Canara Bank SB Power Plus

Canara Bank SB Power Plus Scheme introduced by Canara Bank is clearly meant for the premier segment of customers. This scheme allows for opening SB Power Plus account as a joint account, an individual account, for organizations, trusts and for the NRO and NRE citizens, and by an individual (parent/Guardian) on behalf of minors.

For opening a joint account, the applicants must reside together. It comes with various deals and provides numerous banking options which can benefit the subscriber.

Canara Bank SB Power Plus Benefits and Features:

  • Canara Bank SB Power Plus account does not require a deposit amount when opening an account.
  • The account holder has to maintain the Average Quarterly Balance (AQB) of Rs 1, 00,000. If the account holder fails to do that, he/she will not be able enjoy all the great deals and rewards offered with this scheme.
  • The interest rate come with it is 4% per annum which is payable on a six-month basis.
  • The subscriber is provided with a customized ATM Debit Card on opening an account.
  • The subscriber can withdraw Rs 50,000 from Canara Bank ATMs in a single day.
  • With ATMs, internet banking and mobile banking, unlimited transactions are possible.
  • Canara Bank issues an e-Statement of customer's SB Power Plus account once every 15 days via email.
  • Customers can enjoy free online banking, mobile banking, SMS alerts, RTGS & NEFT fund transfers, cash remittance from any account to the subscriber's SB Power Plus account, and personalized chequebook with 300 leaves.
  • The subscribers with a trading account can open a Demat account for free.
  • The subscribers can use the Auto Sweep facility if he/she possesses a balance of Rs 1, 00,000 or in their SB Power Plus account.
  • The SB Power Plus account holder is provided with a credit card for which no maintenance charges are applied for the first year. Also, the subscriber can avail Rs 2, 00,000 to 8, 00,000 as a personal accident insurance which is only applicable in case of death only.