| 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- The minimum amount that may be deposited/ withdrawn “IN CASH” in an account is as prescribed by the bank from time to time.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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