Especially designed for individuals above 60 years of age so that even they could enjoy the benefits of a saving bank account along with some extra care and facility.
Features
Eligibility | Only Resident Senior Citizens who have reached the age of 60 or above |
Initial Balance | Zero |
Interest rate | 4.00% per annum |
Interest Payment | The interest is paid on a half-yearly basis |
TDS | Not Applicable |
Nomination Facility | Available |
Loan against Deposit | Not Appliacble |
Debit Card | Free, it comes with the name and photo of the card holder |
Cash Withdrawal | A senior citizen can withdraw cash from ATM up to Rs 25,000 per day which is free and unlimited if it is Canara Bank’s ATM. |
Internet Bnaking Facility | Available and free |
Mobile Banking Facility | Available and free |
NEFT/RTGS | 2 remittance free per month |
Health Insurance | Health Insurance by Easy Health Apollo Munich Health Insurance Product is provided up to 65 years, which is available by paying premium at concessional rate to Canara Bank customers.
· Along with this insurance comes floater facility. · Pharmacy discount up to 15%. · Diagnostic discount up to 20% · Your health checkup from Rs 1000 to Rs 2000 is reimbursed upon the sum insured |
Loan Facility | Available, under certain condition :
· Loan is available under the Reverse Mortgage Product as per norms. · Maximum of 2 lacs as loan facility is provided to the Pension Account holder under Canara Pension Product. Or, · there is a facility of Temporary Overdraft Facility up to 50% of monthly pension on request after 15 days from last pension credit. |
Personal Accident Insurance | In case of accident a coverage of up to Rs 2 lacs is given to customer if
· the individual maintains the Pension Account with Canara Bank · one should maintain average minimum balance of Rs 20,000 |
Documents Required | · Application
· Applicants Signature Card · Copy of PAN card/Form 60 or 61 (in case of no PAN card) · Identity Proof · Address Proof · Proof of age to be provided in the bank. |
Get More Details About Saving Account
Canara Bank SB Power Plus Scheme
Canara Bank Payroll Package Saving Bank Account
Canara Bank CanSaral Saving Bank Account
Canara Bank Savings Bank Gold Scheme