KBL NRI Vantage Savings Account
In today’s globalized world, managing finances across borders should not just be functional, but rewarding. Our KBL NRI Vantage Savings Account is a Privilege savings account designed with the global Indian in mind. This scheme offers unparalleled benefits including concession in inward remittance, locker facility at discounted rates, and complimentary digital banking services to ensure your financial management is as effortless as it is efficient. Whether it's saving, investing, or transferring funds, this account is your partner in facilitating a borderless banking experience with security. Read more
Why this account is for you
Build your future with our savings accounts
Enjoy free inward remittance and reduced Nostro charges with enhanced exchange rate margins
Special focus on NRIs with monthly activities and personalized outreach
Complimentary Visa Platinum and RuPay Debit Cards with zero maintenance fees
Banking that rewards you
Discover our special and exclusive offers made for you
A century of trust, now at your fingertips
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Eligibility criteria
- Engaged in jobs or businesses outside India, or running a business abroad
- Living outside India for an unspecified duration, or working with the Government on diplomatic missions or international organizations
- Indian students pursuing an education abroad
- Individuals holding a foreign passport (except Bangladesh or Pakistan), with Indian roots
- Foreign nationals married to an Indian citizen
- A citizen of India as per the Constitution of India or the Citizenship Act of 1955
- Having parents or grandparents who were Indian citizens
Documents required
- Photocopy of the relevant pages of the current passport where the name, address, date of birth, date and place of issue, expiry date, photograph, signature and stamp of stay outside India appear
- Photocopy of valid work permit/employment visa
- Documentary proof for present address
- Recent passport-size photograph
- PAN card / Form 60 (mandatory)
- For Minor Accounts, minor’s birth certificate, photocopy of the guardian’s passport and guardian’s photograph (signed on the front)
- Authorized officials of overseas branches of Scheduled Commercial Banks registered in India
- Branches of overseas banks with whom Indian banks have relationships
- Notary Public abroad
- Court Magistrate
- Judge
- Indian Embassy/Consulate General in the country where the non-resident customer resides
As easy as 1,2,3...
Apply for a KBL NRI Vantage 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.
Nostro charges are fees applied to international transactions processed through Nostro accounts held by Karnataka Bank in foreign countries. For KBL NRI Vantage Savings Account holders, these charges are set at ₹250 plus GST for remittances below US$ 1,000, and ₹750 plus GST for amounts above US$ 1,000. This fee structure is designed to make international banking more accessible and cost-effective for NRIs.
Exchange rate margins are small differences between the market exchange rate and the rate offered to customers, reflecting the bank's service charge for currency conversion. For KBL NRI Vantage Savings Account, the margins are highly competitive, set at 0.03 paise for transactions between US$ 5,000 and US$ 250,000, and 0.02 paise for amounts exceeding US$ 250,000.
If the MAB falls below ₹5 lakh for two consecutive quarters, the special benefits will be withdrawn.
Yes, joint accounts are allowed provided all individuals meet the NRI criteria and collectively maintain the MAB.
No, digital transactions including RTGS/NEFT are free without any limit on transactions.
You get a 50% discount on locker rent charges for all sizes of lockers.
No, the Visa International Platinum Debit Card and NCMC RuPay Platinum International Debit Card come with zero annual maintenance charges.
Inward remittance is free, encouraging easy and cost-effective money transfers.
Yes, the account comes with free internet and mobile banking facilities, allowing you to manage your finances anytime, anywhere.
Karnataka Bank offers dedicated NRI customer support. Feel free to contact your nearest branch or check our website for more details.
The KBL NRI Vantage Savings Account is Karnataka Bank’s latest offering, tailored exclusively for the Non-Resident Indian (NRI) community seeking to manage their finances with ease and efficiency from anywhere in the world. Designed with a digital-first approach, this privilege savings account combines the best of both worlds: Karnataka Bank's century-long legacy of trust and the latest in banking innovation.
Key features such as concessional rates on inward remittance and significant discounts on locker rental fees ensure that your valuables are secured at a fraction of the cost. Furthermore, the account abolishes charges on RTGS/NEFT, making money transfers seamless and cost-effective. Additionally, the competitive exchange rate margins and reduced Nostro charges enhance the value of international transactions, ensuring that NRIs not only save on fees but also gain from favorable exchange rates. With the KBL NRI Vantage Savings account, NRIs have the perfect banking partner to facilitate their global lifestyle, ensuring financial transactions across borders are not just possible but also rewarding.
