Canara Bank launches deposit scheme for children

Staff Reporter

KOZHIKODE: Canara Bank has launched the SB Can Champ Deposit Scheme exclusively for children up to 12 years in connection with Children's Day.

The objective is not only to inculcate the savings habit among children but also extend a hand of promise and support to the aspiring child/guardian in the pursuit of higher education, to equip him/her to face the challenges of the new world, a release from Canara Bank, Circle Office, Kozhikode, said.

The initial deposit under the scheme could be a nominal amount, with minimum of Rs.100.

The child is provided an attractive savings box and a personal photo folder-cum-memoir with 16 pouches to store photos, and record memorable moments.

The child after completion of Plus Two, will also be provided an educational loan eligibility card that will facilitate him/her in getting educational loan as per the then prevailing loan scheme of the bank, on a priority basis subject to certain conditions.

Canara Bank is coming up with a number of new products in the current financial year, including telebanking facility and certain value-added services through ATMs.

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