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.

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.