Why choose a Privilege savings account
Our Privilege savings accounts offer a blend of functionality and exclusivity, tailored for those who demand more from their banking experience. Choose from our varied accounts — ILSB, Ruby, Sapphire, and Platinum — each with its own set of premium benefits. Enjoy high interest rates up to 4.5% p.a., comprehensive insurance covers, and the convenience of free cash deposits and withdrawals. We go beyond than just providing savings options; we invest our time in your financial success, offering you enhanced customer service and 24x7 banking ease
Stay protected with comprehensive insurance coverage on select accounts
Experience unrestricted cash handling and added banking privileges
Enjoy a suite of benefits, including free Platinum debit cards and more
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Enjoy an interest rate of 4.5% per annum with all of our Privilege savings accounts.
You will require proof of Identity (Aadhar card, PAN card, driver’s license) and relevant KYC documents to open a savings account. If you are an existing customer, you would need to provide the relevant credentials registered with us.
Our Privilege savings accounts like SB Money Sapphire, SB Money Ruby, and SB Money Platinum require a specific minimum balance ranging from ₹10,000 to ₹3,00,000. Click here to know more.
Yes, you can change your type of savings account. Please visit the branch to change your savings account variant.
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.
Typically, our savings accounts come with several value-added services like KBL Suraksha, a unique personal accident insurance scheme and social security schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)and Pradhan Mantri Suraksha Bima Yojana (PMSBY). Additionally, services like KBL Demat Account, Gift Cards, Travel, e-tax payment services, co-branded credit facilities, and optional safe deposit lockers are subject to availability depending on the specific 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 Privilege 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 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.
Privilege savings accounts offer a suite of premium services, catering to those who seek more than just a basic savings facility. With higher interest rates and lower fees, they maximize your savings potential. Enjoy enhanced transaction limits, priority banking services, and exclusive access to financial advisors. These accounts often come with complimentary insurance covers, adding a layer of financial security.
The interest on Privilege savings accounts is typically calculated on the daily balance and credited quarterly. This method ensures that every rupee in your account earns interest, contributing to a higher yield over time. The rates are usually higher than regular savings accounts, reflecting the premium nature of the product.
Do maintain the minimum balance required to avail the premium benefits. Don't miss out on using the complimentary services offered. Regularly review your account to optimize the benefits. Avoid inactivity to prevent the account from becoming dormant.Do maintain the minimum balance required to avail the premium benefits. Don't miss out on using the complimentary services offered. Regularly review your account to optimize the benefits. Avoid inactivity to prevent the account from becoming dormant.
