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Karnataka Bank Accounts Expert Guide

The bank account is the facility provided by the bank for the customer simplicity and life betterment. The bank account is a type of the financial account maintained or controlled by the financial institution for the customers. The bank account can be different or we can say it can be of various types, like, deposit account, a credit card account, a current account, or any other type of account offered by a financial institution. Whatever the financial transaction had made within the given lap of time in his/her bank account, the bank report all the transactions or we can say activity in the bank account are reported to the customers on a bank statement. The bank account plays a very important role in the economy of any country and is highly regulated. Compare features of this bank with Canara Bank AccountsSBI Bank Accounts and YES Bank Accounts for detailed information about Accounts.

Everyone wants that his money should be safe and considering that factor Karnataka Bank is the best bank and here our money is well regulated. Being part of the Karnataka bank, this bank offers their liquidity it means that since you can withdraw your deposited money anytime according to your needs. There are many advantages of the bank account for the customers, the bank accounts are totally transparent. The bank account transactions are very transparent in nature and you will be always notified of each and every transaction so that you will be aware of the money that how much money is there in your bank account currently.

The Karnataka bank had various types of bank account such as a savings account, will offer the account holder small profits on her/his deposit. In case if you are allowing the Karnataka bank to use your money for making investments, so in return, the Karnataka bank pays some small rate of interest to the account holder. The Karnataka bank had one special facility for their customers that is, on your behalf, the bank account is set up by the Karnataka bank to the companies or institution to whom an account holder has to make the payment on the regular basis, it can be on weekly, monthly or annual basis. Karnataka bank provides Karnataka bank Debit Cards and Karnataka bank Credit Cards for funds transfer and online shopping. Account holder payment can be like — insurance companies, utilities, lenders. The money whatever you decide that will be paid directly from your bank account according to fixed money and at some time lap. No need of spending your time in paying the bills, being the Karnataka bank account holder, you have the liberty of all the services provided by the bank.

Karnataka Bank Types of Accounts

The Karnataka bank has various type of account for their customers. It can be saving bank account, current bank account, and term deposit account. Here are the more details of our bank regarding the bank accounts.

The current account is mainly for business persons, firms, companies, public enterprises etc. the current bank accounts are never used for the purpose of investment or savings. In case of the current account, there is a high frequency of the bank transaction, it can be like the customers are doing more than multiple transactions on the daily basis. To check eligibility criteria for opening bank account in Karnataka bank any one can contact Karnataka Bank Customer Care for assistance. The current bank holder has liberty for doing withdrawals as they can, according to their need, here no restriction on the withdrawal so this is type account is very much suitable for the businessmen type of people. In case of the current bank holder, the customers are not paid any type of any interest by the bank, but in other type of bank accounts, they do pay some interest in the certain period of the time according to the term and condition.

Karnataka bank provides a facility to the current bank account holder to an overdraft facility. Basically, the overdraft is a type of temporary loan provided by the bank to the customer to clear the cheques which have been already been issued by the bank, this type of loan is issued in case of the of insufficient balance in the current account of the customer, so this type of account is very helpful regarding to the financial emergencies. The current bank account holder gets cheque facility for their current bank account. There is upper limit settled by the bank for the overdraft, and the upper limit is decided by the bank on the basis of the account holders past records with the bank.

Every people around us is not a big financial holding businessman so the point is we mean Karnataka bank has classified the current bank account on the income or we can the range of income of the businessmen. In the current bank accounts, there is more variation in the account considering the customers need.

The CA General  account is basically for the small merchants, self-employed professionals, fashion designers, small hardware, small vendors, and grocery shops. There is amount settled by Karnataka bank for their CA general account holders, that is, for the rural and semi-urban the monthly average balance should be 3000 and for the urban and metro belonging person it is 5000. The internet and mobile banking facility, fund transfer within the bank, fast cheque, e-tax payment services, mobile applications, are free/ not chargeable for the CA general bank account holder.
There are some more additional features for the CA General bank account holder:

  • The customer has the liberty for the deposition of the cash at any of the Karnataka bank branch.
  • The customers have the liberty of withdrawing the money at any branch.
  • The customers can request for the personalized check books.
  • There are no transaction charges within the bank. The fund can be transferred through RTGS/NEFT.
  • The customers can make the demand drafts from any branch. You can deposit the cheques at any of the Karnataka bank branches.
  • There is limit for the withdrawing money by the debit card that is 40000/- with per day cash and if you are doing online transaction than the limit is of 75000/-
  • The customers are not charged for any karnataka Bank Internet Banking services and even in the Karnataka Bank Mobile Banking.
  • The Android mobile applications like mPass-Book and ApnaApp are there for the       Karnataka bank customers and they are not chargeable.
  • If the customers are interested in the notification of this bank account that, if there is   some transaction done then it is very easy, the customers have to subscribe the SMS alert   facility, and it is not chargeable.

Saving accounts are the accounts which are the most popular kind of the individual accounts for the personal purpose of saving your investments and for that you will be getting the interest rates. A savings account is an interest-bearing account with a certain period of the time. Saving account provides the cheques facility that is of great benefit to the customers. The cardholder has the flexibility for the Karnataka Bank Deposits and also, he/she can withdrawal funds from your account.

Recurring deposits are also called as the RD accounts. The RD accounts holders have the liberty to invest an average amount of their savings on the monthly basis. These account holders will gain some interest on the basis of the amount in your account. This type of accounts is specially made for the working public, who actually do not want to invest large amounts at a time, so it is very helpful for the customers.

Fixed deposits are called as the FD. These schemes are basically with the tenure from 7 days to the years. These accounts are basically for the holders who are interested in the deposits for the long term and for these long-term investments you will be getting a good rate of interest.

FAQ’s Related to Karnataka Bank Accounts

1. Is it possible to handle the saving accounts from any of the branches across India?

View Answer
Yes, you can operate your bank account across all over India by any branch and it’s very simple and uncomplicated. The fund transfer can be done with the help of the various methods like NEFT or RTGS according to your convenience.

2. What are the interest rates on the saving bank account?

View Answer
The interest amount varies significantly according to your savings.

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