Canara Bank doesn’t charge fees for cash deposits up to three times per month; beyond that, fees apply for amounts over ₹50,000
Is Canara Bank a government bank?
Yes, Canara Bank is a government-owned bank under the ownership of the Government of India
It got nationalized back in 1969—July 19 to be exact—along with 13 other major private banks. As a public sector bank, it operates under RBI’s rules and follows government policies. You can double-check its status on the bank’s website or by walking into any branch.
Is there a charge to deposit cash?
Canara Bank doesn’t charge fees for the first three cash deposits per month in a savings account
Hit your fourth deposit of the month, though, and fees kick in for anything over ₹50,000. Deposit ₹60,000 at that point and you’re looking at ₹60 (₹1 per ₹1,000 or part thereof) plus GST. Smaller deposits stay free, and some account types come with built-in waivers.
How many transactions are free in Canara Bank?
Canara Bank savings account holders get 5 free cash deposit transactions per month at non-metro ATMs and branches, and 3 free transactions at metro ATMs
Metro cities include Delhi, Kolkata, Chennai, Mumbai, Bengaluru, and Hyderabad. These freebies cover both deposits and withdrawals. Go over the limit and per-transaction fees apply, based on the deposit amount and location. The counter resets on the first day of every month.
What is cash handling charges in Canara Bank?
Canara Bank charges ₹100 for cash deposits up to ₹10,000; ₹8 per ₹1,000 or part thereof (minimum ₹100) for deposits between ₹10,000 and ₹1,000,000; and ₹8 per ₹1,000 (minimum ₹8,000, maximum ₹15,000) for deposits over ₹1,000,000
GST is added on top where applicable. Deposit ₹100,000 and you’re looking at ₹800 plus GST. The bank uses these charges to cover the costs of moving, counting, and securing all that cash. You’ll find the latest fee schedule on Canara Bank’s website or by asking at a branch.
Can I deposit 50000 cash in bank?
Yes, you can deposit ₹50,000 in cash without triggering a reporting requirement under Indian law
If you drop that ₹50,000 in a single transaction, though, Canara Bank may still charge cash-handling fees depending on your monthly free-limit and account type. Just so you know, banks report anything over ₹10 lakh in a single deposit to the Income Tax Department under Section 114B. Bring ID proof whenever you’re moving large sums.
Source: Income Tax Department of India
How can I avoid cash deposit fees?
You can avoid cash deposit fees at Canara Bank by staying within your free transaction limit and depositing amounts under ₹50,000 per transaction
If you’re depositing cash often, switch to digital tools like UPI, NEFT, or mobile banking—those methods don’t attract cash-handling fees at all. Heavy depositors should look at premium accounts such as Canara Jeevan Dhara or Canara Suraksha; they usually come with higher free-transaction limits. Timing your deposits to match your monthly allowance also helps.
Why do banks charge a cash deposit fee?
Banks charge cash deposit fees to cover the cost of handling, transporting, and securing physical currency
Counting, sorting, moving, insuring, and protecting cash isn’t cheap. Banks also deal with counterfeit notes and theft risks. Digital transfers are far cheaper for them to process, so cash deposits end up with a surcharge. These fees help keep branches and ATMs running. Use digital payments when you can, or pick an account that waives the charges.
Source: Reserve Bank of India
Is Canara bank is safe?
Yes, Canara Bank is considered safe for deposits and fixed deposits in particular
Every rupee up to ₹5 lakh is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), an RBI subsidiary. That means if the bank runs into trouble, your principal and interest (up to ₹5 lakh) are protected. Canara Bank is also owned by the Government of India, which adds another layer of trust. As of 2026, it posts a solid capital adequacy ratio and low non-performing assets.
Source: DICGC
Is Canara Bank better than SBI?
Canara Bank generally scores higher in customer service and loan processing speed, while SBI offers broader reach and digital infrastructure
In 2026, Canara Bank sits at 4.4 out of 5 on public review sites—slightly ahead of SBI’s 4.1. SBI, though, has over 22,000 branches and 70,000 ATMs, giving it far better rural coverage. Canara Bank tends to approve home loans faster and offers more personalized service. Pick whichever fits your needs: convenience or customer experience.
Sources: Canara Bank, SBI
Who is owner of SBI?
As of 2026, Dinesh Kumar Khara is the Chairman of the State Bank of India (SBI)
He’s been at the helm since October 2020 and leads India’s largest public sector bank, with assets crossing ₹50 lakh crore. SBI is 100 % owned by the Government of India, so it’s a public sector undertaking. The government appoints a central board that oversees the bank. His term is reviewed every year and capped by standard retirement rules.
Source: SBI Official Website
Does Canara Bank charges for debit card?
Canara Bank charges ₹200 as an annual fee for most debit cards; replacement cards cost ₹50
New cardholders often get the first year fee waived during promotional offers. Inactive cards don’t incur a fee unless the account terms say otherwise. Premium accounts like Canara Jeevan Dhara usually include a free debit card. Exact charges vary by card type and branch policy—always check your account agreement.
What is the minimum balance in Canara Bank saving account?
Canara Bank requires a minimum average monthly balance of ₹1,000 for savings accounts in metro, urban, and semi-urban branches, and ₹500 for rural branches
Miss that target and you’ll pay ₹75 per quarter (as of 2026). Students, pensioners, and certain senior citizens can open zero-minimum-balance accounts. Most regular savings accounts follow these rules. Check your balance through mobile banking or an ATM to dodge penalties.
Source: Canara Bank Savings Account Terms
Which bank does not charge ATM fees?
Citibank offers 65,000+ fee-free ATMs across India, with no out-of-network fees on many account types
Other strong contenders: Charles Schwab Bank (unlimited global ATM fee reimbursements), Alliant Credit Union (up to $20/month reimbursement), and private banks like HDFC and ICICI with wide free networks. Always verify the latest reimbursement rules—they can change without notice. Sticking to in-network ATMs is the easiest way to stay fee-free.
Do banks get suspicious of cash deposits?
Yes, banks monitor cash deposits for suspicious patterns even below ₹10,000, due to anti-money laundering (AML) regulations
Under the Prevention of Money Laundering Act (PMLA), 2002, banks must file a Suspicious Transaction Report (STR) if they spot odd behavior—like splitting a ₹20,000 deposit into two ₹9,000 chunks to avoid reporting. Consistent, regular deposits raise fewer eyebrows; sudden large sums often trigger questions. Bring supporting documents whenever you deposit big amounts.
Source: Ministry of Finance, India
Can I deposit 100k cash in the bank?
Yes, you can deposit ₹100,000 in cash, but Canara Bank may apply fees and the bank must report the transaction if it’s part of a suspicious pattern
There’s no legal cap on cash deposits, but anything over ₹10 lakh in a single transaction (or linked transactions) gets reported to tax authorities. Drop ₹100,000 in one go and you’ll likely pay a cash-handling fee of ₹800 plus GST if you’ve already used your free limit. Bring your PAN card and ID proof to avoid delays. Digital payments sidestep both fees and extra scrutiny.
Source: Income Tax Department of India
