KBL Salary Privilege Savings Account
KBL Savings Account is a zero minimum balance account offering multi-branch access, NEFT/RTGS fund transfers, internet banking, and an international VISA debit card. It also includes SMS alerts, cheque book, free e-statements, demand drafts, and cash deposit/withdrawal services.
Salary accounts are a great way to manage our monthly earnings. Karnataka Bank Limited introduces the KBL Salary Privilege Savings Account for all individuals who are employed with a reputed organization and draw a regular / monthly salary. This account comes with a host of special features and services which will help you maximize your savings and also manage your finances in a convenient manner.
Bank | Karnataka Bank Limited |
Category | KBL Salary Privilege Savings Account |
Minimum Balance Requirement | This account is a zero minimum balance account. |
ATM / Debit Card | Account holders will be issued a Money Plant VISA International Debit Card. |
Features of KBL Salary Privilege Savings Account:
Multi-city Cheque facility | This account provides multi-city cheque facility |
Online Fund Transfer (NEFT / RTGS) | Transfer funds easily between different banks via NEFT or RTGS. |
Fund Transfer (within bank) | Account holders can make fund transfers within the bank up to a specified limit, free of charge. |
Internet Banking facility | Internet Banking facility is available. |
Demand Draft facility | Account holders can purchase demand drafts from any Karnataka Bank Limited branch. |
Cheque book facility | Cheque book facility is available. |
SMS Alert facility | SMS alert facility is provided free of charge. |
Statement of Account | Account holders can keep a track of their account activity with the help of e-statements which will be provided, free of charge. |
Cash Deposit & Withdrawal | Customers can make cash deposits and withdrawals at any KBL branch. |
Collection of Cheques | Fast collection of cheques. Account holders can deposit cheques at any KBL branch. |
KBL Salary Privilege Savings Account Interest Rates:
The interest rates for KBL Salary Privilege savings account are mentioned below -
Tenure | Interest Rate (p.a.) |
Up to Rs.1 lakh | 2.75% |
Above Rs.1 lakh till Rs.10 lakh | 2.75% |
Above Rs.10 lakh till Rs.50 lakh | 2.75% |
Rs.50 lakh to Rs.100 lakh | 3.50% |
Above Rs.100 lakh | 4.50% |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on KBL Salary Privilege Savings Account
- How can I start a savings account with Karnataka Bank?
Online account opening is the most convenient and hassle-free approach to start a savings account. The steps are rather straightforward. You will be required to update some documents and provide some information. When the documents have been accepted, the bank will send you an email confirming the approval and outlining the following steps. You can stroll into the closest branch to open an account if you don't want to do it online.
- What is the interest rate on a savings account with the Karnataka Bank?
The savings account's interest rate may increase to 4%.
- Who may create a savings account with Karnataka Bank?
Karnataka Bank Savings accounts can be opened by Indian citizens, trusts, societies, organizations, and minors (with parental supervision).
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