Canara Bank is one of the oldest public sector banks that was established in the year 1906 in Mangalore. Currently, their headquarters are situated in Bengaluru with over 6,000 branches and more than 10,500 ATMs all across India.
The Bank also has branches outside India, like London, Dubai, South Africa, Moscow, Hongkong and many more countries. The first overseas branch was located in 1983 in London.
Canara Bank sponsors two regional rural banks which are Kerala Gramin Bank and Pragati Krishna Gramin Bank.
The official website is https://www.canarabank.com
Contents
Products and Services by Canara Bank:
Some of the products and services offered by Canara Bank are :
- Home Loan
- Life Insurance
- Business Loan
- Accounts and Deposits
- Educational Loan
- NEFT
- RTGS
- IMPS
Canara Bank Time and Charges of NEFT/RTGS/IMPS :
NEFT:
National Electronic Funds Transfer ( NEFT ) is an electronic mode of payment. Canara Bank has different timings and charges than the other Banks.
The timings for NEFT is Monday to Saturday from 8 am to 6:45 pm, except for the second and the fourth Saturday which is a holiday.
The charges for the NEFT is :
For inward transactions – no charges
For outward transactions, there are the following charges:
Up to 10,000 rupees – charge is 2.50 rupees
From 10,001 to 1,00,000 rupees – charge is 5 rupees
From 1,00,000 to 2,00,000 rupees – charge is 15 rupees
For above 2,00,000 rupees – charge is 25 rupees
RTGS :
Real Time Gross Settlement (RTGS) is a payment method on a daily continuous basis. The timings fr RTGS is Monday to Saturday from 8 am to 4:30 pm, except for the 2nd and the 4th Saturday of the month.
The charge for the RTGS of the Canara Bank is:
For the amount less than 2 lakhs – there is no charge
For an amount of more than 2 lakh, the charges depend on the timings :
Service from 8 am to 11 am has no charge
Service from 11 am to 1 pm has a charge of 27 rupees
Service from 1 pm to 4:30 pm has a charge of 30 rupees
For an amount of more than 5 lakh, the charges based on the timings are :
Service from 8 am to 11 am has no charge
Service from 11 am to 1 pm has a charge of 52 rupees
Service from 1 pm to 4:30 pm has a charge of 55 rupees
IMPS :
Immediate Payment Service is an electronic payment that has no time limit and is available 24*7. It has a lot of benefits since there are no restrictions on time and is easily accessible 24*7.
The Charges for IMPS are :
- Up to 5,000 rupees – no charges
- From 5,001 to 25,000 – a charge of 5 rupees
- From 25,001 to 50,000 – a charge of 10 rupees.
These were the charges and timings for NEFT, RTGS and IMPS of the Canara Bank.