Canara Bank extended 3 New Variants under “Canara SB Premium Payroll” Salary Account with competitive features

Canara Bank introduced three new variants along with revamped existing product under “New Canara SB Premium Payroll Package” i.e., GOLD, DIAMOND & PLATINUM with competitive features to boost the field in garnering Payroll Accounts of Corporate employees who are willing to open their accounts individually.

Canara Bank is pioneer amongst Public & Private Sector Banks in providing “FREE TERM LIFE INSURANCE” to the Salaried Account Holders. We need to aggressively popularize the product to increase the payroll accounts base. Minimum number of employees of a Firm/Company – 5 (For Silver Variant). No cap in Minimum number of employees of a Firm/Company for Gold, Diamond & Platinum.

Canara SB Premium Payroll Scheme (CPPS) – for Salaried Persons

VARIANT	SILVER (131)	GOLD (144)	DIAMOND (145)	PLATINUM (146)
Salary Band (Gross)	Up to 50,000/-	50,000/- to 1,00,000/-	1,00,000/- to 1,50,000/-	Above 1,50,000/-
Additional Zero Balance Family A/cs	Nil	Spouse + 1 Child	Spouse + 2 Children	Spouse + 2 Children
Overdraft	Up to 10,000/-	Up to 1,00,000/-	Up to 2,00,000/-	Up to 3,00,000/-
Debit Card Variant	Rupay Platinum Debit Card	Rupay Platinum Debit Card	Rupay Select Debit Card	Rupay Select Debit Card
Debit Card withdrawal at our Bank ATMs	6 Transactions- Free	Unlimited Transactions	Unlimited Transactions	Unlimited Transactions
Demand Draft	2 DDs Free/month	Free Unlimited	Free Unlimited	Free Unlimited
Credit Card Annual Maintenance Charges	–	25% Waiver	50% Waiver	100% Waiver
Processing Charges for Retail Loans	–	25% Concession	50% Concession	75% Concession
Concession on Locker Rent	–	5%	10%	15%
Personal Accident Insurance (PAI)	6,00,000/-	26,00,000/-	44,00,000/-	54,00,000/-
Air Accident Insurance (AAI)	8,00,000/-	28,00,000/-	38,00,000/-	58,00,000/-
Spouse PAI	2,00,000/-	2,00,000/-	2,00,000/-	2,00,000/-
Spouse AAI	4,00,000/-	4,00,000/-	4,00,000/-	4,00,000/-
Term Life Insurance	Nil	2,00,000/-	4,00,000/-	6,00,000/-

Common Features of Canara Bank Salary Account – Silver, Gold, Diamond & Platinum Variants

Minimum Balance
Zero Balance (No Minimum Balance Required)

NFT/RTGS/IMPS/SMS
Free

Cheque Book
Free 200 Cheque leaves per annum.

Lounge Access
2 Times in a Quarter in Domestic Airports, 2 Times in a Year in International Airports

Baggage Cover
25,000/-

Purchase Protection
25,000/-

Cash Withdrawal
1,00,000/- per day

POS Limit
5,00,000/-

NFC Contact less
25,000/- per day

Locker Operation
Unlimited Operations

Credit Card Issuance Charges
Free