Cash deposits in Canara Bank accounts of up to Rs. 50,000 are
free for 3 transactions in a month, and then
there will be a service charge of ₹1 per thousand, with a
minimum of ₹50 and a maximum of ₹5,000-plus GST.
This will be effective from July 1.
The bank, however, gives five free cash withdrawals for
saving banks (SB) accounts.
However, senior citizen and Jan Dhan holders are exempt from the new levy.
This move coincides with transaction charges on National Electronic Funds
Transfer (NEFT) and Real Time Gross Settlement (RTGS) being waived off
complying with RBI guidelines from July 1.
SBI charges Rs 5 for the fifth withdrawal and Rs 50 as charges
for the fourth cash deposit and thereafter.
About Canara Bank:
Founded: 1 July 1906
Founder: Ammembal Subba Rao Pai
Headquarters: Bengaluru
Chairman: T.N. Manoharan
Tagline: Together we can
