Canara Bank is the 2nd largest private sector bank in India, with more than 2000 branches and 8000 ATMs spread across the country. Canara Bank offers various banking products, including the Canara Bank Zero Balance Account that comes without any minimum balance requirement. Canara Bank Zero Balance Account can be opened by filling up an application form available at Canara Bank Branch or online.
What is a zero balance account?
A zero balance account is easy to open without any minimum deposit requirement by the customer. Hence it’s called a no minimum balance required savings bank accounts. This type of banking account can help people who do not have enough money to open full-fledged savings accounts, like expenses related to education or marriage. It has other benefits too, which are mentioned below:
What are the advantages of the Canara Bank Zero Balance Savings Account?
Canara Bank Zero Balance Savings Account has no minimum balance requirement. Hence it’s easy for people who do not have enough money to maintain a savings account.
It also offers other benefits like a free checkbook facility and ATM card with the PIN. The Canara bank zero balance savings accounts are available only through an application form that can be filled up at the Canara bank branch or online by following simple steps mentioned on the Canara bank website.
YES BANK-BankBazaar FinBooster card video review
Benefits of opening a zero balance account with Canara Bank
1. No Minimum balance requirement
No Minimum Balance Requirement Canara bank offers instant access to funds and an easy cash withdrawal facility as there is no minimum required deposit amount for the customer to maintain in their saving accounts. The customers can withdraw any time they want without worrying about maintaining a certain monthly average balance (MAB).
2. Free Debit Card
Canara Bank also provides a free debit card for use at all ATMs across India under the Canara bank ATM Alliance Network. Customers enjoy hassle-free transfer transactions via NEFT/RTGS internet banking and mobile app.
3. Cash Withdrawal and Deposit Facility
Canara Bank Zero Balance Account account holders can withdraw and deposit cash at Canara Bank branches as well as Canara bank ATMs. There is no maximum limit on the amount of money deposited either in banks or Canara Bank ATMs.
4. Easy Online Payment
Canara Bank allows its account holders to transfer funds through Canara bank net banking. Canara Bank also provides the facility of Canara Netbanking for viewing the latest transactions and balance details on Canarabank.com.
Customers can pay utility bills, make car payments, or book ticket payments via Canarabank net-banking service.
5. No Charges even if the Account is inactive
Even if the Canara bank zero balance savings account is inactive for six months, customers are not charged any penalty fee. Canara Bank also waives the charges on online transactions done at the Canara bank net banking website or mobile app. This facility makes Canara Bank Zero Balance Savings Account an attractive choice among other types of savings accounts.
Here’s how you can open a zero balance account with Canara Bank?
Canara bank’s zero balance account is simple and easy to open. A savings account can be opened by filling an application form available at Canara Bank Branch or online. Canara bank offers instant access to funds and an easy cash withdrawal facility as there is no minimum required deposit amount for the customer to maintain in their saving accounts.
- You can open Canara Bank Zero Balance Savings Account either by filling up the Canara bank zero balance savings account application form or downloading it from Canarabank.com
- Visit a Canara Bank branch near you to submit your duly filled-in application
- With two recent passport photographs and proof of identity, address, and one more utility bill for KYC.
Canara Bank online account opening the app.
Diya is a great app to open a Canara Bank savings account. Canara Bank offers an instant approval of the Canara Zero Balance Savings Account. It will provide you with simple, secure, convenient banking access where ever you are across India! You can download the Canara Diya app by clicking on Play Store or App Store.
Suppose you’re looking for a personal savings account that doesn’t charge fees and has no minimum balance requirement. In that case, the Canara Bank Zero Balance Account could be perfect. This bank account is designed to help individuals without access to formal banking open an account with basic features like free debit card transactions, cash withdrawal, and deposit facilities at ATMs or branches across India. You can set up your ATM card in just minutes by filling out this form!