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CANARA PAYROLL PACKAGE SAVING BANK ACCOUNT

CANARA PAYROLL PACKAGE SCHEME – SAVING BANK ACCOUNT

ELIGIBILITY

Employees of firms/ Corporate (with minimum standing of 1 year) with minimum 25 employees. Salary mandate from Employer firm/ company for credit of salary to Canara Payroll Package Scheme SB Account

INITIAL DEPOSIT

Zero

BALANCE IN THE ACCOUNT

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

NATURE OF DEPOSIT

Running (Operating) account

INTEREST RATE

As applicable to Saving Bank Account. Presently 4% p.a.

PERIODICITY OF INTEREST PAYMENT

Interest is payable half-yearly, every February and August on the daily balance maintained in the account.

NOMINATION FACILITY

Available

VALUE ADDED FACILITIES

Debit Card

Platinum Debit Card with photo:- Free

ATM cash Withdrawal

Rs.50, 000/= in our Bank ATM. In other Bank ATMs limit as permissible for other Banks’ card holders.

ATM Transactions

Free Unlimited in our Bank’s ATMs

Statement of A/cs through Email:

Free every 15 days

SMS Alerts

Available

Inter Bank Mobile Payment system

Available

Net Banking

Available

NEFT / RTGS

Available

DD charges

Two DDs free per month up to the net salary credit received during the previous month

Personalised Cheque Books

Free up to 200 Cheque Leaves per annum

Credit Card

First year free of charge. Credit limit based on annual income.

Insurance Cover

Personal Accident Insurance (Death Only) available up to Rs.2.00 lacs to Rs.8.00 lacs for self/spouse as an inbuilt facility to Platinum Debit Card/Credit Card

Temporary Overdrawing in case of emergency

Permitted up to 50% of previous month’s net salary

subject to the following ceiling:

Net monthly salary

Maximum Eligible Overdrawing

Up to Rs 50,000/-p.m

Rs 10,000/-

Between Rs 50,001/-to Rs 1,00,000/-p.m

Rs 25,000/-

Above Rs 1,00,000/-p.m

Rs 50,000/-

(maximum 2 occasions in a calendar year) for 15 days only.

Concession in processing Charges

50% concession in processing charges for Retail Loans like Housing Loan, Vehicle Loan, Canara Budget etc

ASBA Facility

Available

Demat Account

Available with Trading Account

Reset of password in IMB

Free

PENALTY FOR NON MAINTENANCE OF MINIMUM BALANCE

Rs 100/- p.a for non maintenance of minimum balance

PRE CLOSURE OF ACCOUNT

As applicable to normal SB account

APPLICATION AND DOCUMENTS

Application
Specimen Signature Card
Copy of PAN CARD or Form 60 / 61 (if customer does not have PAN Card)
Photograph of depositor/s (2 copies)
Proof of Photo ID and address as per KYC Norms