Product Details
Bank Name
Canara Bank
Account Name
Canara SB Power Plus
Account Type
Saving
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
Platinum Debit Card
Account Opening Fees
INR 0
Annual Maintenance Fees
INR 0
Minimum Account Balance
INR 1 lac average quarterly balance to be maintained.
Debit Card Charges
Rs 125+ GST
NEFT Charges
Free for online transactions.
IMPS Charges
Free for online transactions.
Fees and Charges
Canara SB Power Plus
Special Features
Free NEFT/RTGS/IMPS.
Free SMS alerts.
Free Platinum Debit card.
Free credit card for the first year.
Eligibility Criteria
Resident Individuals, Joint Accounts, Guardian on behalf of Minors, Associations, Trusts & Institutions, Clubs etc. 2.NRE / NRO Customers.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free chequebooks up to 300 cheque leaves per annum.
Free NEFT/RTGS/IMPS.
Free SMS alerts.
Free Platinum Debit card.
Free credit card for the first year.
Cons
Low intreast rate
Limited value add features.
The bank has limited ATM and branch network.
Canara SB Power Plus
The account has limited value add features. The interest rate is low. Overall the account has limited 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?
Steps:
Visit a Canara Bank Branch: Go to the nearest Canara Bank branch with all the required documents.
Submit the Application: Fill out the application form accurately and submit it along with the necessary documents to the bank official.
Account Opening: The bank official will verify your documents and initiate the account opening process.
Receive Account Details: Once the account is opened, you will receive your account number, passbook (if applicable), and other relevant details.