This is a type of small saving bank deposit scheme which allows you to open the account even when you are unable to produce full KYC(Know Your Customer) documents as part of the financial inclusion objective of RBI.
Features
| Eligibility | Individual in his/her name |
| Application | · To open Canara Small Savings Bank Account application is to be submitted which should be made in the bank’s prescribed form.
· The applicant has to submit two recent passport size photograph. |
| Internet Banking Facility | Available |
| Mobile Banking Facility | Available |
| Passbook Facility | Available |
| Transfer ability | You can transfer your account from one branch to another. |
| Standing Instruction | Available |
| Withdrawal | The limitation for withdrawal in the account should not exceed Rs 50,000 and the total credit should not exceed Rs. 1,00,000. However, the aggregate of all the withdrawals and transfer in a month should exceed the limit of Rs. 10,000 |
| Nomination Facility | Available |
Terms and Condition
- Canara Small Saving Bank Deposit Account is operational initially for a time period of 12 months.
- Foreign money is not acceptable to be credited in this account until and unless the identity of the customer is fully verified.
- Under this scheme if you opt to open an account then you cannot hold any other operative account with the branch/bank.
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