SB Sugama Zero Balance Account
The SB Sugama account is a zero-balance account designed to be accessible to every citizen, aiming to reach a vast population across Karnataka. This account is for you if you are looking for simplicity and convenience in banking, without the need to maintain a minimum balance. It’s a no-frills account, ensuring that banking services are available to all, regardless of their financial status. With features like ATM/Debit Card access, cheque book facility, and the ability to collect outstation cheques, it provides the essential services needed for daily transactions. Additionally, the account offers nomination facilities and a passbook to keep track of your transactions. Read more
Why this account is for you
Build your future with our savings accounts
No worries about minimum balance to start saving
Upto 4 monthly withdrawals and basic banking with debit card, cheque book and more
A savings account made to reach a vast section of the population
Banking that rewards you
Discover our special and exclusive offers made for you
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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 Sugama Zero Balance 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.
For details on opening an account, please contact your nearest Karnataka Bank branch and get started.
Yes, you will have access to an ATM/Debit Card with the SB Sugama account.
No, immediate credit for outstation cheques is not a facility included with this account.
Enjoy a 4.5% per annum with the SB Sugama Zero Balance Account.
You can track your transactions using the provided passbook, and you also have the option to receive free monthly e-statements if you register.
The SB Sugama account offers access to unique insurance schemes for added financial security. This includes KBL Suraksha, a personal accident insurance scheme, as well as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), which provide life and accident insurance coverage respectively.
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 Sugama Zero Balance 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.
SB Sugama offers the convenience of a zero balance account, eliminating the worry about maintaining a minimum balance. This zero balance bank account is perfect for those who desire a basic savings account with the flexibility of no minimum balance requirements. Opening a zero balance account is now more accessible and hassle-free than ever.
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 Sugama Zero Balance 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.
