The Canara Premium Payroll Package – Diamond Account is designed for salaried individuals with a monthly Gross Salary of Rs. 1 Lakh to Rs. 1.50 Lakh (based on the salary slip). The account offers enhanced banking benefits, insurance coverage, and other exclusive privileges.

The Diamond Payroll Account offers a range of exclusive benefits and privileges like free insurance coverage, instant overdraft facility, concessional loan charges, free banking services, and premium debit card.

Account holders aged 18 to 65 years who receive regular salary credits are eligible for the following insurance benefits, subject to applicable terms and conditions:

• Free Term Life Insurance: Rs. 4.00 Lakh
• Free Personal Accidental Insurance: Up to Rs. 44 Lakh (including coverage under Can Care Policy* & Canara RuPay Select Debit Card)
• Free Air Accidental Insurance: Up to Rs. 38 Lakh (including coverage under Can Care Policy* & Canara RuPay Select Debit Card)

*Insurance from the Bank under Can Care Policy will be subject to change from time to time.

No. The account offers a zero-balance facility, making it easy to maintain without any minimum balance requirement.

Eligible customers can avail an Instant Overdraft facility of up to ₹2 lakh, typically up to 3 months of net salary, subject to the following eligibility criteria:

• At least 6 months of regular salary credits through Bank Transfer/NEFT/RTGS/PFMS
• Canara Budget Loan should not have been availed
• Credit Score should be higher than the threshold score

The overdraft facility is subject to the Bank's applicable terms, conditions, and eligibility criteria.

Yes. Customers can avail free NEFT, RTGS, and IMPS transactions, making everyday banking seamless and cost-effective.

Yes. The Bank will issue a RuPay Select Debit Card with zero issuance and annual charges, along with accident insurance benefits*.

*Debit Card benefits are subject to applicable terms and conditions.

• ATM Withdrawal: ₹1,00,000 per day
• POS Transactions: ₹5,00,000 per day
• Contactless Payments: ₹25,000 per day

Yes. Eligible account holders can avail the following loan-related benefits:

• 50% concession on processing charges for retail loans
• Access to personal loans at competitive interest rates, subject to eligibility criteria

Yes. Account holders can avail the following locker-related benefits:

• 10% concession on locker rent
• Unlimited free locker operations

Yes. Account holders can open zero-balance family accounts for their spouse and up to two children.

Yes. The account offers free SMS alerts and 200 free cheque leaves per year.

Yes. Account holders can avail the following lounge access benefits:

• Domestic Airport Lounge: Minimum Quarterly Spends of ₹5,000 (POS/ECOM in the present quarter) entitles 1 domestic airport lounge visit in the subsequent quarter
• International Lounge: 2 international lounge visits per year for self

Yes. Account holders can avail a credit card with free issuance and 50% waiver on annual maintenance charges (AMC).

Yes. The Bank may exclude customers below 18 years and above 65 years of age. Further, where no salary credit is received in the account for the preceding six months, the bank may convert the account to a general Savings Account, making the customer ineligible for premium payroll benefits.

For availing insurance benefits – minimum one salary credit within six months prior to the date of accident is required, except for accounts opened in the last six months. (Insurance will be made available within 10 days from the date of account opening/conversion.)

The claimant/nominee should approach the Bank Branch and submit the required documents, including:

• PAN Card
• Aadhaar Card
• Pass Book
• Death Certificate
• Written intimation regarding the demise of the account holder

• Where nomination details are available: The nominee registered in the Bank's records/passbook will be treated as the beneficiary.
• Where no Nominee/Legal Heir details are available: The legal heir of the insured is the beneficiary. A legal heir must submit a succession certificate or legal heir certificate issued by a competent court or authority.

Where multiple legal heirs are involved, the claim is settled in accordance with the applicable legal-heir documentation submitted. The claim may be settled in favour of one beneficiary, subject to submission of a legal heir certificate and No Objection Certificate (NOC)/Consent form from other legal heirs, wherever required.

Yes. As per product guidelines, the Nominee/Claimant must open/maintain an account with Canara Bank to receive insurance benefits of the deceased customer.

After receipt of the required documents, the Bank will intimate the claim to the insurance broker and provide claim forms to the claimant/nominee. After receiving the complete set of documents, the branch will submit them to the insurance company.

No. The Personal Accidental Insurance policy provides coverage for death resulting from accidents or accidental injuries only, subject to the applicable policy terms, conditions, and exclusions.

Natural death, suicide, and death resulting from illness, disease, or pregnancy-related causes are not covered under the Personal Accidental Insurance policy. Such circumstances may be covered under the applicable Term Life Insurance policy, subject to its terms and conditions.

No. Health Insurance cover is not available with the Premium Payroll product.

The following documents are required:

• Term Life Insurance Claim form
• Death Certificate
• KYC documents of the deceased – PAN and Aadhaar
• Last 3 months' salary slips and last 6 months' account statement of the deceased
• Nominee KYC documents (PAN, Aadhaar) and Canara Bank account statement/Pass Book copy

In addition to the documents required for a Term Life Insurance Claim, the following documents are required depending on the circumstances:

• Personal Accidental Claim forms
• Police Complaint Letter
• FIR
• Panchnama / General Diary
• Final Police Report
• Treatment Papers / Brought Dead Memo
• Post-mortem Report
• Chemical Analysis Report, etc.

If a claim is rejected and the claimant is not satisfied, the claimant may approach the insurance company's grievance redressal mechanism. Thereafter, the claimant may approach the Insurance Regulatory and Development Authority of India (IRDAI) through the applicable grievance redressal process.

The Bank facilitates insurance coverage but is not a party to the insurer's claim settlement decision and is not liable for a claim rejected by the insurance company. However, the Branch may assist in submission of documents.

• Term Life Insurance Claims: Documents should be submitted within 7 days from the date of claim intimation.
• Personal Accidental Insurance Claims: Documents should be submitted within 10 days from the date of claim intimation.

Exclusions refer to specified circumstances under which the insurer is not liable to pay benefits, as defined in the policy document.

The insurer is not liable for claims arising from exclusions specified in the policy document, including intentional self-injury, suicide, intoxication, criminal acts, war-related events, nuclear risks, pregnancy-related causes, and other standard exclusions.

Yes. PTD/PPD cover is available with Can Care Policy / NPCI Cover only. No additional cover is available for the Premium Payroll Product.

Yes. The policy coverage is applicable worldwide. The insurance company will settle the claim in Indian Rupees as per the applicable sum insured to the claimant/nominee's Canara Bank account, subject to submission of required documentation.

Customers should contact their Branch with the required documents and may also directly intimate the Insurance Provider (Marsh) for FY 2026–27.

Details required for claim intimation:

• Name of the deceased
• Date of Accident/Death
• Cause of Death
• Member ID (Customer ID)
• Date of Joining (DOJ) / Account Opening Date
• Date of Birth
• Nominee/Claimant Name
• Nominee/Claimant Contact Details

Term Life Insurance Claim:
Send email to Vinod.S01@marsh.com; ramu.m@marsh.com and Cc to shivani.sharma1@canarahsbclife.in

Personal Accidental Insurance Claim:
Send email to Vinod.S01@marsh.com; ramu.m@marsh.com and Cc to abhicl.groupeeclaims@adityabirlacapital.com