Karnataka Bank Charges refer to the distinct fees imposed for the utilisation of diverse banking services offered by the Bank. These charges comprise a range of fees including Karnataka Bank Account Opening charges, penalty for non-maintenance of minimum balance, cheque bounce charges etc. Understand these charges beforehand for effective management of your banking expenses.
Karnataka Bank is a leading private sector bank with its headquarters in Mangalore. The bank offers a comprehensive range of banking and financial services to individuals, businesses, and Corporates. The Bank focuses on customer satisfaction and provides technology-driven solutions and maintains strong relationships with its customers.
Karnataka Bank provides distinct services and products to its customers. Customers are charged fees for utilising these services and having a convenient and hassle-free banking experience. The different types of Karnataka Bank Charges collected from the customers are given below:
Account Maintenance Charges
Account Maintenance Charges levied by Karnataka Bank is for the upkeep and management of an account. These charges ensure smooth operation and administration of the account and its associated services. The account maintenance charges include cash deposit and withdrawal charges, SMS alerts charges, penalty for non-maintenance of minimum balance etc.
Minimum Balance Charges
At the time of opening the account you will be informed about the minimum balance requirements in the account. If you fail to maintain the minimum balance, Karnataka Bank will collect minimum balance violation charges. These charges are collected monthly whenever the balance goes below the minimum balance.
Current Account Folio charges
Karnataka Bank collects folio charges for maintaining the transaction records for its Current Account and OD/CC Account customers. The folio charges are collected at Rs. 100 for every 40 transactions for transactions initiated through branches. For transactions through digital channels, the bank does not collect any charges. These charges are collected half-yearly.
Statement Issuance Charges
The Bank does not collect charges for issuing statements to SB Accounts. For Current Accounts and OD/CC accounts, no charges are collected for monthly statements. Rs. 50/- per page is charged for daily statements and Rs. 25 per page for weekly statements.
Enquiry Relating To Old Entries
If you need some clarifications about old entries in your account and request for the details of old entries, Karnataka Bank charges Rs. 100 per instance for SB Accounts and Rs. 150 per instance for all other operative accounts.
On request, Karnataka Bank issues various certificates like Balance Certificates, Interest Certificates, No Objection Certificates, etc. The Bank charges Rs. 150/- for issuing any of these certificates.
Here are some tips for you to avoid Karnataka Bank Charges and prevent money-drain in your account.
- Maintain the required minimum average monthly balance in your account.
- Ensure that your account stays active to avoid dormancy charges.
- Opt for electronic statements to avoid statement charges.
- Limit the number of cheque transactions to avoid additional cheque book charges.
- Use ATMs affiliated with Karnataka Bank to avoid ATM withdrawal fees.
- Set up account alerts to stay updated on your account activity and avoid any penalty charges.
- Avoid over limit transactions to steer clear of over limit charges.
- Keep yourself informed about the bank’s fee structure and account policies to make informed decisions and avoid any unexpected charges.
While opening an account with Karnataka Bank you will encounter account opening charges. Being aware of the charges will help you choose an account that aligns with your banking needs. The list of Savings Account Options at Karnataka Bank and the associated charges in the form of initial deposit is given below:
|Type of Account||Charges|
|SB General Account||Without Cheque Book Metro/Urban/Semi-urban Areas: Rs. 500 Rural/Financial Inclusion: Rs. 200 With Cheque Book Metro/Urban/Semi-Urban Areas: Rs. 2000 Rural/Financial Inclusion: Rs. 1000|
|KBL Salary Privilege||Zero|
|KBL Vanitha||Metro/Urban/Semi-Urban Areas: Rs. 2000 Rural/Financial Inclusion: Rs. 1000|
|KBL Tarun (Students Account)||Zero|
|KBL Insurance Linked SB||Metro/Urban Areas: Rs. 15000 Semi-Urban/Rural Areas: Rs. 10000|
|SB Money Sapphire||Rs. 10000|
|SB Money Ruby||Rs. 1.00 lac|
|SB Money Platinum||Rs. 3.00 lacs|
|SB Sugama||Zero Balance|
Karnataka Bank provides 5 free ATM transactions including both Karnataka Bank ATMs as well as non-Karnataka Bank ATMs. The bank collects charges for transactions over and above the free limit which includes both financial and non-financial transactions. These charges are not applicable for Privileged SB Scheme account holders like SB Sapphire, SB Ruby, SB Platinum, and ILSB.
Karnataka Bank provides NEFT facilities for its customers for fast and convenient funds transfers. NEFT transactions can be either done through online modes or the Karnataka Bank branches. The Bank collects charges depending on the amount of transaction for providing the facility. The list of Karnataka Bank NEFT Charges is given below:
|Up to Rs. 10000||Rs. 2.25 + GST|
|Above Rs. 10000 up to Rs. 1.00 lac||Rs. 4.75+ GST|
|Above Rs. 1,00 lac up to Rs. 2.00 lacs||Rs. 14.75 + GST|
|Above Rs. 2.00 lacs||Rs. 24.75 + GST|
RTGS outward transactions routed through Karnataka Bank carry charges. The Karnataka Bank RTGS Charges list is given below.
|Rs. 2.00 lacs to Rs. 5.00 lacs||Rs. 25 + GST|
|Above Rs. 5.00 lacs||Rs. 50 + GST|
The details of charges collected by Karnataka Bank for providing IMPS services are given below
|Up to Rs.||Nil|
|Rs, 1001 to Rs. 1.00 lac||Rs. 5 + GST|
|Above Rs. 1.00 to Rs. 5.00 lacs||Rs. 15 + GST|
Karnataka Bank Charges : FAQs
Karnataka Bank allows Savings Bank account holders 5 free cash deposit transactions or up to Rs. 5.00 lacs whichever is earlier in a month. Current account holders are permitted to deposit up to Rs. 75000/- per day without charges. SB account holders will incur charges of Rs. 2/- per 1000 for any deposits beyond the free limit and Current account holders will incur Rs. 200/- per lakh for depositing amounts above Rs. 75000/- to Rs. 10.00 lakhs and Rs. 300/- for depositing amounts above Rs. 10.00 lakhs.
The Karnataka Bank Charges for ECS Returns is Rs. 500/- for each instance.
For standing instructions to accounts within the Bank there are no charges. Other than that the bank will charge Rs. 100/- for every registration.
Karnataka Bank provides 12 locker operations in a year free of cost. For any extra operations the Karnataka Bank Locker Charges will be Rs. 100/- per visit.
The Karnataka Bank Debit Card Charges for replacement of lost/stolen cards is Rs. 100.