• Canara
  • SB Power Plus

Canara SB Power Plus

  • Designed to cater to needs of premier segment of customers who would maintain a quarterly average balance of Rs.1 lac and above.
  • Debit Card – Free issuance of Platinum Debit Card with photo.
  • Credit Card - First year free of charge.
  • Name printed cheque leaves - Free up to 300 Cheque Leaves per annum.
  • DD Charges- Charges fully waived.
  • Statement of Account through e-mail - Once in 15 days through email.
  • RTGS/NEFT Charges – Free.
  • Net Banking - Free.
  • SMS Alerts - Available.
  • Standing Instruction – Free.
  • Auto sweep / Reverse Sweep – Available.
  • Cash Remittance / Deposits: Intra/ Inter City – at Base and Non-Base branches – Free.
  • Account can be opened with zero balance.
  • Demat – Available with trading account.
  • Application as per Bank’s prescribed form.
  • Two recent passport size photographs.
  • Proof of Identity and Proof of Address as per KYC norms.
  • Any other documents required by Bank.
  • All other terms other than above are as per extant guidelines applicable to Saving Bank Deposit Product.
  • Account closed before One year - Rs.1000 penalty + service charges.
1. Who is the Canara SB Power Plus Account designed for?

Canara SB Power Plus is a premium savings account designed for customers who maintain a quarterly average balance of ₹1 lakh or more and want enhanced banking benefits and services.

2. What are the benefits of the Canara SB Power Plus Account?

The account offers benefits such as a free Platinum Debit Card, free RTGS/NEFT, free Demand Drafts, free Net Banking, name-printed cheque leaves, standing instructions, and auto sweep/reverse sweep facilities.

3. Is the Canara SB Power Plus Account a zero-balance account?

The account can be opened with zero balance. However, it is designed for customers who maintain a quarterly average balance of ₹1 lakh or more, as per the applicable terms.

4. Do I get a free debit card with this savings account?

Yes. Account holders receive a Platinum Debit Card with photo, with free issuance.

5. Are NEFT and RTGS transactions free?

Yes. NEFT and RTGS charges are waived under the Canara SB Power Plus Account, subject to applicable terms and guidelines.

6. How many free cheque leaves are available?

You can get up to 300 name-printed cheque leaves per year free of charge.

7. Does the account offer an auto sweep facility?

Yes. The account provides Auto Sweep and Reverse Sweep facilities to help manage surplus funds and maintain liquidity.

8. Can I use Net Banking with the SB Power Plus Account?

Yes. Net Banking is available free of charge, allowing you to manage your account and carry out banking transactions online.

9. Does Canara SB Power Plus offer a Demat account facility?

Yes. A Demat account with a trading account is available, allowing eligible customers to manage their investments alongside their banking needs.

10. Are Demand Draft charges waived under this account?

Yes. Demand Draft charges are fully waived, subject to the applicable terms and conditions.

11. Are cash deposits and remittances free with this account?

Yes. Cash remittance and deposits are free at base and non-base branches, subject to applicable bank guidelines.

12. What documents are required to open this savings account?

You need a completed application form, two recent passport-size photographs, and valid identity and address proof as per KYC norms. The bank may request additional documents where required.

13. Is there a penalty for closing the account within one year?

Yes. If the account is closed before completing one year, a penalty of ₹1,000 plus applicable service charges may apply.

14. Why should I choose the Canara SB Power Plus Account?

It combines the convenience of a premium savings account with benefits such as free digital banking, a Platinum Debit Card, free cheque leaves and Demand Drafts, auto sweep facility, and Demat access, making it suitable for customers seeking enhanced banking services.