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Product Details
Bank Name
Canara Bank
Account Name
CANARA CHAMP DEPOSIT SCHEME
Account Type
Saving
Interest Rate
Balance of less than Rs. 50 Lakh-2.90 and Balance of Rs. 50 Lakh to less than Rs 5 Cr-2.90.
Free Debit Card
Yes Canara Classic
Account Opening Fees
0
Annual Maintenance Fees
100
Minimum Account Balance
Debit Card Charges
Rs 125+ GST
NEFT Charges
Up to Rs.10,000- Rs. 2.25,Rs.10,001 and up to Rs.1 lakh-Rs. 4.75,Above Rs.1 lakh and up to Rs.2 lakhs-Rs.14.75.
IMPS Charges
Up to Rs. 25,000/- : NIL,Beyond Rs. 25,000/- to Rs. 1 Lakh: Rs. 8/-and Beyond Rs. 1Lakh to up to Rs.5 Lakh : Rs. 15/.
Fees and Charges
CANARA CHAMP DEPOSIT SCHEME
76.5
Special Features
There is an option under the scheme to convert balances in excess of Rs. 15,000/- into Kamadhenu Deposit upon the request of the account holder which shall remain with the Bank until the child completes +2 Education and is eligible for pursuing higher education.
Eligibility Criteria
Children upto the age of 12 years (i.e. till 11 years, 364 days)
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Nomination facility is available,C-Net Banking facility is available (For viewing only),TDS is not applicable for SB Canara Champ Deposit,Loan eligibility Card for Educational loan as per the then prevailing Educational loan scheme,Free collection of cheques/DDs gifted to the child upto Rs. 25,000/- per annum,Attractive Savings Box to cultivate the habit of Savings among children.
Cons
Cheque books are not issued under the scheme,Joint accounts cannot be opened under the scheme,
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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