KB” KUDUMBAM” SAVINGS BANK ACCOUNT SCHEME
Product Designed to Meet All The Banking Requirements of Your Family Members Under One Roof
For this, to open the accounts of all the family members & link them together as a group, to enjoy the flexibility of balance maintenance. The free facilities are based on the collective balance maintained by the family as a whole. Thus, all your family members become eligible to enjoy the privileges.
| Eligibility Criteria | Minimum 2 & maximum 6 family members (accounts) can form a group under this scheme. Customers having multiple SB accounts with us can also club all his/her accounts under this scheme along with other family member/s. Family members include Grand Parents, Father, Mother, Spouse, Brother, Sister, Son, Daughter. Production of kyc in individuals sb |
| Condition for grouping | The group as a whole will have to maintain Average Quarterly Balance (AQB) of Rs.1 lakh in SB accounts OR Rs.10 lakhs in the Term Deposit accounts in order to avail the benefits. However, for new accounts opened & grouped under this scheme, the combined SB balance has been kept at Rs. 50 000. Free facilities start from day One. The Facilities can be enjoyed by any member (account) of the family in the group. |
| NEFT/RTGS | Unlimited Free |
| Free Demand Draft/ Pay Order | Up to Rs.20,000 Per Account Per Month |
| ATM cum Debit Card | Free, No issuance Charge. |
| ATM Withdrawal | Rs. 25,000 Per Day free of charge |
| Shopping Limit -POS | Rs. 25,000 Per Day free of charge |
| Combined Limit (ATM+POS) | Rs. 50,000 Per Day free of charge |
| Accidental Insurance Cover upon usage of Debit card | Rs. 2 Lacs-availability |
| Internet Banking (Fund Transfer+Bill Payments) | Free |
| Pass Book/ Account Statement | Free |
| Waiver of Cash Deposit Charges @Outstations | Up to Rs.50,000 per day |
| SMS Alerts | Free |