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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