Canara Jeevandhara - Savings account for senior citizens

Canara Jeevandhara introduced by Canara Bank is an attempt to cater the needs of the senior citizens of the country. This scheme also offers great values for common people as well as the underprivileged society of the country. The primary benefits are offered to the people who are above the age of 60 years with the facility of zero-balance savings account.

Canara Jeevandhara features:

No need of minimum monthly average balance. The subscriber will be provided with a customized ATM Debit Card with no limit set for transactions and can withdraw Rs 25,000 daily.
The interest rate is calculated at 4% per annum for deposits which is payable on a six-month basis.
After opening of Canara Jeevandhara account, the subscriber will be provided with passbook to keep their bank account activities updated.
Canara Jeevandhara comes with the options like free internet banking, mobile banking, get SMS alerts on withdrawals and transactions made from the account, a personalized chequebook with 60 leaves and two free RTGS & NEFT transfers per month.

Canara Jeevandhara benefits:

The subscribers are provided with the benefit of floater policy.
An account holder can get up to 15% off on medical bills and another 20% discount can be availed for medical diagnosis (reimbursement for bills between Rs 1000 and Rs 2000).
Free e-donations facility via net banking is provided with this account.
Under the rules set by RBI on reverse mortgage products, Canara Jeevandhara subscribers can also avail loan facilities.
The locker facility (based on its availability) is provided for the pension account holders.
Account holders who maintain an average balance (yearly) of Rs 2 Lakhs will get up to 50% off on locker rentals while others will get a 25% off on the same.
Personal accident insurance coverage of Rs 2, 00,000 (after death) is made available for the pension account holders and for claiming the coverage, one has to request a month prior.
Those who don't possess any pension account but maintain a minimum average balance of Rs 20,000 in their Canara Bank account can also claim for personal accidental insurance coverage of Rs 2, 00,000 with request for the same made a month beforehand.