Karnataka Bank Launches 2 Financial Products for Students: KBL Peak & KBL Genius

Current Context: On November 14, 2024, Karnataka Bank launched two new financial products for students in Mumbai.

• The KBL Peak education loan offers financing up to ₹2 crore to cover tuition fees, accommodation, travel, books, and laptops.
• The KBL Genius student savings account includes free cyber insurance and features like low minimum balance, seamless digital transactions, and exclusive debit card benefits.
• These products aim to support students in pursuing their academic goals with financial freedom.

Question:

1. What is the maximum financing amount provided under the KBL Peak education loan launched by Karnataka Bank on November 14, 2024?

• A) ₹50 lakh
• B) ₹1 crore
• C) ₹2 crore
• D) ₹5 crore

Answer: C) The KBL Peak education loan provides financing up to ₹2 crore to cover various academic expenses, including tuition fees, accommodation, travel, books, and laptops.