Founded in 1906, Canara Bank is recognized as one of the oldest banks in India. They have contributed much towards development and progress. And, they experienced a significant amount of growth. Canara Bank provides its consumers with seamless banking solutions. It has a big network of branches across India.
Apart from banking services, Canara Bank provides internet banking services to their valued consumers. Canara Bank makes banking much faster, secure, and effective. Continue reading the post to learn more about how to open an account online on one of India’s oldest public sector banks.
How to register for Canara Bank online account
The process for oping an account with Canara Bank is pretty straightforward. Interested people can register for a new savings account at the Bank without even visiting the local branch office. They can apply online. Either they can visit the web portal or download the ‘Diya’ app on their smartphone. Both the options require you to fill up an online application form to get things started. So, follow the right procedures as shown here.
- Download the ‘Diya’ app and install it on your smartphone.
- Or, you can click here to visit the portal on your computer.
- The main page of the web portal looks something like the image provided below.
- Select the first option as shown on the image. It means you are opening an account for the first time on Canara Bank.
- On the following page, it asks for your Aadhar Card number. Enter the detail on the space provided. Agree to the T&C, and click the ‘Verify’ option.
- The next step involves giving your accord to other conditions like the FATCA declaration. Indian residents have to select the option ‘I Agree’. Enter the OTP you just got on your phone.
- The system extracts all the information from your Aadhar Card. It includes name and address as well.
- If your correspondence address is different from the one provided on the Aadhar Card, you have the liberty to add another address while registering.
- While opening an account online on Canara Bank, consumers don’t have to provide details about their PAN Card. So, on the next step, you can proceed with or without your PAN Card details.
- Select the option ‘I don’t have a PAN Card’ or ‘I have a PAN Card’ accordingly. People who do not possess PAN Card must fill-up the Form 60. For that, they need to visit their nearest branch.
- Enter the details of your PAN Card and press verify to continue.
- Next, there are options for inserting your Voter Id number or Passport Number. You may opt-out of these details if you want to. Furthermore, add your income and profession.
- Next, you have to fill in other details. Add your mother’s name, father’s name, and nominee name. Select the state and branch.
- Add your email address and contact number to register for the account. You will get an OTP.
- Insert the OTP you have received and select the option ‘Open Account’.
- Your Canara Bank count is now open and functional. All the details regarding your bank account and the branch will be sent to you through SMS or email.
Canara Bank Diya and its features
Canara Bank Diya is an online portal that helps you to open a savings account with Canara Bank. Anyone can open an account with this amazing platform within a few minutes. All the procedures are paperless. You don’t even have to visit the bank to open a savings account.
In short, prompt service in opening a new account is one of the main features of Canara Bank Diya. Your savings account opens without hassles. People can open an account online by adding their Aadhar Card number. The system verifies by sending an OTP to the contact number of the Aadhar cardholder.
If the number matches, the new account opening procedure becomes fast. The new account is eKYC compliant where users can avail the banking facilities in an instant. Also, the PAN details further verify the authenticity of the person willing to open the account.
Canara Bank Online Account Opening
Different types of features such as debit cards, checkbooks, mobile banking, and internet banking are available to the users of Canara Bank. You can get to see the list of a variety of banking services while opening a bank account online. Individuals can even select the branch of their choice during the procedure.
Because you have opened a new account through the Diya online portal, it is treated as a normal savings account. And, you need to maintain a certain average balance in your account. The minimum balance is 1000 INR for people living in urban areas and 500 INR for people residing in rural and semi-urban areas.
Another interesting feature about this portal is that you can open an account even without a PAN Card. It makes it easy for some people who do not have the card. However, such consumers cannot transact more than 50,000 INR. And, they have to fill up FORM 60 and give it to the relevant branch.
Are there limitations on the newly opened account?
Because the newly formed account is eKYC compliant, it comes with a certain number of limitations. However, there are no limitations after the full KYC gets completed. You can visit the branch along with the KYC documents.
Consumers need to complete the KYC procedure within twelve months of opening the account with the Bank. The authorities may suspend the account if the KYC procedure isn’t completed. The highest amount a consumer can keep in the account before the KYC verification is 1 lakh INR. And, the credits must not exceed 2 lakhs INR for one year.
Canara Bank has a variety of fund transfer options such as IMPS, RTGS, NEFT, and so on. Fund transfers work efficiently even after the working hours. However, you need to keep a track of the latest information on different types of transactions from time to time. That way, you can stay updated.