Karnataka Bank Ltd.
PRESS RELEASE
KARNATAKA BANK LAUNCHES A NEW SAVINGS PRODUCT FOR WOMEN
Mangalore-based premier private sector bank Karnataka Bank Limited launches a new product exclusively for women. The new SB account for women named KBL Vanitha, scheduled for launching on 09.09.2010 is to encourage savings habit among the womenfolk and also to allay the fear of managing their wealth.
The novel SB account scheme has certain unique features listed below.
- Accounts can be opened by all females aged 18 years and above.
- Joint account is permitted with females only.
- Accounts can be opened even with "Zero" initial deposits.
- There is no requirement of daily minimum balance.
- Monthly Average Balance (MAB) of Rs.1,000/-.
- Free "All Risk" insurance cover for jewellery covering loss due to snatching while on travel, theft while during hotel stay, burglary while at home for Rs.50,000/- exclusively to the first named woman of the SB account.
- Free fund transfer up to Rs.50,000/- per month to two savings accounts in the name of children.
- Multi Branch Banking facility.
- MoneyPlant VISA International Debit Cards
- Internet Banking
- Online Payment through Debit Cards (E-Commerce).
- Mobile Banking (M-Commerce) available free.
- Free SMS alert facility for all Debit and Credit transactions of Rs.5,000/- and above.
- Fastest way of Inter Bank fund transfers through RTGS/NEFT.
Other facilities include Fast collection of cheques, Utility Bill payment, Mobile Recharge and Free monthly E-statements.
The Bank which has been offering a host of products plans to launch the following facilities to its customers in the near future.
- Online trading
- Travel Card
- Gift Card
- Smart Card
- POS Terminal
The Bank which has 464 branches across the country is going to open a branch in Mumbai-Dadar shortly.