Product Details
Bank Name
Karnataka Bank
Account Name
KBL Wise Senior Citizen Savings Account Signature
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
NFC Classic Visa / NCMC Rupay Domestic Debit Card
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Account Opening Fees
0
Debit Card Charges
0
Annual Maintenance Fees
0
NEFT Charges
Free if done through net banking/mobile banking.
Minimum Account Balance
Minimum monthly average balance of Rs. 5,000
IMPS Charges
Free if done through net banking/mobile banking.
Fees and Charges of
KBL Wise Senior Citizen Savings Account Signature
KBL Wise Senior Citizen Savings Account Signature
Special Features
Users will get health checkup vouchers of up to Rs. 1000.
HospiCash benefits of up to Rs. 30,000.
Free NFC Classic Visa/NCMC Rupay domestic debit card.
Eligibility Criteria
Only senior citizens are eligible to open this account.
Benefits
Features, Eligibility and Benefits of
KBL Wise Senior Citizen Savings Account Signature
Pros & Cons of
Pros
Account exclusively designed for senior citizens.
HospiCash benefits of up to Rs. 30,000.
Free NFC Classic Visa/NCMC Rupay domestic debit card.
Special interest rates for fixed deposits.
Cons
Low interest rate.
KBL Wise Senior Citizen Savings Account Signature
KBL Wise Senior Citizen Savings Account Signature
The account offers a low interest rate. The account comes with certain value add benefits for senior citizens like health check up vouchers worth INR 1,000, HospiCash benefits of up to INR 1,000.
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 Wise Senior Citizen Savings Account Signature
Account Opening and Procedure of
How to open an Account?
To open a KBL Wise Senior Citizen Savings Account with Karnataka Bank, follow these steps:
Visit a Karnataka Bank Branch: Locate the nearest branch to your residence.
Required Documents:Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID, Driving License
Proof of Address: Aadhaar Card, Passport, Voter ID, Driving License, Utility Bills
Age Proof: Age-related documents like a birth certificate or pensioner ID card
Photographs: Two recent passport-sized photographs
Account Opening Form: Obtain an account opening form from the bank representative and fill it out accurately.
Submit Documents and Open Account: Submit the completed form and all required documents to the bank representative. They will guide you through the account opening process.