SB Trust, Association, Society and Club (TASC) Account

Introducing a one-stop solution to your collective financial needs. The TASC Account is specially designed for Trusts, Associations, Societies, and Club caters to the specific financial requirements of TASC entities, offering an array of attractive benefits and features to track expenses, file taxes and maintain a financial record with ease and a digital-first account. The account is tailored to streamline your operations, offering corporate internet banking facilities, KBL e-COLLECT for easy fee payments, and a full-fledged payment gateway solution, helping you to achieve your dreams together. Read more

Why this account is for you

Helping you build your dreams together

Maintain a minimum balance of ₹25,000 for free cash deposits/withdrawals and hassle-free NEFT/RTGS

Streamline operations with Corporate Internet Banking and a full-fledged payment gateway solution

Complimentary cheque books and demand drafts, plus discounts on collections and payment solutions

Features

Convenient minimal balance

With a ₹25,000 minimum balance, enjoy free and flexible cash transactions and manage funds easily.

Advanced corporate banking features

Leverage our advanced Corporate Internet Banking and KBL e-COLLECT for efficient, secure online transactions and fee collections.

Comprehensive transaction tools

Utilize complimentary cheque books and demand drafts, combined with our full-fledged Payment Gateway Solution for all your transaction needs.

Process payments efficiently

Easy payments with free NEFT/RTGS and swift financial operations

Enhanced security and convenience

Keep track of your transactions with regular SMS Alerts & E-Statements, and benefit from our POS Machine Facility for diverse payment options.

Value-added benefits

Gain more with discounts on collection and payment solutions, tailored to meet the diverse needs of TASC entities.

Banking that rewards you 

Discover our special and exclusive offers made for you 

SaffronStays
SaffronStays logo

Book a minimum of 3 nights at SaffronStays and avail a 15% discount up to ₹15,000*

SaffronStays
SaffronStays logo

Book a minimum of 2 nights at SaffronStays and avail a 10% discount up to ₹7,500*

Paneer Wrap
Mc Delivery

Get Big Spicy Paneer Wrap/Big Spicy Chicken Wrap On Purchase of ₹ 399 

A century of trust, now at your fingertips

Travel, shop, or pay bills—all in one app. Experience KBL Mobile Plus today.

Available on Google Play Store and App Store.

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Eligibility criteria

  • Trusts, associations, societies, clubs, educational and research institutes, as well as Section 25 companies and similar entities as per RBI guidelines

Documents required

For clubs, associations, committees & unions
  • Rules and by-laws
  • List of managing committee members
  • Valid ID and address proof of the person(s) authorized to open and operate the account
  • A copy of the registration certificate (if the club/association/union is a registered body)
  • Permission from the main office to open the account (if there are branches at different locations)
  • A signed resolution to open the account by the President/Chairman and Secretary
  • A copy of the trust deed
  • Letter and resolution
  • Income tax exemption certificate (if applicable)
  • Valid Officially Valid Documents (OVD) of the person(s) authorized to open and operate the account

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Simplify banking with easy reads

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Got questions? We’ve got answers.

What is the eligibility criteria for TASC accounts?

Trusts, Associations, Societies, Clubs, Educational and Research Institutes, as well as Section 25 companies and similar entities as per RBI Guidelines are eligible for this account.

Visit any Karnataka Bank branch or get in touch with our 24-hour help desk. You can call our toll-free number at 1800 425 1444 or 080 22021500 for assistance. Our team will guide you through the process and inform you about the documents required.

You will receive a 4.5% interest rate per annum with our salary accounts.

This service is designed for merchants, including educational institutions and temples with ERP ((Enterprise Resource Planning) systems. It facilitates real-time payment and transaction processing directly on the merchant's website, saving time and reducing administrative costs. Merchants can enjoy up to 50% off on setup charges for this service.

Karnataka Bank offers a variety of POS machines that allow merchants to accept payments via credit, debit, and prepaid cards from major networks like VISA, RuPay, and MasterCard. These POS machines ensure fast and secure transactions with a dedicated customer care service and offer next-day settlement of transactions with the KBL POS Manager App.

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 SB TASC 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.

Important do’s and dont’s

Do set clear objectives for your Task Account to stay focused. Regularly contribute to it to meet your goals. Don't dip into these funds for other expenses; maintain the discipline to keep the account task-specific. Regularly review and adjust your saving strategy as needed.

TASC accounts are tailored for the unique needs of groups like Trusts, Associations, Societies, and Clubs. They offer competitive interest rates, enhancing the value of funds held. Benefits often include low minimum balance requirements, free cash deposits and withdrawals, and complimentary services like cheque books and e-statements. These accounts can also provide discounts on payment solutions, internet banking facilities, and payment gateway solutions, making financial management efficient and cost-effective for such entities.

The interest rates for Task Accounts can vary based on their purpose and tenure. They usually offer competitive rates to motivate savings. The interest is calculated on the daily balance, ensuring that every deposit contributes to your goal. The calculation of interest is usually based on the daily balance in the account, with the interest credited at periodic intervals, often quarterly or annually. This approach ensures that the funds in the account are continually earning, contributing to the financial stability and growth of the organization.