Product Details
Bank Name
Karnataka bank
Account Name
Karnataka Bank SB Money Ruby (Privilege)
Account Type
Savings
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
Annual Maintenance Fees
0
Minimum Account Balance
Rs. 1,00,000
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
Karnataka Bank SB Money Ruby (Privilege)
Special Features
Free personal accident coverage of ₹ 10,00,000 (for first holder only).
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free personal accident coverage of ₹ 10,00,000 (for first holder only).
Free Platinum International debit card.
Free Internet/Mobile Banking facility. Free Mobile Apps – mPassBook, BHIM KBL UPI APP.
Free monthly e-statements (on registration).
Free 200 cheque leaves in a calendar year.
Cons
High monthly average balance requirement.
No zero balance account facility is available.
Karnataka Bank SB Money Ruby (Privilege) Review
The account comes with low interest rate and offers average 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
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.
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.