Karnataka Bank| Karnatak Bank SB General Accountaccount Interest Rates, Minimum Balance, Features

Product Details

Bank Name

Karnataka Bank

Account Name

Karnatak Bank SB General Account

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

KBL debit card

Account Opening Fees

INR 0

Debit Card Charges

Free of cost first year after that INR. 200/-

Annual Maintenance Fees

INR 0

NEFT Charges

Free if done online.

Minimum Account Balance

Monthly Average Balance Without Cheque book: INR 500 for urban, metro and semi-urban branches. INR 200 for all other branches. With Cheque Book: INR 2,000 for urban, metro and semi-urban branches. INR 1,000 for all other branches.

IMPS Charges

Free if done online.

Fees and Charges of

Karnatak Bank SB General Account

Special Features

None.

Eligibility Criteria

• Indian resident.
• Minimum age of 18.

Benefits

Features, Eligibility and Benefits of

Karnatak Bank SB General Account

Pros & Cons of

Pros

• Free NEFT and IMPS transfer if done online.
• Karnataka bank provides offers/discounts from time to time to its users.

Cons

• Limited value add features.
• Low interest rate.

Karnatak Bank SB General Account

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

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

Karnatak Bank SB General Account

Account Opening and Procedure of

How to open an Account?

Here's how to open a Karnataka Bank General Savings Bank 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 from the bank counter.
• Fill out the form accurately with your personal details.

3. Submit Required Documents:

• Identity Proof: Aadhaar Card PAN Card Voter ID Passport Driving License
• Address 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.

Application Procedure

Karnatak Bank SB General Account