Product Details
Bank Name
Karnataka Bank
Account Name
KBL Vanitha
Account Type
Savings
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
Classic Debit Card
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Account Opening Fees
INR 0
Annual Maintenance Fees
INR 0
Minimum Account Balance
Monthly Average Balance
INR 2,000 for urban, metro and semi-urban branches. INR 1,000 for all other branches.
Debit Card Charges
Free of cost for first year after that INR. 200/-
NEFT Charges
Free if done online.
IMPS Charges
Free if done online.
Fees and Charges
KBL Vanitha
Special Features
Free jewellery insurance upto INR 50,000.
Eligibility Criteria
Accounts can be opened by all females aged 18 years and above.
Joint account is permitted with females only.
Indian resident.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Provides free “All Risk" insurance cover for jewellery covering loss due to snatching while travelling, theft while in hotel stay, burglary while at home for ₹50,000/- exclusively to the first named woman of the account.
Free debit card for 1st year.
Free NEFT and IMPS transfer.
Cons
Low interest rate.
Karnataka Bank has limited ATM and branch network.
KBL Vanitha Review
The account is only for women. It offers few value add features. The account has low interest rate. Overall the account has limited appeal.
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
Product Review
Account Opening and Procedure
How to open an Account?
1. Visit a Karnataka Bank Branch:
Locate the nearest Karnataka Bank branch to you.
Visit the branch during business hours.
2. Obtain an Account Opening Form:
Request an account opening form specifically for the "Vanitha Account" from the bank counter.
Fill out the form accurately with your personal details.
3. Submit Required Documents:
Identity Proof:
Aadhaar CardPAN Card
Voter ID
Passport
Driving LicenseAddress Proof:Aadhaar Card
Passport
Driving License
Utility bills (electricity, water, gas)
Rental agreement
Photographs: Two passport-sized photographs.
4. Make an Initial Deposit (Optional):
While not mandatory, it's advisable to make an initial deposit to activate the account.
The minimum balance requirement may vary, so inquire at the branch.
5. Account Activation:
The bank will verify your documents and activate your account.
You will receive your account number, passbook, and other relevant details.