Canara Premium Payroll Package Gold

The Canara Premium Payroll Package – Gold Account is designed for Salaries individuals with a monthly Gross Salary of Rs.50,000/- to Rs.1 lakh, (based on the salary slip). The account offers enhanced banking benefits, Insurance coverage and other exclusive privileges.

The Gold 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.

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

• Free Term Life Insurance: Rs 2.00 Lakh
• Free Personal Accidental Insurance: Up to Rs. 26 Lakh including coverage available through Can Care Policy* & Canara Rupay Platinum Debit Card
• Free Air Accidental Insurance up to Rs. 28 Lakh including coverage available through Can Care Policy* & Canara Rupay Platinum 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 ₹1 lakh, typically up to 2 months of net salary, subject to 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. Customer can avail free NEFT, RTGS, and IMPS transactions, making everyday banking seamless and cost-effective.

Yes. The Bank will issue a RuPay Platinum 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:

• 25% 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

• 5% concession on locker rent
• Unlimited free locker operations

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

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

No.

Yes. Account holders can avail a credit card with free issuance and 25% waiver on annual maintenance charges (AMC).

Yes, Bank may exclude the customer 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 general Savings account. In such cases, the customer may no longer be eligible for the benefits applicable to the premium payroll account, subject to the Banks applicable guidelines. For availing the benefits - Minimum one Salary Credit within six months prior to the date of accident, except for the accounts opened in last six months. (Insurance will be made available in 10 days from the date of account opening/conversion).

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

• Pan Card
• Aadhar Card
• Pass Book
• Death Certificate
• Written intimate regarding the demise of account holder.

• Where nomination details are available with the Bank:
  • The nominee registered in the Bank's record/passbook will be treated as the beneficiary
• Where no Nominee/Legal Heirs details are available with the Bank
  • In case of no nomination or the nominee pre-deceasing insured person, the legal heir of the insured is the beneficiary. A legal heir is required to submit a succession certificate or legal heir certificate issued by a competent court or authority, as applicable.

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 favor of one beneficiary, subject to submission of legal heir certificate and No Objection Certificate (NOC)/Consent form from other legal heirs, wherever required.

Yes, as per product guidelines, Nominee/Claimant has to open / maintain account with Canara Bank for getting insurance benefits of deceased customer.

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

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

Natural death, Suicide and death resulting from illness, disease or pregnancy-related caused 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 for claim:

• Term Life Insurance Claim form,
• Death Certificate,
• KYC documents of the Deceased – Pan and Aadhar,
• Last 3 Months Salary Slips and Last 6 months account statement of deceased
• Nominee KYC documents (PAN, Aadhar) and Canara Bank account statement/Pass Book copy.

In addition to the documents required for Term Life Insurance Claim, certain documents are to submitted depending on the circumstances - Personal Accidental Claim forms, Police Complaint Letter, FIR, Panchnama/ General Diary, Final Police Report, Treatment Papers/ Brought Dead Memo, Postmortem Report, Chemical analysis Report, etc.

If a claim is rejected by the insurance company and the claimant is not satisfied with the decision, the claimant may approach the insurance company's grievance redressal mechanism.

The claimant may thereafter approach the Insurance Regulatory and Development Authority of India (IRDAI) through the applicable grievance redressal process.

The Bank facilitates the insurance coverage but it not a party to the insurer's claim settlement decision and is not liable for an insurance claim rejected by the insurance company, subject to applicable arrangement and terms. Bank/Broker will not be party to any dispute arising out of claim settlement process at any stage. However, Branch may assist/help for Submission of the 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. Insurance company will settle the claim in Indian rupees as per the applicable sum insured to claimant/nominee's Canara Bank account, subject to submission of required documentation.

Customer to contact Branch along with above mentioned Documents and may directly intimate to Insurance Provider (Marsh) for FY 2026-27:

Claim Intimation following details to be provided

• 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 :