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Product Details
Bank Name

Canara Bank

Account Name

Canara Junior Saving Account

Account Type

Saving

Interest Rate

2.9%

Free Debit Card

No.

Canara Junior Saving Account
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

INR 0

Debit Card Charges

INR 200 + GST

NEFT Charges

Upto INR 1,000 - Nil. INR 1,000 to below INR 10,000: INR 3 + GST. INR 10,000 to below INR 25,000: INR 5 + GST. INR 25,000 to below INR 1,00,000: INR 8 + GST.

IMPS Charges

Up to Rs.10,000- Rs. 2.25,Rs.10,001 and up to Rs.1 lakh-Rs. 4.75,Above Rs.1 lakh and up to Rs.2 lakhs-Rs.14.75.

Fees and Charges

Canara Junior Saving Account

76.5
Special Features

Account can be operated by minor on obtaining NOC from parent. 

Eligibility Criteria
  • Minor students above the age of 10 years can open and operate SB A/c in their own name, independently.

Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  • Conversion of the account into regular SB account after the child attains majority.

  • Account can be operated by minor on obtaining NOC from parent.


Cons
  • Low intreast rate.

  • Limited value add features. 

Canara Junior Saving Account Review

The account comes with low interest rate and minimal value add features.

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Account Opening and Procedure
How to open an Account?

Steps:

  1. Visit a Canara Bank Branch: Go to the nearest Canara Bank branch with all the required documents.

  2. Submit the Application: Fill out the application form accurately and submit it along with the necessary documents to the bank official.

  3. Account Opening: The bank official will verify your documents and initiate the account opening process.

  4. Receive Account Details: Once the account is opened, you will receive the account number, passbook (if applicable), and other relevant details.

Application Procedure
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