Karnataka Bank has rolled out three new savings account options – KBL Sal Ultimate, KBL Sal Delite, and KBL Sal Pride – specifically designed for corporate salaried employees, according to an announcement made on Tuesday. The bank's shares experienced a substantial turnover of Rs. 1,75,01,360 on BSE following the news.
The launch was led by Shri Srikrishnan Hq, the bank's Managing Director and CEO. He emphasized the role these accounts play in Karnataka Bank's forward-thinking vision, offering a variety of benefits to cater to the wellness and lifestyle needs of their customers.
These digital-friendly accounts offer a comprehensive package of benefits including a personal accident insurance cover of Rs. 50 lakh, a Premium Debit Card with lounge access, and the convenience of maintaining a zero balance. Account holders are also eligible for concessions on loan processing charges.
In addition to these benefits, the new savings accounts extend hospital cash benefits up to Rs 60,000 and jewellery insurance up to Rs 2 lakh, further enhancing their appeal to corporate employees.
InvestingPro Tips highlight that Karnataka Bank yields a high return on invested capital and has consistently increasing earnings per share, which are positive indicators for potential investors. The bank has also raised its dividend for 3 consecutive years, demonstrating its commitment to shareholder value.
The introduction of these accounts underscores Karnataka Bank's commitment to evolving with its customers' needs while providing them with diverse financial solutions. The bank's shares continue to perform well in the market following this development.
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