The Karnataka Bank Savings Account

The Karnataka Bank Limited is a commercial bank based in Mangaluru, in Karnataka. Being an expanding bank, it has already won many Banking Awards. It has around 800 branches now.

 Types of Karnataka Bank Savings Account:

KBL Vanitha

• Any woman who above the age of 18 years can open this type of account.
• It is a zero balance account with no requirement for maintaining a daily minimum balance.
• Average monthly balance should be Rs.1000
• Insurance coverage for jewelry in case of a theft for up to Rs.50000.
• Free transaction limit up to Rs.50000 in the name of the account holder’s wards.
• Multiple branch banking facilities.
• Access to Money Plant VISA Global Debit Card.
• Free services like Net Banking, mobile banking, RTGS, NEFT and online payments.
• Free SMS alerts to notify all transactional activities.

KBL Kishore:

• No minimum balance requirement
• Quick, simple and instantaneous process of account opening.
• No charge for Demand Drafts drawn in favor of educational institutions.
• Transaction limit of Rs.50000 every month from the account of the parents or guardian to that of student.
• Debit cards with “daily” money withdrawal limit of Rs.5000 and limit of Rs.1500.
• Specialized net banking feature of the bank called 'Cyber Kid'.

KB Tarun:

• No minimum balance requirement.
• Quick, simple and instantaneous process of account opening.
• No charge for Demand Drafts drawn in favor of educational institutions.
• Transaction limit of Rs.50000 every month from the account of the parents or guardian to that of student.
• Multiple branch banking as well as multi-city cheque facility.
• Money Plant VISA Global Debit Cards.
• Net Banking, mobile banking, RTGS, NEFT and online payment services for free.
• Free SMS alerts to notify all transactional activities.

KBL Salary Privilege:

• No minimum balance requirement.
• Withdraw and deposit money from any branch with multi-city cheque facility.
• Multiple branch banking as well as multi-city cheque facility.
• Money Plant VISA Global Debit Cards.
• Net Banking, mobile banking, RTGS, NEFT and online payment services for free.
• Free SMS alerts to notify all transactional activities.
• Demand Drafts purchase at any Karnataka bank branch.
• Free cheque books with quick processing of cheques.

Insurance Linked Savings Bank Account:

• Link old accounts with new ones.
• Minimum balance of Rs.15000 (urban branches) and Rs.10000 (rural branches) should be maintained in order to enjoy the available perks.
• Personal accident coverage worth Rs.2 lakhs.
• Hospitalization benefits up to Rs.10000 which includes expenses such as check-ups, medicines and tests.
• In case of a joint account, only the user is protected by insurance.

SB General Scheme:

• Average monthly balance of Rs.1000 is to be maintained failing which, a penalty fee will be charged.  
• Net Banking, mobile banking, RTGS, NEFT and online payment services for free.
• SMS alerts notifying every transactional activity.

SB Sugama:

• Account holders must keep less than Rs.50000 as their total account balance across all their accounts. in their accounts taken together
• Six cash withdrawals per month via bank withdrawal slips, exceeding which, the account holder must pay Rs.10 per transaction.
• Collection of outstation cheques for free.
• Pass book, Cheque book and nomination facility for free
• No access to ATM or Debit Card, multiple branch banking and instant crediting of cheques facilities.

SB Money Platinum:

• Average monthly balance to be maintained is Rs.3 lakhs.
• No access to ATM or Debit Card, multiple branch banking and instant crediting of cheques facilities.

SB Money Sapphire:

• Average Monthly Balance should be Rs.10000.
• Net Banking, mobile banking, RTGS, NEFT and online payment services are free.
• SMS alerts notifying every transactional activities.
• Cash disbursement via RTGS or NEFT systems is free up to Rs.50000 per month

SB Money Ruby:

• Average Monthly Balance to be maintained at Rs.1 lakh.
• Net Banking, mobile banking, RTGS, NEFT and online payment services are free.
• SMS alerts notifying of every transactional activity.
• Cash disbursement through RTGS or NEFT systems is free up to Rs.50000 per month.