Catholic Syrian Bank vs Karnataka Bank: Children’s Savings Accounts

Catholic Syrian Bank vs Karnataka Bank: Children’s Savings Accounts

Catholic Syrian Bank allows parents and guardians to open its various savings accounts – Blue, Silver, Gold and Platinum – on behalf of minors. Karnataka Bank offers a dedicated children’s account called KBL Kishore.

Children’s Savings Accounts from Catholic Syrian Bank

Catholic Syrian Bank is one of the oldest banks in the country having been established in 1920. The bank does not offer a dedicated children’s savings bank account but its Blue, Silver, Gold and Platinum savings accounts can be opened on behalf of minors by their parents or guardian.

Blue Savings Account

This savings account comes one step up the InstaDigital Savings Account but offers lesser number of features than the Gold and Platinum accounts.

Features

  • Offers up to 5 free use of other bank ATMs
  • Allows up to Rs. 40,000 in withdrawals from ATMs per day
  • The Blue Savings Account comes with the RuPay Platinum Debit Card
  • Minimum quarterly balance needed is Rs. 1,000 for urban areas and Rs. 500 for rural regions

Silver Savings Account

The Silver Savings Account is one step up the Blue Savings Account and comes with the following features.

Features

  • Unlimited free access to any ATMs in India
  • Allows up to Rs. 75,000 in withdrawals from ATMs every day
  • Users get 20% discount on locker rentals
  • The Silver Savings Account comes with the VISA Platinum Debit Card and offers all its benefits
  • Minimum quarterly balance needed is Rs. 5,000 for urban and rural areas

Gold Savings Account

The Gold savings account from Catholic Syrian falls between the Silver and Platinum accounts. Most of its benefits are similar to the Silver account.

Features

  • Unlimited free access to any bank ATM in the country
  • Allows customers to withdraw up to Rs. 75,000 from ATMs every day
  • Users get 30% discount on locker rentals
  • The Gold Savings Account comes with the VISA Platinum Debit Card
  • Minimum quarterly balance requirement is Rs. 25,000 for urban and rural areas

Platinum Savings Account

The top savings account from Catholic Syrian Bank portfolio.

Features

  • Users have unlimited free access to any ATMs in India
  • Customers can take out up to Rs. 75,000 from any ATM every 24 hours
  • The customers also get 50% discount on locker rentals
  • Platinum Savings Account comes with the VISA Platinum Debit Card like the Silver and Gold accounts
  • Minimum quarterly balance requirement is Rs. 1 lakh for both urban and rural branches

Children’s Savings Accounts from Karnataka Bank

Karnataka Bank, one of the older banking institutions in the country, offers a dedicated children’s account called KBL Kishore.

KBL Kishore

The children’s account is available to kids over the age of 10 years and up to 18 years.

Features

  • The account comes without any minimum balance requirements
  • The bank offers a free debit card with 24-hour cash withdrawal limit of Rs. 10,000 and POS limit of Rs. 5,000
  • KBL Kishore allows parents or guardians to transfer up to Rs. 50,000 per month from their account to the child’s account
  • The kids and their parents can keep a track of the account through the bank’s mobile app

Reference Facts

  • Catholic Syrian Bank Website: www.csb.co.in
  • Headquarters: Thrissur, Kerala
  • Call Centre Number: 1800 266 9090
  • Karnataka Bank Website: https://karnatakabank.com
  • Headquarters: Mangaluru, Karnataka
  • Call Centre Number: 1800 425 1444