Canara Bank Current Accounts: 18 Key Differences between General, Privilege, Elite and Delite Accounts

A Thorough Overview of Canara Bank Current Account Choices: General, Privilege, Elite and Delite Options.

Choosing the right current account can significantly impact your banking experience and financial well-being. Canara Bank offers a variety of current accounts to cater to diverse needs and preferences. This guide will delve into the specifics of Canara Bank’s General, Privilege, Elite and Delite current accounts, helping you make an informed decision.

Types of Canara Bank Current Account 🪙

• General Current Account: This is a basic account for everyday transactions, with features like cheque book issuance, online banking, and ATM access.
• Privilege Current Account: For the growing needs of premier segment of Current Account Customers, opened with special benefits to customer and all other conditions.
• Elite Current Account: A premium account with benefits like free accidental insurance, personalized cheque books, and waived charges on POS transactions and NEFT/RTGS transfers.
• Delite Current Account: The Canara Delite Current Account is a premium banking option tailored for high-net-worth individuals (HNI) who maintain a quarterly average balance of ₹10 lakhs or more. It offers a host of exclusive benefits and privileges, making it a suitable choice for individuals seeking a comprehensive and convenient banking experience.

Choosing the Right Canara Bank Current Account:

The best Canara Bank Current Account for you will depend on your individual needs and banking habits. Consider factors like:

• Transaction volume: How many transactions do you make per month?
• Minimum balance: Can you maintain the required minimum balance?
• Cheque usage: Do you frequently use cheques?
• Special benefits: Are there any specific benefits you need, like discounts or insurance?

18 Differences Between Canara Bank Current Account ⚖️

8 General Facilities and Service Charges 🎉

FACILITIES	GENERAL	PRIVILEGE	ELITE	DELITE
Required Minimum Balance	Average Monthly Balance of: ₹7500/- for Metro ₹5000/- for Urban ₹2000/- for Semi-Urban ₹1000/- for Rural	₹ 1 lakh Quarterly Average	₹ 5 lakh Quarterly Average	₹ 10 lakh Quarterly Average
Non Maintenance of Minimum Balance	₹60/Day, Maximum: ₹500/Month	₹ 1,000 per Quarter	₹ 2,000 per Quarter	₹ 2,500 per Quarter
Free Cash Handling Limit	₹ 1 Lakh per day	₹ 5 lakhs per day, ₹50 lakhs per month	₹ 10 lakhs per day, 1 Cr per month	Free Unlimited at home Branch
Cash Withdrawal Limit	₹ 5 lakhs per month	₹ 5 lakhs per month	₹ 5 lakhs per month	Free Unlimited at home Branch
Cheque Book	₹ 5 per Cheque Leaf	Free up to 500 Cheque leaves per year	Free up to 700 Cheque leaves per year	Free Unlimited
Demand Draft	Available, Charges based on amount	Can be Issued Free	5 DDs Free/month	Free unlimited (issuance) up to Max ₹ 10 lakh/month
NEFT / RTGS	Available, Nominal Charges	Free	Free	Free
SMS Alert Charges / Folio Charges	Actual basis / ₹125 per ledger per Quarter	Actual basis / ₹125 per ledger per Quarter	Free	Free

5 Digital Banking Facilities 📱

FACILITIES	GENERAL	PRIVILEGE	ELITE	DELITE
Debit Card	AMC charge applicable	Platinum Card	Platinum Card	Rupay Select card with Free Issuance & AMC charge
ATM Cash Withdrawal	₹ 75,000 per Day	₹ 1 lakh per day	₹ 1 lakh per day	₹ 1 lakh per day
Credit Card	Issuance Fee – ₹ 250	Free AMC for First year	Free Issuance	Corporate Credit Card Free Issuance & AMC
Bhim QR Sound Box	Rent Rs. 130 per month for 1 year per sound box*	Rent Rs. 130 per month for 1 year per sound box*	Up to 10 boxes Free^	Up to 20 boxes Free
POS Terminal Rent	QR Code – ₹50/month MPOS – ₹200/month GPRS with Printer ₹500/month	QR Code – ₹50/month MPOS – ₹200/month GPRS with Printer ₹500/month	Free for 1 Terminal, MDR charges as applicable	Free up to 3 terminals, MDR charges as applicable

5 Other Facilities 🎁

FACILITIES	GENERAL	PRIVILEGE	ELITE	DELITE
Auto sweep / Reverse Sweep	Available	Over Balance above ₹ 1 lakh	Over Balance above ₹ 5 lakh	Over Balance above ₹ 10 lakh Multiples of ₹ 5 lakh
Locker Operations	Available	Free	Free	Free
Insurance Cover	NA	Accidental Death Cover: ₹2 lakhs to ₹8 lakhs under Platinum Cards	Accidental Death Cover: ₹2 lakhs to ₹8 lakhs under Platinum Cards	Accidental Death Cover: ₹ 10 Lakhs Air Accident: ₹ 8 Lakhs Other than Air: ₹ 4 Lakhs Baggage: ₹ 25,000
Processing Charges	Applicable	Applicable	Applicable	Waiver of 10% on applicable charges for MSME Term Loans
Account closed before 1 Year Penalty	₹ 750	₹ 2000	₹ 2000	₹ 2500

* Monthly Rent is waived for maintaining minimum balance of Rs 50,000/- or OD limit of Rs 10 Lakh and above.

^ If the Minimum Balance Required is not maintained for more than a Quarter, the freebies will be withdrawn.

Related: Canara Bank Revised Service Charges with effect from 03/02/2023

Common Features of Canara Bank Current Accounts 📑

Mobile Banking
On Canara Ai1 Corporate App

Internet Banking Facility
Log on to online.canarabank.in

Eligibility to Open Canara Bank Current Account ✅

1. Individuals
2. Sole Proprietary Concerns
3. Partnership Firms
4. Limited Liability Partnership
5. Hindu Undivided Family
6. Private and Public Limited Companies
7. Public Corporations
8. Registered or Unregistered Societies or Associations/Clubs
9. Trusts/Provident Funds
10. Executors and Administrators
11. Government/Semi-Government Bodies etc, Departments, Taluka/District Boards, Local, Bodies.
12. Charitable and Religious institutions

Documents Required 📄

1. Application in the Banks’ prescribed Form
2. Identity proof, Address proof, Photos, Memorandum and Articles of Association, Certificate of Commencement of Business, Partnership Deed, (wherever required) Certificate of Incorporation and Board Resolution, Registration Certificate (in the case of a registered concern), Certificate / License issued by the Municipal Authorities under Shop & Establishment Act etc. Proof of Photo ID and address as per KYC Norms
3. Specimen Signature Card
4. Three Photographs of Depositor’s
5. Other relevant documents related to business / profession

Product Convertibility 🔄

Existing General Current Account customers of Canara Bank can convert their account to Canara Privilege/Elite/Delite product without changing their account number, for availing the attractive freebies.