Karnataka Bank launches savings bank product for salaried class

Private sector lender Karnataka Bank on Monday launched a new savings bank product called “KBL SB Salary” for salaried class with three variants of Executive, Prime and Classic.

“All these 3 variants of our KBL SB Salary Scheme are available for the Salaried People with a host of Digitally Powered features and without any Minimum Balance Criteria. No annual charge on Debit Cards, Unlimited free access to Karnataka Bank ATMs, Free Cash Deposit facility across all branches, Free Fund Transfer within the Bank, Free NEFT & RTGS through Internet and Mobile Banking, Free Outstation Cheque Collection, No Annual Fee on Demat & Trading Accounts are some of the major features of these Schemes,” the bank said in a press release.

According to the release, the bank will provide, free of cost, an insurance coverage of up to Rs 50,000 against chain snatching, theft and burglary for women employees falling in the top category of the salary scheme. “We have designed these 3 variants to cater all the financial needs of the entire ‘Employer-Employee Ecosystem’ said Bank’s MD Mahabaleshwara M S.