Abhyudaya Cash Certificate
If you're planning for a big financial goal and prefer your savings to grow quietly in the background, the Abhyudaya cash certificate scheme is just right for you. This scheme takes the interest you earn every three months and adds it back to your savings, helping your money grow faster by reinvesting your quarterly interest and compounding it to grow your savings significantly. You have the freedom to choose a saving period that suits you best, from 6 months to 10 years, and you can start with just ₹100. Let your savings amplify without the added-stress. Click here to view the latest interest rates. Read more Read less
Why this deposit is for you
Grow your money and secure your future with our deposit choices
Compounded interest at quarterly intervals, ensuring your deposit grows faster and larger over time
Options ranging from 6 months to 10 years, adapting financial goals and timelines
Added security with flexibility of loan options and nomination facility
Features
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.
As easy as 1,2,3...
Apply for ACC 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
Explore other options for you
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Got questions? We’ve got answers.
First, your deposit earns interest every quarter. Instead of paying out this interest, we add it back to your principal amount. So, the next quarter's interest is calculated on this new, larger amount (your original deposit plus the interest added back). Over time, this process repeats every quarter. With each cycle, the interest is calculated on an increasingly larger amount, as the previously earned interest also earns interest.
We offers loans against ACC following the bank's prescribed rules, providing a convenient credit option without breaking the deposit.
Yes, premature withdrawal of Abhyudaya cash certificate is allowed as per our terms and conditions.
The minimum amount to open an Abhyudaya cash certificate is just ₹100 with no upper limit.
To download the KBL Mobile Plus app, visit the Google Play Store or Apple App Store on your mobile device. Search for 'KBL Mobile Plus' in the store, select the app published by Karnataka Bank, and click 'Install' to download it onto your device.
NEFT (National Electronic Funds Transfer) is available for individuals, firms, or corporate bodies with accounts in the bank, facilitating electronic transfer of funds to any other NEFT-enabled bank branch in the country.
Yes, our bank deposits are generally considered a safe investment. This safety is primarily due to deposit insurance schemes provided by government agencies, which protect a certain amount per depositor in case of financial volatility. Additionally, we are subjected to stringent financial controls and oversight, further enhancing the safety of deposits. However, while safe, the returns on deposits, particularly savings accounts, are usually lower compared to riskier investments like stocks or mutual funds.
Whether a deposit is better than a mutual fund depends on your financial goals, risk tolerance, and investment horizon. Deposits offer safety and guaranteed returns but typically with lower interest rates. Mutual funds, on the other hand, have the potential for higher returns but come with greater risk and market volatility. For short-term goals or if you prioritize capital preservation, deposits might be preferable. For long-term goals with a higher risk appetite, mutual funds could be more suitable.
Yes, we allow you to open a joint deposit account with one or more individuals, subject to terms and conditions. This means you and the other person (like a family member, spouse, or business partner) can both manage and have access to the money in the account. Both of you can deposit or withdraw money, and the terms of the account usually apply to both parties equally. It's a common way for couples or business partners to manage their finances together.
General deposits in a bank offer a safe and accessible way to store your funds. They provide the flexibility to withdraw or transfer money as needed, supporting day-to-day financial transactions. Many deposit accounts also offer interest, although at a lower rate than specialized accounts.
Interest on general deposit accounts is calculated on the daily balance and paid periodically, often monthly or quarterly. The rate is typically lower than that of fixed deposits or recurring deposits, reflecting the higher liquidity and accessibility of these funds.
Do keep track of your deposits to manage your finances effectively. Make use of online banking facilities for easy access and management of your accounts. Don't forget to monitor your account regularly to avoid any maintenance fees or charges for not maintaining a minimum balance.
