SB Money Ruby Savings Account
Dive into a world of privileges and earn up to 4.50% interest p.a. on your savings, all while enjoying the security of free personal accident coverage with SB Money Ruby and experience banking like never before. A prestigious banking solution crafted exclusively for High Net Worth Individuals (HNIs) who are seeking maximum benefits and a superior banking experience. With a Monthly Average Balance requirement of just ₹1,00,000, this account promises a plethora of premium services and privileges. Enjoy the luxury of a free Platinum International Debit Card, comprehensive internet and mobile banking facilities, and a variety of free mobile applications to manage your finances effortlessly. With additional perks like free SMS alerts, monthly e-statements, and a generous offering of cheque leaves, this account is designed to cater to your luxurious lifestyle. Read more
Why this account is for you
Build your future with our savings accounts
Free Platinum International Debit Card and ₹10,00,000 accident coverage
200 free cheque leaves and 30 free inter-bank transfers monthly with a minimum balance of ₹1,00,000
Move between branches while retaining the same account number and other special benefits such as gift / travel cards
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Documents required
- Customer ID (CIF ID)
- 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)
- 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 SB Money Ruby 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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The account includes free personal accident coverage of ₹10,00,000 for the first account holder, providing financial security and peace of mind.
The MAB requirement for this premium account is ₹1,00,000, reflecting its status as a product designed for High Net Worth Individuals who seek maximum benefits and a comprehensive banking experience.
As an SB Money Ruby account holder, you have access to a wide array of financial products and services, including KBL Demat and Trading Accounts, Mutual Funds, various insurance options, e-tax payment services, Safe Deposit Locker facility, and a Co-branded Credit Card, providing a holistic banking experience.
Enjoy a 4.5% per annum with the SB Money Ruby Savings Account.
You receive 200 free personalized cheque leaves per calendar year. If you require additional leaves beyond this number, standard charges as per the bank’s policy would apply.
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.
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 SB Money Ruby 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.
The SB Money Ruby Savings Account offers a free Platinum International Debit Card, which provides customers with options for both international and domestic debit cards. The main difference between the two is where they can be used. A domestic debit card is typically limited to transactions within the same country, while an international debit card allows you to make transactions and withdraw cash anywhere in the world. The international card is handy for those who travel abroad frequently or make online purchases from international websites, providing greater flexibility and convenience. However, it might come with higher fees compared to the domestic card, which is something to consider based on your needs.
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 SB Money Ruby 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.
