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Product Details

Bank Name

Karnataka Bank

Account Name

KBL SB Salary Account - Classic

Account Type

Salary

Interest Rate

Up to INR 1 Lakh: 2.75%. Above INR 1 Lakh and up to INR 10 Lakh: 2.75%. Above INR 10 Lakh and up to INR 50 Lakh: 2.75%. Above INR 50 Lakh and up to INR 100 Lakh: 3.5%

Free Debit Card

Rupay/VISA Classic

KBL SB Salary Account - Classic
85.7

Account Opening Fees

0

Debit Card Charges

0

Annual Maintenance Fees

0

NEFT Charges

Free

Minimum Account Balance

Nil (minimum monthly salary: Rs 5,000)

IMPS Charges

Free

Fees and Charges of

KBL SB Salary Account - Classic

KBL SB Salary Account - Classic

Special Features

None

Eligibility Criteria

(i) Salaried Employees (Group) Where Employers are already having/proposed to have, CASA Accounts with the Bank. The employer can have arrangement with their Base branch for extending this zero balance salary account facility to all their employees / part of their employees. (ii) Salaried Employee (not as a Group) - Salaried Individuals who intend to get their Salary credited to this account from their employer even though Employer is not having a Salary Account relationship with the Bank.

Benefits

Features, Eligibility and Benefits of

KBL SB Salary Account - Classic

Pros & Cons of

Pros

  • No minimum balance account.

  • Free debit card.

  •  50% concession on loan processing charges.

Cons

  • No jewellery insurance is provided.

  • No personal accident death coverage is available. 

  • No free IMPS service is available.

KBL SB Salary Account - Classic

KBL SB Salary Account - Classic Review

The account comes with low interest rate and offers minimal value add features.

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Review of

KBL SB Salary Account - Classic

Account Opening and Procedure of

How to open an Account?

1. Visit a Karnataka Bank Branch:

  • Locate the nearest Karnataka Bank branch to you.

2. Required Documents:

  • Proof of Identity:Aadhaar Card
    PAN Card (or Form 60 if you don't have a PAN)
    Passport
    Voter ID
    Driving License

  • Proof of Address:Aadhaar Card
    Passport
    Voter ID
    Driving License
    Utility bills (recent)

  • Student ID: A valid student ID card from your school or college.

  • Photographs: Two recent passport-sized photographs.

3. Account Opening Form:

  • Obtain an account opening form from the bank representative.

  • Fill in the form accurately and completely with all the required details.

4. Submit Documents and Open Account:

  • Submit the completed form and all the required documents to the bank representative.

  • The bank representative will guide you through the account opening process.

Application Procedure

KBL SB Salary Account - Classic

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