Product Details
Bank Name
Canara Bank
Account Name
Canara Small Saving Bank Deposit Account
Account Type
Saving
Interest Rate
Balance of less than Rs. 50 Lakh-2.90 and Balance of Rs. 50 Lakh to less than Rs 5 Cr-2.90.
Free Debit Card
Yes Canara Classic
Account Opening Fees
0
Debit Card Charges
Rs 125+ GST
Annual Maintenance Fees
0
NEFT 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.
Minimum Account Balance
0
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 of
Canara Small Saving Bank Deposit Account
Canara Small Saving Bank Deposit Account
Special Features
Passbook facility.
The services available in the account will include deposit and withdrawal of cash at bank branches, receipt/credit of money through electronic payment channels or by means of deposit/ collection of cheques, etc.
No charge will be levied for non-operation/activation of inoperative Canara Small Savings Bank Deposit account.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
Canara Small Saving Bank Deposit Account
Pros & Cons of
Pros
Passbook facility.
The services available in the account will include deposit and withdrawal of cash at bank branches, receipt/credit of money through electronic payment channels or by means of deposit/ collection of cheques, etc.
No charge will be levied for non-operation/activation of inoperative Canara Small Savings Bank Deposit account.
Cons
Low interest rates.
Canara Small Saving Bank Deposit Account
Canara Small Saving Bank Deposit Account
The account comes with low interest rate and offers 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
Review of
Canara Small Saving Bank Deposit Account
Account Opening and Procedure of
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.