| Canara Bank Saving Accounts |
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| Canara Bank savings account can be opened singly / jointly, as minor account, by non- corporate bodies, societies, associations, etc. The minimum balance required to open an account is Rs 500/- without cheque book and Rs 1000/- with cheque book in Metro/Urban whereas in Semi-urban/Rural Branches the account can be opened with Rs 100/- without cheque book and Rs 500/- with cheque book. You have to fulfill documentation criteria laid down by the bank for opening an account. Bank gives an interest which is compounded half-yearly on the minimum balance in the account between the10th and the last day of the month. |
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- NATURE OF DEPOSIT: Running (Operating) account.
- PERIODICITY OF INTEREST PAYMENT: Interest is payable half-yearly, every February and August on the minimum balance in the account, between the 10th and last day of the month.
- SPECIAL RATE FOR SENIOR CITIZEN-Not applicable
- SPECIAL RATE FOR BULK DEPOSITS- Not applicable
- TDS- Not applicable
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- An SB product designed for the common man to provide a basic banking facility as part of the financial inclusion objective of RBI.
- MINIMUM DEPOSIT The account can be maintained even with zero balance.
- WITHDRAWAL/ DEPOSIT:
- Permitted through withdrawal order form, cheque and ATM cum Debit Card
- Maximum 6 withdrawals per month including drawings through ATM free of charge. For withdrawals exceeding 6 per month would be levied a service charge at the rate not exceeding Rs.5/- per withdrawal at the discretion of the branch.
- The minimum amount that may be deposited/ withdrawn “IN CASH” in an account is as prescribed by the bank from time to time. Currently minimum deposit or withdrawal “IN CASH” is Rs.10/-. In case of withdrawal through ATM, the minimum amount is Rs.100/- (Currently).
- TDS- Exempted
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- NATURE OF DEPOSIT Running (Operating)account
- PERIODICITY OF INTEREST PAYMENT Interest is payable half yearly, every February and August on the minimum balance in the account, between the 10th and last day of the month.
- SPECIAL RATE FOR SENIOR CITIZEN Not applicable
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- SPECIAL RATE FOR BULK DEPOSITS Not applicable
- TDS Not applicable
- LOAN AGAINST DEPOSIT Not permitted
- VALUE ADDED FACILITIES:
- DD facility at 50% concession i.e. Re.1/- per Rs.1000/- or part thereof
- Funds transfer under NEFT and RTGS(Canspeed) at 50% concession
- Free Debit Card (as per Bank's rules for issue of Debit Cards)
- Issue of free Credit Card to the 1st account holder (for others as per existing rules of the Bank)
- Waiver of demat account opening charges.
- Free Anywhere Banking (AWB) facility.
- Sweep-in Sweep-out facility: Sweep-in into term deposit of amounts beyond Rs.1,00,000/- at the request(one time) of the customer mentioning the tenor of the term deposit.
- Name printed cheque book.
- Free funds transfer facility through our Internet Banking
- Free Telebanking facility.
- No ledger folio charges.
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Online purchase of goods / booking tickets / making utility bills payment through Internet and debit cards
Free telebanking services
Online trading facility under De-mat (for Joint Accounts – Trading Account in the sole name for First holder of Depository account.)
Fund transfer through RTGS / NEFT at 50% concessional charge
Canara Mediclaim Health Insurance coverage at a competitive premium
Multi City Cheques facility
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The services available in the account will include deposit and withdrawal of cash at bank branches, receipt/credit of money through Electronic payment channels or by means of deposit/ collection of cheques, etc.
No charge will be levied for non-operation/ activation of inoperative Canara Small Savings Bank Deposit account.
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The services available in the account will include deposit and withdrawal of cash at Bank branches, receipt/credit of money through Electronic payment channels or by means of deposit/ collection of cheques, etc.
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- Health Insurance
Under Easy Health Apollo Munich Health Insurance Product up to 65 years, indemnity based coverage is available by paying premium at concessional rate to Canara Bank customers:
1)Floater policy is available
2)Pharmacy discount 15%
3)Diagnostic discount 20%
4) health checkup reimbursement from Rs1000 to Rs.2000 depending upon sum insured
- e- donation
Free to specified Institutions through ATMs and Net Banking
- Loan facility
a) Under Reverse Mortgage Product as per norms.
- FOR PENSION A/C HOLDERS:
b) Under Canara Pension Product-up to 10 times of monthly pension, max 2 Lacs
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c) Temporary Overdraft facility up to 50% of monthly pension on request after 15 days from last pension credit.
- Locker facility
For pension a/c holders
Allotment on priority subject to availability
50% concession on rent - If average balance of Rs. 2 lacs is maintained on annual basis
25% concession on rent for others
Execution of Will
Assistance in writing of Will and Executant service at a nominal fee with full confidentiality provided
- Personal Accident Insurance Cover(For pension a/c holders with us)
Up to Rs.2 lakhs covered subject to :
Maintaining Pension Account with us. Cover will be available from 1st of succeeding month
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Maintaining average minimum balance of Rs.20000/= onwards during previous year on anniversary date. The coverage will be available from the 1st of succeeding month of completion of one year from date of opening the account.
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Personal Accident Insurance (Death Only) available up to Rs.2.00 lacs to Rs.8.00 lacs for self/spouse on issue of credit card as per terms and conditions
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