The Canara Bank Jeevandhara saving account is specialised for senior citizens and offers multiple free benefits for the elders.
Canara Bank offers a specialised saving bank account for senior citizens. The Canara Bank Jeevandhara saving account is specialised for senior citizens and offers multiple free benefits for the elders. According to the bank, senior citizens (resident Indians only) who have attained the age of 60 years and above are eligible for the account. While the account can be opened with zero balance, senior citizens are required to maintain an average yearly balance of around Rs 20,000 or around Rs 1,700 per month. The deposits in the account earn 2.9 per cent interest per annum.
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The bank provides free debit cards with the name and photo of the account holders. A free debit card means that the bank won’t charge any fee for issuing the car or no annual charge will be levied. The daily ATM cash withdrawal limit for the Jeevandhara saving account is Rs 25,000.
The bank also provides unlimited ATM transactions for free on all ATMs of Canara Bank. The bank also provides account statements every month for free besides the Pass Book facility.
Other free services include SMS alerts, interbank mobile payments, net banking, and two NEFT/RTGS remittances per month.
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As far as the chequebook facility is concerned, a senior citizen account holder can get a cheque printed up to 60 leaves per annum for free.
The Canara Bank also provides a loan facility for pension account holders. “Under Canara Pension Product-up to 10 times of monthly pension, max 2 lakhs of loan can be granted,” said the bank on its website.
The bank also provides assistance in the writing of Will and Executant service at a nominal fee with full confidentiality provided to the account holders.
Senior citizens also get up to Rs 2 lakh worth of personal accident insurance if the account holder maintains a pension account with the bank.
