Karnataka Bank Ltd. has launched two cutting-edge financial initiatives targeting the young and towards growing India's knowledge economy. The bank launched KBL Peak-education loan with high coverage up to 2 crore and an extensive product suite-and KBL Genius-a student savings account that features free cyber insurance and other exclusive benefits-on World Prematurity Day.

Meenakshi Ammal as the chief guest, P S Venkatesh Babu from the education sector and Dr Pradipkumar Dixit from the banking sector once again strengthened the bank's ties with various educational institutions across India, as they found their presence at this occasion. The function was presided over by Srikrishnan H, Managing Director & CEO, Karnataka Bank, in the presence of Sekhar Rao, Executive Director of Karnataka Bank.

Srikrishnan H made a case for investing in the youth in support of India's demographic potential. According to him, educating the students is one of their biggest responsibilities and supporting their aspiration towards education. "With KBL Peak and KBL Genius, Karnataka Bank looks at enabling financial freedom for students to pursue academic dreams that create a stronger future both for individuals and the nation", he said.

KBL Peak Education Loan is an all-inclusive package for students who wish to pursue higher education in either India or elsewhere. Loans up to 2 crore under this product help cover a host of costs such as tuition fees, accommodation, travel, books, and laptops, among others. The loan product also features flexible rates of interest based on the rank given to the educational institution and the credit score of the co-applicant. Besides, it provides an especially pre-admission sanction letter to ease the admission process and credit life insurance for the student as well as for his or her parent. There is special concession on the rate of interest for female students who are pursuing courses in STEM.

The KBL Genius Savings Account targets helping students manage finances efficiently, offering two variants-the KBL Genius Signature and KBL Genius Advantage. This student-specific account allows young users to learn banking services, with education on personal finance. Additionally, it offers low minimum balance, simple digital transactions, and exclusive privileges on debit cards. What makes KBL Genius unique is the free cyber insurance that comes with it, which protects students from pre-existing risks in the digital world.

Investing in education and supporting students is integral to shaping a prosperous future. KBL Peak and KBL Genius are pivotal products that enhance our education loan portfolio and provide long-term value to our customers", says Sekhar Rao, Executive Director, Karnataka Bank. In his view, the bank always respects the responsibilities to contribute toward societal development through education.

Karnataka Bank will provide all these services as a single window outlet for students to include travel insurance, assistance for foreign exchange, and lounge access, thereby an all-round financial ecosystem to the student community. Customer loyalty will be enhanced and product penetration will be deepened with improved profitability for the bank.