Lakshmi Vilas Bank (LAKSHVILAS) is a private sector banking institution. It was incorporated on Nov. 3, 1926 and became a scheduled commercial bank in August 1958.
The bank serves banking needs like savings accounts, fixed deposits and loans. It offers NRI services in USA, Canada, Europe, Asia Pacific and the Gulf. It has an online presence with tele-banking facilities and issues credit cards. It is the corporate agent of AVIVA Life Insurance Company India for distributing their life insurance products in India through the bank's select branches with products like Easy Life Plus, Pension Plus, and Amar Suraksha.
The bank has distribution arrangement with asset management companies such as Reliance, Franklin Templeton, Sundaram, SBI, Pru-ICICI, Kotak, HDFC, Chola, UTI and Tata for making available mutual fund products to customers. It has a network of 236 branches, spread over 11 states and the union territory of Pondicherry as on March 31, 2007. The bank plans to extend core banking solutions to 200 branches before March 31, 2008, covering 90 per cent of bank`s business. It also plans to open 15 new branches across the country in 2007. The registered office of the bank is at Salem Road, Kathaparai, Karur-639006, Tamil Nadu.
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