- Should not have any other operative accounts with the Branch/Bank.
- Aggregate of all credits in a financial year does not exceed Rs.1.00 lac.
- Aggregate of all withdrawals and transfers in a month does not exceed Rs.10,000/-.
- The balance at any point of time does not exceed Rs.50,000/-.
- Foreign remittances shall not be allowed unless the identity of the Customer is fully established through the production of Officially Valid Documents.
Any violation of the stipulations mentioned above will result in restraining the operations in the account. Further transactions will not be permitted in the account until the full KYC procedure is completed.
A Canara Small Savings Bank Deposit Account shall remain operational initially for a period of twelve months and thereafter for a further period of twelve months if the holder of such an account provides evidence before the Bank of having applied for any of the officially valid documents within twelve months of the opening of the said account.