques will continue to be honoured. There is no requirement for you to replace your cheques right away. Your existing debit card also will continue to function seamlessly.
A few of the Savings Account / Current Account products have been reviewed and upgraded, leading to changes in their features. Though you will not need to take any immediate action for this upgrade, we request that you visit section 6 on this page for the complete list of changes and the revised Schedule of Charges.
If the specific variant of the accounts held by you is not listed in the section mentioned above, then that existing account will continue as is, without any changes in features or Schedule of Charges.
Customer ID
If you already have a DBS Bank account, your Customer ID from DBS Bank will continue and your LVB accounts will get linked with it, and your old erstwhile LVB Customer ID will no longer be valid.
If you do not have a DBS Bank account, then your Customer ID will change. Please refer to section 1 on this page for details on how your Customer ID will change.
I have existing Cheques/ Debit Card. Can I continue using them?
You may continue using your existing cheques with the current branch details, or request for a new one at your convenience.
Your existing Debit Card will continue to be operational with the same card number, PIN and CVV number till the expiry date mentioned on it. At the expiry of that card, you will receive a fresh card with the corresponding details
Will there be any changes to the Fixed Deposits (FDs) I have with the bank?
Your Fixed Deposit account number will change from a 16-digit account number to a 20-digit account number post-migration. Please refer to section 3 on this page for details. There will be no other change to your ongoing FDs apart from this.
If your Fixed Deposit matures on a date which is a bank holiday, then the maturity amount will be credited on the next working day, and you will be eligible to earn additional interest for the extra days applicable to your Fixed Deposit.
I have Standing Instructions (Debit) for transferring funds to someone else. Will they continue?
The existing standing instructions set up in your account will remain active and will continue to be in effect. Any existing standing instruction can be changed upon a written request at the branch.
I want to receive payments through online credit. Is there any change that I need to know about?
Your IFSC code and account number will not change because of the migration. However, all inward transactions to your account shall be credited only if the complete 16-digit account number is entered by the sender while initiating the payment.
If the sender uses an incomplete account number, the incoming fund transfer shall get rejected.
To avoid any inconvenience, kindly ensure that the sender uses your complete 16-digit account number while transferring the funds. Please refer to section 2 on this page for examples
How will I access my account through online channels? Will my login details change? How do I set it up again?
Your existing LVB mobile banking and internet banking applications will no longer be available after the migration. You will be able to access your account via the ‘digibank by DBS’ mobile app and internet banking platforms.
If you do not hold a digibank account as yet:
- Please download the ‘digibank by DBS India’ app here
- Open the app in your mobile device
- Follow the simple steps for registration, entering the basic details that will be asked on screen
- Your online presence will get set up, and you can then enjoy the convenience of the World’s Best Digital Bank with 24X7 banking anywhere
If you already hold a digibank account:
After the migration is complete, just open the digibank app, and you will be able to access your existing account of the erstwhile LVB system, as well as your digibank account, in the same profile.
The following are pre-requisites to link your LVB bank account on the digibank by DBS mobile banking app or via internet banking
- You will need to hold a valid Debit Card and PIN – your existing debit card and PIN (Personal Identification Number) will be valid if the expiry date of your debit card is not before the migration date
- Your mobile number will need to be registered with us, and a unique mobile number is linked with your Customer ID
- Your email address and PAN will need to be registered with us which will enable you to retrieve your login credentials in case you forget your login credentials.
In case you need further assistance, please walk into your nearest branch.
I have a Personal Loan Account/ Overdraft Account. Will there be any change to my loan repayment details?
Your EMI date cycle, EMI amount and interest rate will remain the same.
All your loan-related details will be accessible via the digibank by DBS mobile app. To access this platform please refer to the question on accessing the account details online.
Should you need any assistance or details regarding your personal loan, please contact your branch manager or a DBS Bank representative at your nearest branch
For foreclosure-related information, please visit section 9.1 on this page
I have a Home Loan/LAP. Will there be any change to my loan repayment details?
Your EMI date cycle, EMI amount and interest rate will remain the same.
- Please note the following aspects of the Loan account-
- Loan Repayment Adjustment Process: Any repayment made in excess of the monthly EMI amount will be treated as part–prepayment, and the adjustment of this excess amount will be against the principal outstanding of the loan account (as on the date of receipt of such repayment by the Bank). This will reduce the balance tenure of the loan, thus enabling the loan to be closed faster.
- RBI Repo Rate Harmonization: With effect from 1st March 2022, all your existing loan facilities linked to BPLR (Benchmark Prime Lending Rate) / Base Rate / MCLR floating interest rates have been linked to RBI Policy Repo Rate linked floating interest rate. This will ensure transparency, standardization & quicker transmission of rate benefits.
- Interest Rate Reset: As you would be aware that the interest rates for the loan(s) are determined with the RBI Repo Rate as the external benchmark rate. As per the erstwhile practice, this interest rate reset basis changes in the external benchmark rates is on a quarterly frequency basis your loan disbursement date. We would like to inform you that with effect from 7th April 2022, we have standardized the benchmark rate reset date to the 7th of every calendar quarter, i.e., on 7th January, 7th April, 7th July & 7th October, or 7th day of the subsequent month in which RBI Repo Rate is changed (whichever is earlier).
- Provision Certificates: Please note that Provisional Interest Certificate will be shared with you on your registered email address at the end of each financial year.
- Schedule of Charges: Please refer to the latest schedule of charges applicable for your loan accounts here
If you need any assistance or details regarding your loan, including foreclosure, please contact your branch manager or a DBS Bank representative at your nearest branch
If you have availed a Loan Against Property, there is no change in name, features or your loan account number.
I have a Gold Loan. Do I need to do anything?
Your loan repayment date, EMI amount and interest rate will remain the same. The loan will continue to be serviced by your current branch
I have a Locker. Do I need to do anything?
Your locker and its contents will continue as is. Hence, you do not need to take any action regarding your Locker account.
I have Long Term Trade Facility/ Letter of Credit/ Bank Guarantee / Business & Govt. scheme loans. Do I need to do anything?
Are there any additional interest rates on Fixed deposits for Senior citizens?
Yes, there is an additional interest rate of 0.50% applicable on Fixed deposits for Senior citizens.
Is there any additional interest rate applicable for a specific tenure?
The interest rates for different tenures are available here and will be displayed in the digibank app at the time of your booking the deposit as well.
Will I be able to download deposit receipts through the digibank mobile app?
Deposit receipts for newly created deposits in the digibank app, will be sent to your registered email address and will also be available in the app for reference.
Can I submit Form 15G/H at the branch?
Yes, you can continue submitting your Forms 15 G/H at your nearest branch.
What are the maturity instructions available to me for deposits? Can I change it through the app?
The maturity instruction options will be available to you at the time of booking the deposit. You can also make changes to the maturity instructions, in the digibank app
Can I open a deposit account through the branch? Will I be able to view that deposit in the mobile app?
Yes, you can always open a fixed deposit at the branch, and it will reflect in the app if you have registered on the app.
I already have an Investment account. Will I be able to view that account in the digibank app?
Customers with an existing investment account who have made investments via the erstwhile FISDOM partnership, can continue to view/transact via the FISDOM app.
All new investments made via the digibank by DBS app, will be visible in the digibank by DBS app.
I have already purchased mutual funds through LVB internet banking, will I be able to view those funds in the digibank mobile app/internet banking?
Customers with an existing investment account who have made investments via the erstwhile FISDOM partnership, can continue to view/transact via the FISDOM app. All new investments made via the digibank by DBS app, will be visible in the digibank by DBS app.
Will I receive my monthly statement automatically at my email address?
Yes, you will receive your monthly statement by email, only if your Email address is registered with the bank.
Will I be able to view and download interest certificates through the digibank mobile app?
Yes, you will be able to view and download your interest certificate on the digibank app after the date of the migration.
Can I visit the branch to submit fund transfer requests and for statements, cash deposits and cash withdrawals?
Yes, you can always visit your branch to submit your fund transfer requests or get your statements or do cash deposits and withdrawals.
Will all my current standing instructions will continue without any interruption?
Yes, all your existing Standing Instructions will continue seamlessly.
Will my existing login credentials of LVB work to access the digibank app?
You will need to create new credentials for logging into the digibank mobile app and internet banking as your LVB credentials will not work.
Can I purchase Insurance through the digibank mobile app?
Yes, you can purchase Health insurance products through the digibank app, after the migration.
I have Gold Loan with LVB. Will I be able to view the details of my loan account(s) in the digibank app?
No, your Gold Loan details will not be visible in the digibank app. Please visit your branch for any assistance regarding the same.
Will my EMIs continue to be debited from my account after migration?
Yes, any EMI, set up for payment through your account, will continue after the migration.
Can I change my postal address through the digibank mobile app?
Yes, you can always change your postal or communication address in the app, without submitting any documents as proof.
I don’t have a Debit card to register on the digibank platform. What should I do?
If you don’t have a Debit Card, we request that you visit your nearest branch and apply for it.