Product Details
Bank Name
Canara Bank account
Account Name
Canara Payroll Package Gold Bank Account
Account Type
Salary
Interest Rate
Balance of less than Rs. 50 Lakh-2.90% and a balance of Rs. 50 Lakh to less than Rs 5 Cr-2.90%.
Free Debit Card
Rupay Platinum card
Account Opening Fees
INR 0
Annual Maintenance Fees
INR 0
Minimum Account Balance
Nil
Debit Card Charges
Nil.
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Canara Payroll Package Gold Bank Account
Special Features
Free unlimited transactions at Canara Bank ATMs.
Free term life insurance.
Free personal accidental insurance.
Free air accidental insurance.
5 % concession on locker rent.
25% concession in processing charges of retail loans.
1 domestic airport lounge access per quarter2 international airport lounge access per annum.
Eligibility Criteria
Age – 18 to 65 years
Salary Band – ₹ 50000/- to less than ₹ 100000/-(Monthly)
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free term life insurance.
Free personal accidental insurance.
Free air accidental insurance.
Instant overdraft facility upto INR 1 lakh.
25% concession in processing charges of retail loans.
Personal loan available with competitive ROI.
5% concession on locker rent.
Unlimited free locker operations.
Free NEFT/RTGS/IMPS.
Free debit card issuance with accidental insurance coverage for death.
Free SMS alerts.
Free zero balance family accounts.
AMC charges on debit card fully waived.
Cons
Low intreast rate.
Canara Bank has limited branch and ATM network.
Canara Payroll Package Gold Savings Bank Account
The account comes with a number of value add features. However, the biggest con of the account is low interest rate which limits its appeal.
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?
The account can be opened by employer on behalf of employee.