What is the maximum limit for saving account in Canara Bank?
What is the maximum limit for saving account in Canara Bank?
Customers holding the Canara Bank Basic Savings Deposit Account can nominate a person from their family. Since this is a Canara Bank Basic Savings Deposit Account, the total balance at any part of the year should not exceed Rs. 50,000.
How much can I deposit in Canara Bank?
You can deposit any amount of the cash in the Canara Bank account below Rs. 10 Lakh. There are speculations that the limit can be set to Rs. 3 Lakh but there are no confirmations from the RBI as on 09/01/2020.
What is the minimum balance in Canara Bank?
Do I need to maintain a minimum balance for the Canara Bank Savings Account? Yes, you must maintain an average monthly balance of Rs 1000 (applicable for metro, urban and semi-urban branches) / Rs 500 (for rural branches).
How can I get DD in Canara Bank?
How to Create a Demand Draft? Form Filling-You need to visit any of the Canara Bank branch bank and ask for a DD application form. You can even fill the form online. Form Details– The individual is required to provide details such as mode of payment (either cash or cheque).
What happens if minimum balance is not maintained in Canara Bank?
Canara Bank Non-maintenance of Minimum balance charges For Current account: If you are not maintaining an average monthly balance Rs. 1000 (Rural/Semi-Urban Branches), then you will be charged Rs. 60 per day and Max: Rs.
What are the benefits of Canara Bank’s Savings Account?
Canara Bank’s savings account allows customers to save on a regular basis and earn interest of 3.5\% to 4\% p.a. on the funds deposited. If customers maintain a minimum balance of Rs. 10,000 to Rs. 25,000 the bank waves of charges for purchase of 2 DDs of amounts up to Rs. 25,000 a month.
How much money can I keep in my savings account in India?
There is no upper limit to how much money you can keep in your savings account in India. You will, however, need to furnish all the details while filing your income tax returns. Also, as per RBI guidelines, the bank has to inquire about the source of the money, especially if an amount larger than 2 Lakhs are deposited at one go.
Is there a limit on how much money you can save?
No law limits how much you can save and there’s no rule stating that a bank cannot take a deposit if you have a certain amount in your account already. The only limits imposed on the balance of your savings account are the limits imposed by the bank itself. Very few banks impose a limit on your savings account’s balance.
Is there a limit on the balance of my savings account?
The only limits imposed on the balance of your savings account are the limits imposed by the bank itself. Very few banks impose a limit on your savings account’s balance. Banks make money when you deposit your money into an account, so you’re unlikely to ever have a bank turn your deposit away.