The minimum balance for Canara Bank depends on the type of account you hold with them. There are a variety of savings accounts, each with specific minimum balance requirements. It starts at Rs500 for those who have an account in the rural branch. Keep reading to know more.
What is the Canara Bank Account Minimum Balance?
In a regular savings account, metro and urban branches have a minimum quarterly average balance of Rs2,000. However, for semi-urban branches, it is Rs1000 and Rs. 500 for rural branches.
Canara Basic Savings Bank Deposit Account has no minimum balance requirement, making it suitable for those who prefer a zero-balance account with basic banking services.
The account for senior citizens, i.e., Canara Jeevandhara-SB Account is generally lower than regular savings accounts and varies by branch location.
For Canara SB Power Plus Account, high-end savings account requires a minimum QAB of Rs1 lakh across all branches, offering additional perks such as free insurance and locker discounts.
Maintaining the required minimum balance is crucial to avoid penalties, which can vary based on the type of account and branch location. This is all about what is the minimum balance in Canara Bank.
Get Up to Rs. 10 Lakhs Instantly in Your Bank Account Via NB Instacash Read more:What Happens if Minimum Balance is Not Maintained?
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What is the Minimum Balance in Canara Bank?
Rashmi
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2 months
2024-08-30T19:17:05+00:00 2024-09-29T10:46:50+00:00Comment
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