KBL Insurance Linked Savings Account (ILSB)

A premium savings account designed to provide you with financial security and peace of mind. This medical savings account is special because it comes with accident and hospitalization insurance coverage at no extra cost to you. It’s perfect for individuals who want to protect their savings while earning interest. With features like a free Platinum International Debit Card, access to various mobile apps, and the convenience of banking from anywhere, this insurance savings account ensures that your banking experience is smooth and secure. Plus, with the added medical insurance coverage, you can rest easy knowing that you are protected in case of any unforeseen events. Read more

Why this account is for you

Build your future with our savings accounts

Get ₹2 lakh accident coverage and ₹10,000 for accident-related hospital expenses at no added cost

Enjoy a free Platinum International Debit Card at your disposal

Free cash deposit at BNA and instant access to top mobile apps like mPassBook and UPI

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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  • Set up a call on your time

No hidden fees

We prioritize clean and honest banking. What you see is what you get.

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Documents required

Existing customer
  • 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 KBL Insurance Linked Savings Account (ILSB) 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

As easy as

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Got questions? We’ve got answers.

Are there any value-added services offered with this account?

Yes, the SB General Savings Account offers several value-added services like KBL Suraksha, social security schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)and Pradhan Mantri Suraksha Bima Yojana (PMSBY) along with a exclusive all risk insurance coverage for your jewelry. Additionally, services like KBL Demat Account, Gift Cards, Travel, e-tax payment services, co-branded credit facilities, and optional safe deposit lockers enhance the banking experience, providing comprehensive solutions to meet various needs. For more details, visit your nearest branch.

The personal accident insurance coverage is available for account holders up to the age of 95 years. This coverage provides financial protection in case of accidents, ensuring peace of mind.

No, immediate credit for outstation cheques is not a facility included with this account.

Enjoy a 4.5% per annum with the KBL Insurance Linked Savings Account.

For joint accounts, only the first account holder is eligible for the insurance coverage. This includes Accident insurance of ₹2 lakh and Hospitalisation cover up to ₹10,000, provided at no extra cost by the bank.

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 KBL Insurance Linked Savings Account (ILSB) 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.

Why insurance and savings accounts go together

This link between insurance and a savings account is vital as it provides financial security and peace of mind to account holders. By bundling insurance with a savings account, banks make it convenient for customers to manage their finances and secure their future simultaneously. Insurance is crucial as it offers protection against unforeseen events, ensuring that individuals and their families are covered in times of need. This integration thus promotes a holistic approach to financial planning, encouraging savings while also ensuring financial protection. Karnataka Bank offers a unique product called the KBL Insurance Linked Savings Account (ILSB), which combines the benefits of a savings account with insurance coverage.

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 Insurance Linked 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.