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.
