Overview of KBL Kishore Savings Bank Account
Savings and investments can be a challenge for any young mind. However, Karnataka Bank Limited has introduced a special account called the KBL Kishore, which is designed specially for all students aged between 10 years to 18 years. This KBL savings account does not require any minimum balance and is very convenient and simple to operate. Some of the facilities provided with this account include demand draft facility, internet banking, debit card with cash withdrawal and purchase facility, among other features.
|Bank||Karnataka Bank Limited|
|Category||KBL Kishore Savings Bank Account|
|Minimum Balance Requirement||No minimum balance requirement.|
|ATM/Debit Card facility||Karnataka Bank Debit card provided to account holder with cash withdrawal and purchase facility.|
Features of KBL Kishore Savings Bank Account
|Internet Banking Facility||‘Cyber Kid’ internet banking facility provided with this account.|
|Cash Withdrawal Limit via debit card||Account holders can withdraw up to Rs 10,000 on a daily basis.|
|Purchase Limit via debit card||Account holders are can make purchases with their debit card worth Rs 5,000 on a daily basis.|
|Fund Transfer (Inward)||Fund transfer up to Rs 50,000 / per month can be made from a parent’s account to the child’s account, free of charge.|
|Demand Draft facility||Account holder an avail Demand Draft facility, free of charge, for making payments towards examination fee, tuition, prospectus fee, etc.|
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.