Learn how to Open Canara Bank Zero Balance Account Opening Online in 2023. No minimum balance is required, access to all the same features and benefits as a regular savings account, and convenient online banking services.
Introduction
A zero balance account is a type of savings account that does not have a minimum balance requirement. This means that you can open a zero balance account even if you do not have any money in your bank account. Zero balance accounts are a great option for people who are just starting out with their finances or who do not have a lot of money to spare.
There are many benefits to opening a zero balance account with Canara Bank. First, you will not have to worry about maintaining a minimum balance. This can save you money on monthly fees. Second, you will have access to all of the same features and benefits as a regular savings account, including ATM and debit card facilities. Third, you will be able to take advantage of Canara Bank's online banking services.
Benefits of Canara Bank Zero Balance Account Opening Online
Benefits of opening a zero balance account with Canara Bank in bullet points:
- No minimum balance requirement. You don't have to worry about maintaining a minimum balance in your account, so you can save your money without having to worry about fees.
- Free ATM withdrawals. You can withdraw cash from ATMs of Canara Bank and other banks without any charges.
- Free online banking and mobile banking. You can manage your account online or through the Canara Bank mobile app, free of charge.
- Free SMS alerts. You can receive SMS alerts about your account activity, such as deposits, withdrawals, and balance updates.
- Easy to open and maintain. You can open a zero balance account online or at any Canara Bank branch. There is no complicated paperwork or procedures involved.
Additional benefits of opening a zero balance account with Canara Bank:
- Free debit card. You will be issued a free ATM-cum-debit card with your zero balance account.
- No penalty for inoperative accounts. Your account will not be closed or charged any fees if it remains inactive for a period of time.
- Nomination facility. You can nominate a person to receive the balance in your account in the event of your death.
Charges and Fees of Canara Bank Zero Balance Account Opening Online
- Account Opening Charges: There are no account opening charges for opening a Canara Bank Zero Balance Account Online.
- Minimum Balance Requirements: There is no minimum balance requirement for maintaining a Canara Bank Zero Balance Account Online. However, if you do not maintain an average monthly balance of Rs. 2000/- for Urban/Metro branches, Rs. 1000/- for Semi-Urban branches and Rs. 500/- for Rural branches, you will be charged a penalty of Rs. 60/- + GST per day.
- Other Charges:
- Cheque Book Charges: Canara Bank charges Rs. 25/- + GST per book for a pack of 10 leaves.
- ATM Card Charges: Canara Bank charges Rs. 100/- + GST for the first ATM card and Rs. 50/- + GST for subsequent ATM cards.
- Internet Banking Charges: Canara Bank charges Rs. 50/- + GST per year for internet banking.
- SMS Banking Charges: Canara Bank charges Rs. 25/- + GST per month for SMS banking.
How to Open Canara Bank Zero Balance Account Opening Online
To open a zero balance account with Canara Bank online, you will need to meet the following eligibility criteria:
- You must be a resident of India.
- You must be at least 18 years old.
- You must have a valid PAN card.
You will also need to provide the following documents:
- A copy of your PAN card.
- A copy of your address proof.
- A recent passport-sized photograph.
Canara Bank Zero Balance Account Opening Online Apply Process
Once you have gathered all of the required documents, you can follow these steps to open a zero balance account online:
- Go to the Canara Bank website.
- Click on the “Open an Account” tab.
- Select the “Zero Balance Account” option.
- Enter your personal details.
- Upload the required documents.
- Submit your application.
Once your account is opened, you will be able to access all the benefits of a regular savings account, including:
- A debit card
- Internet banking
- Mobile banking
- ATM withdrawals
- Passbook
Canara Bank Zero Balance Account Opening Online Video Process
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FAQs of Canara Bank Zero Balance Account Opening Online
Here are some frequently asked questions about zero balance accounts with Canara Bank:
What is the minimum balance requirement for a zero balance account?
There is no minimum balance requirement for a zero balance account with Canara Bank.
What are the interest rates on zero balance accounts?
The interest rates on zero balance accounts with Canara Bank are currently 3.5% per annum.
What are the ATM and debit card facilities available with a zero balance account?
Zero balance accounts with Canara Bank come with a free ATM card. You can also apply for a debit card, which will have a small annual fee.
Conclusion of Canara Bank Zero Balance Account Opening Online
Opening a zero balance account with Canara Bank is a great way to start building your financial future. With no minimum balance requirement and access to all of the same features and benefits as a regular savings account, a zero balance account is a convenient and affordable option for anyone who wants to start saving money.
I hope you found this article helpful. If you have any further questions, please feel free to comment below.
