This particular scheme is basically meant for the senior citizens and is available under two accounts the Domestic Fixed Deposits Account and Kamdhenu Deposits.
Features
| Eligibility | · Individuals (above 60 years of age)
· Joint Account (the first account holder in whose name the account has been open must be a senior citizen) |
| Minimum Deposit Amount | The minimum amount of deposit is Rs 1000 |
| Maximum Deposit Amount | No limitation |
| Tenure | · Domestic Fixed Deposit : the minimum period is 15 days and the maximum period is 120 months.
· Kamdhenu Deposit : the minimum period is 5 months. |
| Interest rate | You get to enjoy additional 0.50% of interest rate among all the maturities no matter the size of the deposit. |
| Periodicity of Interest Payment | · Domestic Fixed Deposit : the periodicity of interest payment is paid on monthly, quarterly, half yearly.
· Kamdhenu Deposits : the interest is compounded quarterly. |
| TDS | Applicable |
| Nomination Facility | Available |
| Loan Facility | Avail, up to 90% of the balance deposit amount |
| Penalty for premature closure | A charge of 1% penalty is levied on premature closure of your deposit account |
| Mandatory Documents | At the time of opening the account the following documents are required :
· Secondary School Leaving Certificate to verify the date of birth. · LIC Policy · Voters Identity Card · Pension Payment Order · Birth Certificate issued by the competent authority · Passport |
| Documents Required | · Copy of PAN Card/Form 60 or 61(in case of no PAN card)
· Passport size photograph · Proof of Identity · Address Proof · Application in Banks’ perscribed from. |
Schemes Related to Canara Bank
Canara Bank Jeevandhara SB Account for Senior Citizen Scheme
Canara Bank Small Savings Bank Deposit Scheme
Canara Bank Champ Deposit Scheme Interest Rates
Canara Bank Tax Saver Scheme – Interest Rates
Canara Bank NSIGSE Savings Bank Deposit Account
Canara Bank Basic Savings Bank Deposit Account
Canara Bank Recurring Deposits – Interest Rates
Canara Bank Savings Bank Gold Scheme
Canara Bank CanSaral Saving Bank Account
Canara Bank Payroll Package Saving Bank Account
Canara Bank Kamdhenu Deposit Scheme
Canara Bank Junior Saving Bank Account Scheme
