• A VARIANT UNDER SAVINGS BANK ACCOUNT

ELIGIBILITY

All employees of a firm / company with minimum 25 employees, with standing over one year are eligible to open account under this product.

MINIMUM BALANCE

Minimum monthly average balance of Rs.1000/= from the month succeeding the opening of the account. Rs.100/- per annum to be collected for non-maintenance of minimum balance.

REQUIREMENTS FOR OPENING ACCOUNT

Salary mandate from the employer for the credit of salary to the Canara Payroll Package account is required.

NATURE OF DEPOSIT

Running (Operative) account

INTEREST RATE

As applicable to Savings Bank Accounts

PERIODICITY OF INTEREST PAYMENT

Interest is payable quarterly- as payable in SB accounts.

SPECIAL RATE FOR SENIOR CITIZEN

Not applicable

NOMINATION FACILITY

Available

OTHER FACILITIES

Platinum Debit Card, Pass book/Pass sheet, Nomination, Standing Instructions, Internet & Mobile Banking, SMS Alert facility, DEMAT account etc.

SPECIAL FEATURES

• Two DDs free (per month) up to the net salary credit received during the previous month.
• Free Personalised/non-Personalised Cheque Book- up to 200 leaves per annum
• Free NEFT/RTGS Charges
• Temporary Overdrawing in case of emergency- To be permitted after the account completes 6 months from date of opening with satisfactory dealings and other guidelines as applicable.
• 50% of applicable processing fee only to be collected for Retail Loans like Housing Loan / Vehicle Loan / Canara Budget etc.
• Free Locker Operations

APPLICATION AND DOCUMENTS

As applicable for SB Accounts.