Karnataka Bank SB Money Sapphire Savings Account
A good savings account will help you save for emergencies, build a fund for short-term goals, and will give you easy access to your cash. Karnataka Bank SB Money Sapphire Savings Account is an exclusive banking product that will offer an array of special facilities to account holders. SB Money Sapphire customers can enjoy the freedom of banking anywhere across India.
Bank | Karnataka Bank |
Category | Karnataka Bank SB Money Sapphire Savings Account |
Minimum Average Balance Requirements (MAB) | Rs. 10, 000 |
Debit Card Offered | Karnataka Bank Money Plant VISA Gold Debit Card |
Interest Rate | 4% per annum calculated on daily balance |
Services Offered with Karnataka Bank SB Money Sapphire Savings Account
Here are some of the services that Karnataka Bank Savings Account holders get to enjoy.
Passbook and e-Statements | Passbook will be offered at a nominal charge. Free monthly e -Statements will be offered on request. |
SMS Alerts | SMS alerts will be free for all customer induced transactions exceeding Rs. 1,000. For transactions below the limit of Rs. 1,000, Re. 1 will be charged per SMS. |
Cheque Book | 50 cheque leaves per calendar year will be offered free of cost. Thereafter, Rs. 4 will be charged per cheque leaf. |
Cash Withdrawal Limit at ATMs | Rs. 40,000 per day |
Internet Banking | Registration is free for internet banking. |
Mobile Banking | Mobile Banking services will be offered free of cost |
Features and Benefits of Karnataka Bank SB Money Sapphire Savings Account
Karnataka Bank SB Money Sapphire Savings Account holders get the following benefits.
Internet Banking | Karnataka Bank SB Money Sapphire Savings Account holders can enjoy banking convenience with Net Banking facility. |
Any Branch Banking | "Any Branch Banking" feature will allow SB Money Sapphire Savings Account customers to operate their accounts from any Karnataka Bank branch across India. |
Easy Fund Transfer | Customers can transfer funds to any bank account in an instant using NEFT and RTGS facilities. |
Free e- Statements | Karnataka Bank SB Money Sapphire Savings Account customers get free monthly e - statements. |
International Debit Card | Karnataka Bank SB Money Sapphire Savings Account customers get Money Plant VISA International Debit Card which can be used at merchant partner stores across the globe. |
Fees and Charges for Karnataka Bank SB Money Sapphire Savings Account
The fees and charges for services offered with Karnataka Bank SB Money Sapphire Savings Account are as follows.
Product / Services | Fees and Charges |
Cash Deposit Charges | At Base Branch - Free At non base branch - Free up to Rs. 1 lakh per month |
Purchase of DD from any branch | Free up to Rs. 50,000 per month |
Fund transfer within the bank from base branch | Within the same clearing zone - Free Outside the clearing zone - Free up to Rs. 1 lakh per month |
Charges for non maintenance of Monthly Average Balance | Rs. 200 per month |
PoS Limit for KBL Debit Card | Rs. 1 lakh |
Local Cheque collection charges | Free if deposited at base location and payable within the clearing zone |
Stop Payment Charges | Rs. 50 per instrument to a maximum of Rs. 250 per instrument |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on Karnataka Bank SB Money Sapphire Savings Account
- What is a Sapphire account?
The SB Money Sapphire Savings Account is a premium savings account, with a monthly average balance (MAB) of just ₹10,000, you unlock a world of exclusive benefits and services that span across the country.
- 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.
- What are the types of accounts in Karnataka Bank?
Premium accounts like Sapphire, Ruby, and Platinum Privileged Savings Accounts require a specific minimum balance. However, accounts like the SB Sugama General Savings and KBL Tarun Student Savings offer zero balance convenience. For more flexibility, our SB General Savings Account has variable minimum balance options.
- Does Karnataka Bank have zero balance account?
In the context of general savings accounts, choosing the right bank with a favorable interest rate is essential. Karnataka Bank offers a competitive 4.5% interest rate per annum on the SB Sugama Zero Balance Account.
- What are the benefits of sapphire?
It is believed to focus and calm the mind as well as remove unwanted thoughts, depression and mental tension. It is known as the stone of new love and commitment and is claimed to be useful in encouraging faithfulness and loyalty.
- What is the limit on sapphire?
The Chase Sapphire Preferred credit limit is $5,000, at a minimum. But some cardholders can get a credit limit higher than that.
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