SB Small Savings Account
The SB Small Savings Account is your pocket-sized companion for daily transactions, embodying simplicity and ease. This no-frills account is perfect for those who prefer a straightforward banking experience, without the clutter of additional features. With an annual transaction limit of ₹1,00,000, it caters to your basic banking needs, ensuring you have just what you need. The account promotes responsible spending and saving, making it a great choice for individuals who want to manage their finances without any hassle. You’ll have access to a passbook and the option for free monthly e-statements, keeping you in the loop of your financial activities. Plus, the nomination facility adds an extra layer of security to your account. Choose the SB Small Savings Account for a simple, hassle-free banking experience that fits right in your pocket. Read more Read less
Why this account is for you
Build your future with our savings accounts
Manage balances below ₹50,000 for easy, daily transactions
Annual credit limit: Be flexible within bounds with a yearly credit limit of ₹1,00,000
Easy access to funds and unlimited transactions upto ₹10,000 per month
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Documents required
- Duly filled BSBDA account opening form
- Self-attested photograph
As easy as 1,2,3...
Apply for a SB Small 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.
No, the SB Small Savings Account does not provide a cheque book, ATM card, or access to Internet Banking, E-commerce, M-commerce, and Mobile Banking facilities.
Enjoy a 2.75% per annum with the SB Small Savings Account.
No, the Multi Branch Banking (MBB) facility is not available with this 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.
You will require Proof of Identity (aadhar card, PAN card, driver’s license) and relevant KYC documents to open this 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 Small 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.
SB Small Savings Account is a savings account designed for those seeking a straightforward, no-frills account. It's an ideal choice for individuals who want a no frills bank account with the essential features of a savings account without any complexity.
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 2.75% interest rate per annum on the SB Small Savings Account. This means that your savings will increase by 2.75% 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.
