With a view to empower the younger generations and contribute to India’s growing knowledge economy, Karnataka Bank Ltd announced the launch of two innovative financial products: KBL Peak and KBL Genius.
Karnataka Bank has announced the launch of two innovative financial products – KBL Peak, an education loan with up to Rs 2 crore financing and comprehensive coverage, and KBL Genius, a student savings account featuring a first-of-its-kind free cyber insurance and exclusive benefits.
On this occasion, Srikrishnan H, Managing Director & CEO, emphasised the significant role that Karnataka Bank plays in financially empowering students and their parents to access quality education. Sekhar Rao, Executive Director of Karnataka Bank, was also present at th launch event of products
“With India’s demographic dividend at its peak, investing in our youth is not just a social responsibility but a strategic imperative,” he stated. “With the KBL Peak Education Loan and KBL Genious Savings Account, Karnataka Bank aims to help students pursue their academic goals and aspirations with financial freedom, contributing to a brighter future for both individuals and the nation.”
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KBL Peak Education Loan
KBL Peak Education Loan is a comprehensive product that supports students pursuing higher education in India and abroad. With loan amounts up to Rs 2 crore, KBL Peak covers a wide range of expenses, including tuition fees, accommodation, travel, books, and laptops. It offers a flexible interest rate structure based on factors like the applicant’s educational institution ranking and co-applicant’s credit score, making it accessible to students from diverse backgrounds.
Furthermore, KBL Peak provides a pre-admission sanction letter, simplifying the admission process, and includes credit life insurance for both the student and the parent, ensuring comprehensive financial protection. The product also offers a concession in Rate of interest for the Girl Student pursuing higher studies in STEM courses.
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KBL Genious Savings Account
KBL Genious Savings Account is a student-focused product available in two variants: KBL GENIUS Signature and KBL GENIUS Advantage. This account is designed to introduce students to essential banking services and foster lifelong financial literacy. With features like a minimum average balance (MAB) requirement, seamless digital transactions, and exclusive benefits on debit cards, KBL Genius empowers students to manage their finances effectively. Uniquely, KBL Genius also includes a first-of-its-kind free cyber insurance coverage, safeguarding students in today’s digital world.
Sekhar Rao, Executive Director, highlighted the bank’s commitment to societal growth through education and how these products will contribute to the bank’s success. “By investing in students, we invest in the future,” he noted. “KBL PEAK and KBL GENIUS are crafted to provide the necessary financial foundation for students to pursue their dreams and contribute meaningfully to society. With KBL Peak, we’re capturing a significant share of the growing education loan market, offering competitive loan amounts and unique features like credit life insurance for both student and parent.”
