Karnataka Bank has come up with a new savings account product directed specially for the womenfolk. Coined as KBL Vanitha,the product has been launched with the intention to inculcate the habit of saving amongst the womenfolk and also to assure them that they can manage their own wealth without any male support.

The product bears features like eligiblility being granted to all females above 18 years of age to open such an account. The accounts are of No Frill Category. Monthly average balance (MAB) has been kept at Rs 1000.

Complimentary 'All Risk' insurance cover of Rs 50,000 is provided for jewellery for the named woman in the account.

Also other facilities like free fund transfer up to Rs 50,000 per month to two savings accounts in the name of children, Multi Branch Banking facility, MoneyPlant VISA International Debit Cards, Internet Banking, Online Payment through Debit Cards (E-Commerce), Mobile Banking (M-Commerce), free SMS alert facility for all Debit and Credit transactions of Rs.5,000/- and above and fastest way of Inter Bank fund transfers through RTGS/NEFT are provided including Fast collection of cheques, Utility Bill payment, Mobile Recharge and Free monthly E-statements.