Product Details
Bank Name
Karnataka bank
Account Name
SB KBL ILSB
Account Type
Insurance savings account
Interest Rate
Upto 50 lacs- 2.75% p.a
50 Lacs - 1 Cr : 3.50%
Above 1Cr: 4.50%
Free Debit Card
Yes, eligible for Free international platimum Card
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Account Opening Fees
0
Debit Card Charges
0
Annual Maintenance Fees
0
NEFT Charges
Free
Minimum Account Balance
Rs 15,000 (Metro &Urban)
Rs 10,000 (Semi-urban & Rural)
IMPS Charges
Free
Fees and Charges of
SB KBL ILSB
SB KBL ILSB
Special Features
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
SB KBL ILSB
Pros & Cons of
Pros
Accident insurance coverage of ₹2 lakh at the bank’s cost in accordance with such insurance scheme as maybe in force from time to time.
Permanent partial disability coverage of Rs. 1,00,000.
Hospitalisation cover for reimbursement of hospitalization expenses arising out of accident only for a maximum of ₹10,000/- at the bank’s cost.
Free Platinum International debit card.
Free two NEFT from any branch for any amount
Cons
High monthly average balance requirement.
No zero balance account facility is available.
SB KBL ILSB
SB KBL ILSB
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of 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
SB KBL ILSB
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.