Karnataka Bank Ltd. has launched two innovative financial products, ‘KBL Peak’ and ‘KBL Genius’, aimed at empowering students with financial support and savings solutions. Introduced on World Prematurity Day, these products align with the bank’s commitment to fostering education and contributing to India’s socio-economic growth.
Key Features of KBL Peak Education Loan
The ‘KBL Peak’ education loan caters to students pursuing higher education in India and abroad.
- Loan Amount: Up to ₹2 crore to cover tuition, accommodation, travel, books, and laptops.
- Pre-Admission Sanction: Simplifies the admission process with pre-admission sanction letters.
- Insurance Coverage: Both students and their parents benefit from credit life insurance.
- Special Concessions for Female STEM Students: Reduced interest rates for women in STEM fields.
- Flexible Interest Rates: Rates depend on the institution’s ranking and the co-applicant’s credit score.
Highlights of KBL Genius Student Savings Account
The ‘KBL Genius’ savings account offers students a secure and convenient way to manage their finances.
- Variants: Available in two options—‘KBL Genius Signature’ and ‘KBL Genius Advantage.’
- Low Minimum Balance: Offers flexibility with a minimal average balance requirement.
- Cyber Insurance: Provides free coverage to protect students from online risks.
- Debit Card Benefits: Exclusive privileges designed for students.
| Feature | ‘KBL Peak’ Education Loan | ‘KBL Genius’ Savings Account |
| Loan Amount/Balance | Up to ₹2 crore | Low minimum balance |
| Key Benefits | Covers education expenses, travel, and books | Free cyber insurance, debit card benefits |
| Special Features | Pre-admission sanction, female STEM concessions | Two variants for flexibility |
| Insurance Coverage | Credit life insurance | Cyber insurance for online safety |
Additional Benefits for Students
Karnataka Bank offers an all-inclusive financial ecosystem for students:
- Travel Insurance: Ensures safety during educational trips.
- Foreign Exchange Assistance: Simplifies financial transactions abroad.
- Lounge Access: Exclusive benefits for international travel.
Karnataka Bank’s Commitment to Education
At the launch event, Srikrishnan H, Managing Director and CEO of Karnataka Bank, highlighted the bank’s focus on supporting India’s youth. He emphasized the importance of education in building a prosperous future. Sekhar Rao, Executive Director, noted that these products deepen the bank’s education loan portfolio while promoting societal development.
Karnataka Bank Empowers Students with Innovative KBL Peak Education Loan and KBL Genius Integrated Savings Account
— Karnataka Bank (@KarnatakaBank) November 14, 2024
Education Loans Up to ₹2 Crores
Savings Account with Free Cyber Insurance
With a view to empower the younger generations and contribute to India's growing… pic.twitter.com/xI4l1kKtDs
Event Highlights
The launch was attended by prominent personalities like Meenakshi Ammal, P S Venkatesh Babu, and Dr. Pradipkumar Dixit, showcasing Karnataka Bank’s strong ties with the education sector.
Karnataka Bank Launches ‘KBL Peak’ and ‘KBL Genius’ for Students- Summary
- Karnataka Bank launched ‘KBL Peak’ education loans and ‘KBL Genius’ student savings accounts on World Prematurity Day.
- ‘KBL Peak’ offers loans up to ₹2 crore with special concessions for female STEM students.
- ‘KBL Genius’ includes free cyber insurance and debit card benefits.
- Additional features like travel insurance and foreign exchange assistance create a holistic financial ecosystem for students.
- CEO Srikrishnan H emphasized the role of education in shaping the future.
Also Read Latest Current Affairs 2024
FAQs About Karnataka Bank Launches ‘KBL Peak’ and ‘KBL Genius’ for Students
The ‘KBL Peak’ loan provides up to ₹2 crore to cover educational expenses for students pursuing higher studies in India or abroad.
It offers free cyber insurance, exclusive debit card benefits, and flexibility with two variants: Signature and Advantage.
Yes, female students in STEM courses receive special interest rate concessions on ‘KBL Peak’ loans.
Services include travel insurance, foreign exchange assistance, and lounge access for international travelers.
Through ‘KBL Peak,’ students can secure loans covering tuition, accommodation, and travel expenses, along with foreign exchange support.
Yes, the ‘KBL Peak’ education loan offers pre-admission sanction letters to simplify the application process.
The account is designed with minimal average balance requirements to accommodate students’ financial flexibility.
