Karnataka Bank has unveiled a trio of innovative savings account options – KBL Sal Ultimate, KBL Sal Delite, and KBL Sal Pride – specifically crafted for corporate salaried employees, as announced on Tuesday. The news sparked significant market activity, with the bank’s shares witnessing a substantial turnover of Rs. 1,75,01,360 on BSE.
Image source: karnatakabank.com
The launch event, spearheaded by Shri Srikrishnan Hq, the Managing Director and CEO of the bank, highlighted the pivotal role these accounts play in aligning with Karnataka Bank’s forward-thinking vision. These digital-savvy accounts are tailored to provide a diverse range of benefits, addressing the wellness and lifestyle needs of their valued customers.
Among the perks of these accounts are a comprehensive personal accident insurance coverage of Rs. 50 lakh, a Premium Debit Card with lounge access, and the added convenience of maintaining a zero balance. Account holders also stand to benefit from concessions on loan processing charges.
In a move that further enhances their attractiveness to corporate employees, the new savings accounts offer hospital cash benefits up to Rs 60,000 and jewelry insurance up to Rs 2 lakh.
InvestingPro Tips underscores Karnataka Bank’s track record of delivering a high return on invested capital and consistent growth in earnings per share, presenting positive indicators for potential investors. Notably, the bank has increased its dividend for three consecutive years, showcasing a steadfast commitment to shareholder value.
This initiative underscores Karnataka Bank’s dedication to adapting to the evolving needs of its customer base by offering diverse financial solutions. The positive market response is evident in the continued robust performance of the bank’s shares following this strategic development.