Product Details
Bank Name
Canara Bank
Account Name
Canara Payroll Package Platinum 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 Select card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
Nil
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Canara Payroll Package Platinum Bank Account
Special Features
Instant overdraft facility upto INR 3 lakh.
75% concession in processing charges of retail loans.
Personal loan available with competitive ROI.
15% concession on locker rent.
3 domestic airport lounge access per quarter and 3 international airport lounge access per annum.
Eligibility Criteria
Any salary holder can open account.
Age – 18 to 65 years.
Salary Band: ₹ 1,50,000/- & above. (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 3 lakh.
75% concession in processing charges of retail loans.
Personal loan available with competitive ROI.
15% concession on locker rent.
Unlimited free locker operations.
Free NEFT/RTGS/IMPS.
Free SMS alerts.
Free zero-balance family accounts.
3 domestic airport lounge access per quarter and 3 international airport lounge access per annum.
Cons
Low interest rates.
Canara Bank has a limited branch and ATM network.
Canara Payroll Package Platinum Bank Account Review
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of 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?
The account can be opened by employer on behalf of employee.