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Karnataka Bank SB Sugama

Karnataka Bank’s new savings account “SB Sugama” makes financial inclusion a very real possibility. This basic banking ‘no-frills’ account makes sure that a large section of the population has access to the benefits of a simple savings account.

Bank Karnataka Bank
Category SB Sugama
Initial Deposit & Minimum Balance to be maintained In rural areas: Rs. 50 In semi urban areas: Rs. 100 In urban areas: Rs. 150 In metro areas: Rs. 200
Debit Card ATM/ debit card facility is not provided with this account
Interest Rate As applicable to normal Savings Bank account

Services Offered with SB Sugama

The following services are provided with Karnataka Bank Savings Account:

Cheque Book Each year, one free cheque book (with 10 leaves) will be provided.
Cash Withdrawal withdrawal slips can be used to make six withdrawals per month
Pass book Pass books will be provided
Outstation cheques Collection of outstation cheques
Nomination Yes
Multi branch banking Yes

Fees and Charges for SB Sugama

Following are some of the charges that SB Sugama account holders will need to pay. The other charges are the same as a general savings account of the bank:

Service / Product Fees & Charges
Issue of Demand Draft Rs. 2/1,000 with a minimum of Rs. 20/- and maximum of Rs. 10,000/-
Cash Withdrawal at non-base branch Rs. 2 per thousand or part thereof with a minimum of Rs. 25
Outstation Cheque Collection Rs. 5,000/- and below: Rs. 25/- From Rs. 5,000/- to Rs. 10,000/-: Rs. 50/- From Rs. 10,000/- to Rs. 1,00,000/-: Rs. 100/- Above Rs. 1,00,000/-: Rs. 2 per Rs. 1,000/- or part thereof Minimum Rs. 200/- and maximum Rs. 20,000
Cash Deposit at non-base branch Free
Stop payment charges Rs. 50/- per instrument. Maximum of Rs. 250/- per instruction.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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