Karnataka Bank SB Money Ruby Savings Account
A premium savings account scheme specially crafted for High Net Worth Individuals, Karnataka Bank SB Money Ruby Savings Account comes loaded with exclusive benefits. This savings account is optimized to offer maximum privileges while also catering to investments and insurance needs of the customer. KBL Savings Account customers get to enjoy advantages like 24/7 customer care, unlimited cheque leaves, missed call banking facility and insurance coverage.
Bank | Karnataka Bank |
Category | Karnataka Bank SB Money Ruby Savings Account |
Minimum Average Balance Requirements (MAB) | Rs. 1 lakh |
Debit Card Offered | Karnataka Bank Money Plant VISA Gold Debit Card |
Interest Rate | 4% per annum calculated on daily balance |
Services Offered with SB Money Ruby Savings Account
The following services are offered to Karnataka Bank SB Money Ruby Savings Account customers.
Cash Withdrawal Limit at ATMs | Rs. 40, 000 per day |
SMS Alerts | SMS alerts for all customer induced transactions exceeding Rs. 1,000 will be free of cost. For all transactions below Rs. 1,000, SMS Alerts will cost Re. 1 per SMS. |
Cheque Book | Free unlimited number of personalized cheque books. |
Internet Banking | Registration is free for internet banking. Utility bill payments and fund transfer within the bank up to a prescribed limit will not attract any charges from the bank. |
Passbook and e-Statements | Passbook will be offered at a nominal cost. Free monthly e -Statements will be available on request. |
Features and Benefits of Karnataka Bank SB Money Ruby Savings Account
Given below are some of the features and benefits that come with Karnataka Bank SB Money Ruby Savings Account.
Personal Accident Coverage | Karnataka Bank SB Money Ruby Savings Account customers get free personal accident coverage of up to Rs. 10 lakhs |
24/7 Customer Service | Karnataka Bank SB Money Ruby Savings Account holders can contact the customer care centre anytime to get their queries cleared. |
Free Mobile Apps | mPassBook and ApnaApp mobile apps will take banking to a whole new level of convenience. |
Unlimited Cheque Leaves | Karnataka Bank SB Money Ruby Savings Account HNI customers get unlimited personalized cheque leaves. |
Anywhere Cash Deposit | Using this feature, the account holder or any person authorized by the account holder can deposit cash at any Karnataka Bank branch. |
IMPS Fund Transfer | SB Money Ruby Savings Account holders can transfer money to other accounts in an instant using the IMPS facility through the Mobile Banking facility. |
Account Portability | Customers can transfer their SB Money Ruby Savings Account from one bank branch to another without having to change their account number. |
Missed Call Banking Facility | Customers can just give a missed call to 1800 425 1445 for balance enquiry and 1800 425 1446 for mini statement. |
Fees and Charges for SB Money Ruby Savings Account
The charges for various banking services that come with Karnataka Bank SB Money Ruby Savings Account are as given below.
Product / Services | Fees and Charges |
Charges for non maintenance of MAB | Rs. 200 per month and total amount of concession for that particular month. If the default persists for more than three consecutive months, the account will be converted to normal savings account. |
Payment of Multicity Cheques | Free at all centres |
Cash Withdrawal at bank branch | At Base Branch - Free At Non - Base Branch - Free up to Rs. 5 lakhs per day and after that, Rs. 3 per thousand or part thereof with a minimum of Rs. 30 will be charged. |
PoS Limit for Karnataka Bank Debit Card | Rs. 1 lakh per day |
Debit Card | Money Plant International Visa Debit Card |
Cheque collection charges | At base location within the clearing zone - Free Speed Clearing - Free |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQson Karnataka Bank SB Money Ruby Savings Account
- What is the minimum balance for SB account in Karnataka Bank?
A monthly average balance of Rs. 1000 must be maintained, or a penalty fee will be levied. Free internet banking, mobile banking, RTGS, NEFT, and online payment services. Every transactional activity is alerted through SMS.
- Can I withdraw money from SB account?
In many cases, yes. You should be able to withdraw money from your savings account at an ATM. After you insert your card and punch in your PIN, you should be able to choose the account to withdraw money from, such as your savings or checking account.
- Can we transfer money from SB account to current account?
Since it is not possible to convert a savings account into a current account, a customer can open a new current account and close their savings account. It is no hassle to close a savings account. The customer will need to visit the bank branch in person and fill out an account closing form.
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