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. |
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