Canara Angel: Empowering Women’s Financial Journey with a Tailored Savings Account
With a strategic focus on garnering quality deposits and to implement the concept of offering the right product to the right customer, Canara Bank introduced a new Savings Bank Account “CANARA ANGEL” exclusively for women. The account has three variants namely, Lavender, Rose and Orchid as per the minimum quarterly average balance maintained.
What is Canara Angel? 😇
Canara Angel is a women-centric savings account from Canara Bank. It goes beyond traditional savings by offering a combination of attractive Insurance Cover, exclusive benefits, and access to financial tools to empower women to save, manage, and grow their finances independently.
Eligible Customer Types
All Women (Individual / Senior Citizen / Blind / Illiterate) aged from 18 years up to 70 years are eligible for Canara Angel Saving Account Opening
Top Premium Facilities of Canara Angel Saving Account 🗒️
- Offers in Top e-Commerce sites like Urban Company, BookMyShow, Myntra, Swiggy and Amazon.
- Free Health Insurance cover upto Rs. 10 Lakhs for Cancer Care Protection
- Personal Accident Insurance cover upto Rs. 20 Lakhs (over and above card-based insurance) to the primary account holder.
- Zero service charges on SMS alerts, IMPS/RTGS/NEFT and locker Operations.
- Eligible for Free Airport Lounge Access:
2 Domestic Airport Lounge access per quarter and
2 International Airport Lounge access annually
(Participating lounges are listed on the Rupay website)
30+ Premium Features of Canara Angel Saving Account Variants 📣
9 Value Added Features 🎁
| SERVICES / VARIENTS | LAVENDER 🪻 | ROSE 🌹 | ORCHID 🌸 |
| Family Banking | Not Available | Zero Balance account for any 2 family members (Spouse/children) | Zero Balance account for any 3 family members (Spouse/children) |
| Locker rent waiver for first year | Not Available | 10% | 15% |
| Preferential Rate for retail Loans | 0.05% on ROI | 0.05% on ROI | 0.05% on ROI |
| NEFT/RTGS/IMPS/DD Charges | Free | Free | Free |
| SMS alerts | Free | Free | Free |
| Cheque Book facility | Free up to 20 Cheque leaves per Annum | Free up to 50 Cheque leaves per Annum | Free up to 200 Cheque leaves per Annum |
| Locker Operations | Unlimited | Unlimited | Unlimited |
| Portability | Portability is available to the proposed product | Portability is available to the proposed product | Portability is available to the proposed product |
| Auto sweep facility Beyond Rs. 1 Lakh | Available | Available | Available |
7 Debit Card Features 💳
| SERVICES / VARIENTS | LAVENDER 🪻 | ROSE 🌹 | ORCHID 🌸 |
| Debit Card | Rupay Platinum Debit Card | Rupay Platinum Debit Card | Rupay Woman Platinum Debit Card |
| Annual Maintenance Charge (AMC) | Free | Free | Free |
| Free ATM card access in Canara ATM per month | 5 Transactions (Financial + Non-Financial) | 5 Transactions (Financial + Non-Financial) | 5 Transactions (Financial + Non-Financial) |
| Free ATM card access in other ATM per month | 3 at metro and 5 at other centres | 3 at metro and 5 at other centres | 3 at metro and 5 at other centres |
| ATM Cash Withdrawal Limit | Rs.1,00,000/- | Rs.1,00,000/- | Rs.1,00,000/- |
| POS Limit | Rs.5,00,000/- | Rs.5,00,000/- | Rs.5,00,000/- |
| NFC (Contactless) | Rs.25,000/- (₹ 5000/- per occasion and 5 transactions per day) | Rs.25,000/- (₹ 5000/- per occasion and 5 transactions per day) | Rs.25,000/- (₹ 5000/- per occasion and 5 transactions per day) |
7 Features of Rupay Woman Platinum Debit Card 💳
| Brand | Offer (for Orchid Variant) |
| Health Checkup | Health check-up includes complete urine analysis, diabetes, complete hemogram, Iron deficiency, renal, lipid, liver and thyroid once in a year |
| Urban Company | Complementary annual subscription |
| Lounge | 2 Complementary domestic visits per quarter 2 Complementary international visits per year The list of participating lounges are available here |
| Amazon | Flat 20% off upto Rs. 100; min purchase Rs. 129; once in a month |
| Swiggy | Flat 20% off upto Rs. 100; min purchase Rs. 129; once in a month |
| Book My Show | Flat Rs. 250 off per year on min booking of 2 movie tickets |
| Myntra | Rs. 500 shopping coupon |
9 Insurance Cover for Account Holder 🛡️
| COVER | LAVENDER 🪻 | ROSE 🌹 | ORCHID 🌸 |
| Cancer Care Protection | Rs. 3 Lakhs | Rs. 5 Lakhs | Rs. 10 Lakhs |
| Personal Accident Insurance (PAI) | Rs. 2 Lakhs | Rs. 10 Lakhs | Rs. 20 Lakhs |
| PAI as per Cancare Policy – for Self | Rs. 4 Lakhs | Rs. 4 Lakhs | Rs. 4 Lakhs |
| – for Spouse | Rs. 2 Lakhs | Rs. 2 Lakhs | Rs. 2 Lakhs |
| PAI as per Rupay Debit Card | Rs. 2 Lakhs | Rs. 2 Lakhs | Rs. 2 Lakhs |
| Air Accident Insurance (AAI) – for Self | Rs. 8 Lakhs | Rs. 8 Lakhs | Rs. 8 Lakhs |
| – for Spouse | Rs. 4 Lakhs | Rs. 4 Lakhs | Rs. 4 Lakhs |
| Baggage Insurance | Rs. 25000/- | Rs. 25000/- | Rs. 25000/- |
| Purchase protection | Rs. 25000/- | Rs. 25000/- | Rs. 25000/- |
| Total | Rs. 25 Lakhs | Rs. 35 Lakhs | Rs. 50 Lakhs |
Service Charges, if applicable 💲
| SERVICES / VARIENTS | LAVENDER 🪻 | ROSE 🌹 | ORCHID 🌸 |
| Quarterly Average Balance (to be deposited in T+3 working days) | Rs. 5,000/- | Rs. 30,000/- | Rs. 1,00,000/- |
| Non maintenance of Min Balance Charge per quarter | Upto Rs. 100/- | Up to Rs. 150/- | Upto Rs. 750/- |
| Account Closer Charge (before one year) | Rs. 200/- | Rs. 500/- | Rs. 1000/- |
Terms & Conditions 📃
General 📜
- The customer will be given a provision to deposit the initial amount, Rs. 5000 for Lavender, Rs. 30,000 for Rose and Rs. 1,00,000 for Orchid variant, within 3 working days (T+3) of Canara Angel account opening. But if it is found that even after 3 working days (Excluding Account Open Date), customer has not deposited the minimum initial deposit, the account shall be converted to General SB Account, on fourth day and applicable charges will be applied for issuance of debit card/Cheque book etc.
- The features including cancer care policy and PAI (Personal Accident Insurance) will be withdrawn if the customer fails to maintain the required quarterly average balance for the preceding quarter and applicable charges as per normal savings account will be debited. The features will be restored from the next quarter once the customer meets the required QAB requirements for the ongoing quarter.
- Presently the debit cards as per the variant will be automatically dispatched to the customer’s address.
- All other charges, not mentioned under account features, will be as applicable to normal savings account.
- All other scheme guidelines are as applicable to normal savings account.
- The insurance policies, both cancer care policy and personal accident care policy, will not be renewed once the primary account holder attains the age of 70 years. The account holder can enjoy other features like card-based offers and other account-based offers by maintaining the account after the age of 70 years.
Health Insurance – Cancer Care Policy 🏥
Cover
Critical Illness which shall cover only Cancer indemnity cover
Type of Cover
Cancer Indemnity cover including:
- Hospitalization cover (inpatient incl. day care and outpatient)
- b. Conventional treatments (e.g., including but not limited to Chemotherapy, Radiotherapy, organ transplantation (for cancer), Surgeries for excision of cancerous tissue or removal of organs/ tissues (Onco-surgery) etc.
- Pre and post hospitalization (30 and 60 days)
- Ambulance charges upto INR 2,000 per hospitalization
- Follow up care post treatment – upto INR 3,000 twice a year, after treatment for Cancer has been discontinued basis recommendation of Medical Practitioner for at least six months with “No evidence of disease (NED)”
- The policy is currently available in reimbursement mode only.
Age Group
18 to 70 years as on date of Canara Angel account opening
Pre-existing cover
Any detection of cancer prior to inception of policy will not be covered
Medical Examination
No medical examination during enrolment.
Waiting period
90 days waiting period from date of account opening/conversion for policy issue.
Other Terms
- In case of multiple Canara Angel accounts, the insured will be eligible to claim under one account (higher variant) provided all other conditions are met.
- The cover is applicable only for primary account holder.
Personal Accident Insurance ⚠️
(over and above card based PAI)
Cover
Personal Cover (PAI) (Death due to accident including while on and off duty)
Coverage
24×7 Worldwide
Other Terms
- Policy shall cover all claims where accident has occurred within the policy period, and death has occurred (i) within the policy period or (ii) after the expiry of policy, but within twelve calendar months from the date of accident
- In case of multiple accounts, the insured will be eligible to claim under one account with highest sum insured.
- The cover is applicable only for primary account holder of Canara Angel Saving Account.
- Coverage will be eligible for active accounts as on the date of death of account holder.
- Claim to be intimated within 90 (ninety) days of the death or accident of the account holder. The supportive documents may be submitted by the claimant after intimation within 180 days of the date of death or accident.
Age Group
18 to 70 years as on date of account opening
Beneficiary of claim
- The nominee recorded in Bank will be beneficiary for the purpose of insurance claim.
- In case, the account is opened as joint account, then the beneficiary will be the surviving account holder(s) for the purpose of insurance claim even if a nominee is available in the account. (Bank’s role will be limited only to certify the names of surviving joint account holder(s) as per Bank records).
- In case, the account is opened as joint account, in event of death of all the account holders, the nominee, if available, will be the beneficiary for the purpose of insurance claim.
- In case no nominee is registered with bank, claim will be settled to the legal heir based on legal heir certificate.
Waiting Period
Policy valid from date of Canara Angel account opening.
Frequently Asked Questions 🤔
Q. Does the Canara Angel Savings Account offer comprehensive health insurance coverage?
No, Canara Angel Saving Account covers only Cancer Care Protection, Personal Accident Insurance (PAI) including Air Accident Cover.
Q. Who is eligible to open the Canara Angel Savings Account?
The Canara Angel Savings Account can be opened by any woman, including individuals, senior citizens, blind or illiterate, aged between 18 up to 70 years.
Q. Is an initial deposit required after opening the Canara Angel account?
Yes, an initial deposit based on the chosen variant needs to be credited within 3 days, from the date of account opening. The initial deposits should be Rs. 5,000 for Lavender Variant, Rs. 30,000 for Rose Variant, Rs. 1,00,000 for Orchid Variant.
Q. Can a walk-in customer open a Canara Angel account from a branch or through online mode?
Both the options are available for the walk-in customer.
Q. Can existing savings accounts be ported to Canara Angel or a higher variant?
Yes, existing savings accounts can be ported to the Canara Angel Women Savings Account. However, only accounts with the gender specified as “Women” will be allowed to port into the Canara Angel account. Reverse portability is also available from this product to other general Savings Bank (SB) products. A product conversion/declaration form has to be filled by the customer.
Q. Should the average balance be present in the Canara Angel account at the time of portability?
Customer to maintain the minimum QAB required once it has been converted to the Canara Angel product.
Q. What happens if the QAB is not maintained for Canara Angel account? Will the features be withdrawn?
In case of non-maintenance of QAB for one calendar quarter, there shall be a penalty and all the features associated with the account will be withdrawn.
Q. Can a Canara Angel joint account be opened with the spouse or any other person?
No, joint accounts are not permitted under this scheme as of now. Porting of joint account to this product is also not allowed.
Q. Will customers continue to get the features and benefits after they turn 70 years?
The Cancer care policy and Personal Accident Insurance will not be renewed after the customer turns 70. All other features mentioned in the product will be available.
Q. What is Family Banking in the context of the Canara Angel account?
Family Banking is a feature that allows the primary account holder to link Zero Balance accounts of family members to their own. However, Primary account should maintain the stipulated QAB as per the variant. This feature is available for the Rose and Orchid variants of the Canara Angel account and not available for the Lavender variant.
Q. Who can be included in the Canara Angel’s Family Banking feature?
The primary account holder can include any 2 family members (Spouse or children) for the Rose variant and any 3 family members (Spouse or children) for the Orchid variant.
Q. What is the procedure for accessing family banking under Canara Angel, and is there any specific application/request that needs to be obtained?
To access the family banking feature under Canara Angel, the customer must submit a request letter to link their family member to this service. Once the branch receives this request, they will update the family details. After this update, the zero balance services will be activated automatically.
Q. Whether product upgradation/degradation is available within Canara Angel variants?
Product upgradation/degradation is available within variants of Canara Angel only after completion of one year of account opening since the insurance policies are valid for one year.
Q. Can customers request additional cheque books beyond the free limit?
Yes, cheque leaves beyond their respective free limit will be chargeable as per the applicable guidelines.
Q. Can only the specific card embedded with the product be issued? What if I want a Visa/MasterCard?
All newly opened accounts will get a welcome kit with a Rupay platinum card or Rupay Woman Platinum Debit Card as per the eligible variant. However, if the customer wishes to have an additional card with VISA/Master, it can be issued separately as per the guidelines. Applicable charges will be debited for all additional cards.
Q. What are the customised card features extended by the Rupay Woman Platinum Debit Card under Canara Angel?
Customized card features include health check-ups, Urban Company subscription, Airport lounge access (Participating lounges are listed on the Rupay website), discounts on Amazon, Swiggy, BookMyShow, Myntra, and all ongoing offers of Rupay Cards.
Q. How can the I avail themselves of the health check-up benefit associated with the debit card?
Customers can avail themselves of the health check-up benefit associated with the debit card by utilizing the offers provided with the Rupay Woman Platinum Debit Card. Typically, the health checkup benefit includes a comprehensive health examination once a year. Customers can visit NPCI website to redeem the facility at empaneled healthcare facilities listed by the NPCI to avail this benefit. They need to present their Rupay Woman Platinum Debit Card at the designated healthcare facility to avail the complimentary health check-up.
Q. Are all the Canara Angel account holders eligible for Free Cancer Care Insurance? Do I need to pay a premium for it?
Canara Angel Account holders of all the three variants are eligible for cancer care insurance as per the account variant. Customers do not need to pay a premium as it is offered free to them by the bank. The eligible Free cancer care insurance amount associated with the variant Lavender is 3 Lakhs, Variant Rose is 5 Lakhs, Variant Orchid is 10 Lakhs.
Q. Is there a waiting period for the Cancer Care Policy under Canara Angel?
There is a 90-day waiting period from the date of account opening for the Cancer Care Policy.
Q. What is the waiting period for PAI coverage under Canara Angel?
The account holder is covered from 3 days from date of account opening subject to fulfilling initial
deposit criteria.
Q. What are the terms and conditions of the Cancer Care Policy under Canara Angel?
The Cancer Care Policy covers critical illness related to cancer, including hospitalization cover, conventional treatments, pre and post-hospitalization expenses, ambulance charges, and follow-up care. It applies to individuals aged 18 to 70 years, with no medical examination required at enrolment. Pre-existing conditions are not covered. The policy is available in reimbursement mode and is not a cashless facility.
Q. Can I opt for additional insurance coverage beyond what is provided with Canara Angel Accounts?
No, customers cannot opt for additional insurance coverage beyond what is provided with “Canara
Angel” accounts. The insurance coverage provided with Canara Angel accounts includes Cancer
Care policy and Personal Accident Insurance (PAI), and there is no provision for additional insurance
coverage beyond these offerings.
Q. Can customers nominate beneficiaries for the insurance policies associated with “Canara Angel” accounts?
Yes, the nominee of the account holder as mentioned in account will be the beneficiary of the insurance policy associated with Canara Angel.
Q. Are there any limitations to the insurance coverage for Personal Accident Insurance?
Yes, there are limitations to the insurance coverage for Personal Accident Insurance (PAI) associated with “Canara Angel” accounts. The insurance coverage for PAI is available only up to the age of 70 years. Once the customer reaches the age of 70, they will no longer be eligible for renewal of the PAI coverage under the “Canara Angel” accounts.
Q. Whether any insurance policy will be issued to the customer with regard to Cancer care policy available with Canara Angel?
No insurance policy will be provided to the customer, instead, the customer id will serve as the
reference for the insurance claim process.
Q. What is the procedure for filing a claim for Canara Bank Angel GPA and Critical Illness (Cancer Care) policies?
To file a claim for Canara Bank Angel GPA and Critical Illness (Cancer Care) policies, Customer should contact via email at claim.affinity@globalinsurance.co.in.