CANARACHAMP DEPOSIT SCHEME
Basically an SB deposit for children
Children upto the age of 12 years (i.e. till 11 years, 364 days)
deposit can be any nominal amount with a minimum of Rs.100/-. No penalty in
case of non-maintenance of minimum balance.
RATE OF INTEREST
As applicable to SB deposits. Presently 4.00% per annum.
Cheque books are not issued under the scheme
Joint accounts cannot be opened under the scheme
q Nomination facility is
q C-Net Banking facility is
available (For viewing only)
q Conversion of the account
into regular SB account after the child attains majority
A minimum of two credits in a half year aggregating to Rs. 500/- in Rural and semi Urban Branches and Rs. 1000/- in Urban and Metro Branches (Excluding interest) in order to be eligible for an Educational Loan as per the then prevailing Educational Loan Scheme.
of balance in the account, in excess of Rs.15,000/- for opening of Kamadhenu Deposit upon
the request of the account holder.
OFFER, IF ANY
eligibility card for educational loan as per the then prevailing educational
Savings Box to cultivate the habit of savings among children
photo folder cum personal details with 16 pouches to store photos of the
child and record memorable moments
q Free collection of
cheques/DDs gifted to the child upto Rs. 25,000/- per annum (In Indian Rupees
or foreign currency)
Form 60 or 61 (if
customer does not have PAN Card)
Photograph of depositor/s
Proof of address as per