Mangalore:  The Mangalore based giant private banking company known as the Karnataka Bank Ltd, built up by KSN Adiga and successive MDs, has now launched a new Savings Bank account form for Women only, as KBL Vanitha a/c.
The purpose is to make women get into the savings habit and mange their wealth. This is not to decry that ladies spend money too much, and they needed to be reigned in to save homes!.
There is no initial deposit for them. There is no daily minimum balance requirements! Monthly average balance is pinned at Rs.1000 (to add interest on it). Fund transfers upto Rs.50000 attract no fee. There is “all risks” insurance coverage on gold ornaments, against theft or loss of any kind. There are many such facilities waiting for a woman, if she opens her SB a/c soon.
Cheques will be collected quickly. Utility bills (water, power, taxes etc.) will be paid by the Bank on time, under client’s instructions. Mobile phones are re-charged. E-statements are free every month at home. The KBK has 464 branches in India. Be a Woman account holder!