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KBL Vanitha Savings Bank Account

Managing finances can be a challenge for anyone who is new to the world of investing. One must exercise caution while taking decisions regarding financial investments. Beginner investors rely on the facility of savings accounts to maximize their savings in the initial years. To provide its women customers with the benefits of a savings account, Karnataka Bank Limited has introduced KBL Vanitha. This savings bank has been designed especially for women to not only encourage the habit of saving but also allow you to manage your finances in the best manner possible.

The KBL Savings Account presents you with some of the most beneficial features, convenience of operation and flexibility of usage. All women who are above the age of 18 years are eligible to open this account, which can also be opened jointly with another female only. This savings account comes with a host of services like online fund transfer, online banking facility, mobile banking, utility bill payment facility, KBL debit card transation, insurance cover for loss of jewellery due to snatching while travelling, multi branch banking facility and many more similar features. Read on to find out more about what the KBL Vanitha Savings Account offers you.

Karnataka Bank Savings Account Interest Rates

Type of account Day-end Balance Rate of Interest (% per annum)
All SB accounts including NRE & NRO accounts Up to and including Rs.1 lakh 2.75
Above Rs.1 lakh and up to Rs.10 lakh 2.75
Above Rs.10 lakh and up to Rs.50 lakh 2.75
Rs.50 lakh and up to Rs.1 crore 3.50
Above Rs.1 crore 4.50

Minimum Balance Requirement

Bank Karnataka Bank Limited
Category KBL Vanitha
Minimum Balance Requirement Account holders must maintain a minimum Monthly Average Balance (MAB) of:
  • Rs 1,000 - Semi Urban, Rural, and Financial Inclusion
  • Rs.2,000 – Metro and Urban
Interest Interest will be calculated on the daily account balance.
ATM Card Facility Account holder will be issued a MoneyPlant VISA International Debit Card.

Features of KBL Vanitha Savings Bank Account

Minimum Initial Deposit Requirement This account can be opened with ‘Zero Balance’. There is also no requirement of maintaining a daily minimum balance.
Internet Banking Facility Available
Mobile Banking Facility Mobile banking (m-commerce) facility is available free of charge.
Online Payment via Debit Card You can easily make payments for online transactions via your MoneyPlant VISA debit card.
SMS Alert Facility SMS alert facility will be provided, free of charge, for all debit and credit card transactions of Rs 5,000 and above in value.
Monthly Account Statement Account holders will be provided with monthly e-statements for their account activity, free of charge.
Online Fund Transfer (NEFT/RTGS) Customers can avail the facility of NEFT and RTGS for making speedy inter-bank fund transfers.
Cheque Book Facility Provided.
Multi-branch Banking facility Yes.

Additional Features of KBL Vanitha Savings Bank Account

Insurance Cover Account holders will be provided with ‘All Risk’ Insurance cover worth Rs 50,000, which protects against loss of jewellery as a result of snatching while travelling, burglary while at home and theft during a hotel stay. This cover will be provided to the primary account holder named in registered with the bank.
Fund Transfer Account holders will be permitted to make fund transfers & These can be done free of charge..
Utility Bill Payment facility Facility is available.
Mobile Recharge facility Facility is available.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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