How To Apply Karnataka Bank Account | Karnataka Bank Account Opening Form | Types of Karnataka Bank Savings Account
The Reserve Bank of India has designated Karnataka Bank, an important banking institutionsituated in the seaside town of Mangalore, as an A1+-class scheduled commercial bank. It currently has a substantial presence in the country, with over 678 branches spread around the country. Let’s take a look at the Karnataka Bank Account Opening and other related details.
Table of Contents
Types of Karnataka Bank Savings Account
SL. No.
Savings Bank Account Name
Purpose
1
KBL Vanitha
Savings Bank Account for Ladies
2
KBL Kishore
This is the Savings Bank Account for students from age 12 to 18.
3
KBL Tarun
This is the Savings Bank Account for students from age 18 to 25 and can be operated from any branch.
4
KBL Salary Privilege
This is the Savings Bank Account for salaried individuals.
5
SB GEN (General)
This is the Savings Bank Account with additional perks
6
SB Money Sapphire
This is a customized Savings Account with plenty of complimentary features and facilities.
7
SB Money Ruby
This is a customized Savings Account with plenty of complimentary features and facilities.
8
SB Money Platinum
This is the Savings Bank Account Plan with plenty of perks.
9
Insurance-Linked Savings Bank Account
This is the SB Account with Personal Accident/ Hospitalization Cover.
10
SB Sugama
This is the Simple Savings Bank Deposit Accounts.
11
SB – SMALL
This is the Savings Bank Account with no frills attached with fiscal inclusion.
Maintaining a specified minimum balance is not required.
The account opening procedure is quick, easy, and simple.
If you want to send Demand Drafts to your university, college, or institute to pay tuition, prospectus fees, or exam fees, Karnataka Bank does not charge you.
You can transfer payments up to INR 50,000 per month (from the parent’s or guardian’s account to the student’s account).
Debit cards come with a “daily” money withdrawal limit of INR 5000 and a purchasing limit of INR 1500 (PoS or Ecommerce portals).
You can use the bank’s ‘Cyber Kid’ online banking service.
KBTarun(Karnataka Bank Account Opening)
Bank
Karnataka Bank
Category
KB Tarun
Average Monthly Balance Requirement
Nil
Card Offered
Visa Debit Card
KB Tarun’s Features and Benefits:
You are not required to maintain a specified minimum balance.
Opening an account is a straightforward and quick process.
If you want to send Demand Drafts to your university, college, or institute to pay tuition, prospectus fees, or exam fees, Karnataka Bank does not charge you.
You can transfer payments up to INR 50,000 per month (from the parent’s or guardian’s account to the student’s account).
You can take use of multiple branch banking and multi-city cheque facilities because of the bank’s extensive nationwide presence.
Money Plant VISA Global Debit Cards offer a variety of benefits.
Net Banking, mobile banking, RTGS/NEFT, and online payment are all available for no charge.
You can sign up for free SMS alerts and monthly e-statements that will keep you up to date on all transactional activity.
Demand Drafts can be obtained at any bank branch in Karnataka.
Get free cheque books and enjoy the convenience of speedy cheque processing.
Insurance Linked Savings Account Features and Benefits
You can use this service for both your current savings account and the one you’re about to start.
If your account is in a metro branch, you must keep a minimum balance of RS.15,000, and if your account is in a semi-urban or rural bank branch, you must maintain a minimum balance of RS.10,000.
A personal accident cover of RS.2 lacs is included.
Hospitalization benefits cover up to RS.10,000 in expenses such as check-ups, medicines, and testing.
Accident insurance coverage will start on the 31st day after you open your Karnataka Bank Savings Account.
Only the principal account user is protected in a joint account, not both stakeholders.
