Industry

Canara Bank to offer only three free cash deposits of up to ₹50,000

A view of Canara Bank in Hudson Circle, Bengaluru. File photo.   | Photo Credit: K Gopinathan

Canara Bank customers can deposit cash for free only thrice a month and from the fourth transaction there will be a charge from July 1. Cash deposits of up to ₹50,000 are free for 3 transactions in a month, and then there will be a service charge of ₹1 per thousand, with a minimum of ₹50 and a maximum of ₹5,000-plus GST.

“Fourth transaction onwards: ₹1 per thousand or part thereof with a minimum of ₹50 and maximum of ₹5000 per transaction plus GST,” the State-run bank said in a notice with reference to charges for deposits up to ₹ 50,000.

Cash deposits up to ₹50,000 are free for Canara Bank customers now.

For cash deposits of over ₹50,000, the charge is ₹1 per thousand or part thereof with a minimum of ₹50 and maximum ₹5,000 per transaction plus GST.


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Printable version | Sep 12, 2021 9:01:02 PM | https://www.thehindu.com/business/Industry/canara-bank-to-offer-only-3-free-cash-deposits-of-up-to-50000/article28082639.ece

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