Product Details
Bank Name
Karnataka bank
Account Name
SB Small Savings 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
No
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Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
Not specified by the bank.
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
SB Small Savings Account
Special Features
Easy access to funds and unlimited transactions upto ₹10,000 per month.
Annual credit limit of ₹1,00,000.
Manage balances below ₹50,000 for easy, daily transactions.
Eligibility Criteria
18 years and above.
All individuals who intend to keep balance not exceeding ₹50,000/- (Rupees Fifty Thousand only) in the account at any point of time. The total credit in the account is not expected to exceed ₹1,00,000/- (Rupees One lakh only) in a financial year. The aggregate of all withdrawals and transfers in a month to not to exceed ₹10,000/- (Rupees Ten thousand only).
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Chequebook facility.
Internet banking, E-commerce, M-commerce, Mobile banking.
ATM card facility.
Cons
Low balance limit.
Low monthly withdrawal limit.
No free debit card.
Application Procedure
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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.