KBL Kishore Young Savings Account
The KBL Kishore Young Savings Account is specially designed for students aged between 10 and 18 years, aiming to grow the habit of saving from a young age. This account simplifies the process of managing finances, providing a range of benefits tailored for the younger demographic. With features like a free debit card, fund transfer options, and no minimum balance requirement, it stands out as an ideal choice for students. The zero balance account for minors encourages financial responsibility, while also offering tools and services that make banking accessible and hassle-free. Whether it’s for paying exam fees, managing daily expenses, or saving for the future, the KBL Kishore Young Savings Account is a perfect companion for young individuals stepping into the world of financial independence. Read more
Why this account is for you
Build your future with our savings accounts
Easy account setup for young savers aged 10–18 with free parental fund transfers*
Open bank account swiftly with your school/college ID
Including Fixed Deposits, Recurring Deposits, Demat Account and more**
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Documents required
- Student ID is mandatory
- Self-attested copy of PAN or duly filled Form 60
- Two recent color photographs of the applicant
- Signature/thumb impression of the applicant on the signature card
- Officially valid ID document as proof of address and proof of identity (Aadhaar card, PAN card, valid passport, driving license, voter ID, NREGA job card duly signed by state government officer, NPR or UIDAI letter mentioning name and address)
As easy as 1,2,3...
Apply for a KBL Kishore Young Savings Account in 3 simple steps
Step 1
Visit your nearest branch
Go to your nearest Karnataka Bank branch
Step 2
Start with your basic details
Provide your basic details and keep your documents handy
Step 3
We’ll take care of the rest
Our branch officials will notify you when your account is opened
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Got questions? We’ve got answers.
No, the KBL Kishore Young Savings Account does not require you to maintain a minimum balance, allowing you to manage your finances without any additional stress.
You will require Proof of Identity (aadhar card, PAN card, driver’s license) and relevant KYC documents of the parent along with your child’s school or college ID to open this account.
Enjoy a 4.5% per annum with the KBL Kishore Young Savings Account.
The debit card comes with a daily cash withdrawal limit of ₹10,000 and an online transaction/purchase limit of ₹5,000.
If you have lost your debit or credit card, or if it has been stolen, you should immediately report the incident to Karnataka Bank to ensure your account's security. You can send an email to info@ktkbank.com detailing the situation. Alternatively, you can call our toll-free customer numbers at 1800 425 1444 or 1800 572 8031. Prompt reporting is crucial to prevent any unauthorized transactions and to secure your account.
The account comes with a free mPassBook, mobile app and SMS alert facility, providing easy access to account information on-the-go.
To download the KBL Mobile Plus app, visit the Google Play Store or Apple App Store on your mobile device. Search for 'KBL Plus' in the store, select the app published by Karnataka Bank, and click 'Install' to download it onto your device.
A savings account is designed for individuals who want to save money and earn interest on their deposits. In contrast, a current account is geared towards businesses and individuals who require frequent and high-volume transactions without interest earnings. Current accounts often come with facilities like overdrafts to accommodate the fluid nature of business transactions.
Your savings account earns interest by applying the annual interest rate to the daily collected balance in your account. The interest is usually compounded quarterly and credited to your account, contributing to the growth of your savings over time.
The MAB for your KBL Kishore Young Savings Account is calculated by adding the closing balance of each day in a month, then dividing that total by the number of days in the month. This figure represents the average balance you've maintained throughout the month.
A savings account like the KBL Kishore Young Savings Account is essential as it teaches kids the value of money and saving from an early age. This child bank account is specially designed for minors, with no pressure to maintain a minimum balance. W this minor account with a zero balance feature, parents can use this opportunity to educate their children about financial responsibility, encouraging them to save their pocket money and understand the basics of banking. By involving them in this process, kids develop a sense of responsibility and learn essential money management skills that will benefit them in the long run. Our minor account with zero balance is designed to teach financial responsibility from a young age. The process for a zero balance minor account opening online is simple, with minimal documents required to open a minor bank account.
Interest rates represent the percentage at which your money grows when deposited or invested. 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 KBL Kishore Young Savings Account. This means that your savings will increase by 4.5% annually, helping your money work for you. Opting for a savings account with a high interest rate like this can significantly guarantee your financial security for your future.
