Product Details
Bank Name
Karnataka Bank
Account Name
Karnataka Bank SB Sugama Zero Balance 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
Yes
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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
Karnataka Bank SB Sugama Zero Balance Account
Special Features
Zero minimum balance.
Eligibility Criteria
A savings account made to reach a vast section of the population.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero minimum balance.
Cons
Low interest rates.
Karnataka Bank SB Sugama Zero Balance Account
The account offers low interest rate, the value add benefits are also minimal.
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.