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Canara BankSavings account

Canara Champ Deposit Scheme

Canara Bank's savings scheme for children below 12, using a ₹100 opening amount, minimum half-yearly credit activity and automatic conversion to regular savings after majority.

First-party evidencePublished researchReviewed September 9, 2026Active
Open primary bank source ↗Bank dossierCompare alternatives
Balance / relationshipNo conventional minimum-balance penalty is stated; the scheme instead uses a small opening amount and minimum periodic credit activity.
Cost / chargesInitial deposit can start at ₹100. The bank requires at least two credits each half-year aggregating ₹500 in rural/semi-urban or ₹1,000 in urban/metro branches, and states no penalty for non-maintenance of minimum balance.
Limits / allowancesJoint accounts and cheque books are not permitted under the scheme; excess balance above ₹5,000 can be moved into a deposit in the minor's name under the published mechanics.
Ongoing relationship ruleEarly-childhood savings scheme; the current page does not document a named debit-card relationship.
Research processPublished by littleden.blog

Structured from first-party bank/issuer evidence. This page does not claim personal hands-on product use unless that experience is explicitly stated.

1 first-party source
Last checkedSeptember 9, 2026

Recorded source review date, not a claim that the product changed that day.

Maintenance stateWithin scheduled review window

Target recheck: January 7, 2027.

Critical decision facts

Start with the ongoing account relationship, then price the access layer.

Balance or salary conditions, charges, allowances and downgrade rules can matter more than a promotional benefit.

01 · Balance / relationshipNo conventional minimum-balance penalty is stated; the scheme instead uses a small opening amount and minimum periodic credit activity.
02 · Cost / chargesInitial deposit can start at ₹100. The bank requires at least two credits each half-year aggregating ₹500 in rural/semi-urban or ₹1,000 in urban/metro branches, and states no penalty for non-maintenance of minimum balance.
03 · Limits / allowancesJoint accounts and cheque books are not permitted under the scheme; excess balance above ₹5,000 can be moved into a deposit in the minor's name under the published mechanics.
04 · Ongoing relationship ruleEarly-childhood savings scheme; the current page does not document a named debit-card relationship.
Maintained terms

Fees, balances, benefits, limits and eligibility without a single-score shortcut.

These six fields are the cross-product layer. The specialist section above controls whenever a type-specific field is more precise.

Cost / chargesInitial deposit can start at ₹100. The bank requires at least two credits each half-year aggregating ₹500 in rural/semi-urban or ₹1,000 in urban/metro branches, and states no penalty for non-maintenance of minimum balance.
Balance / relationshipNo conventional minimum-balance penalty is stated; the scheme instead uses a small opening amount and minimum periodic credit activity.
Core benefitsFree collection of qualifying gift cheques/DDs up to ₹25,000, education-loan preference subject to transaction conduct, and automatic regular-savings conversion after majority.
Limits / allowancesJoint accounts and cheque books are not permitted under the scheme; excess balance above ₹5,000 can be moved into a deposit in the minor's name under the published mechanics.
EligibilityChildren up to age 12 (through 11 years and 364 days) under current Canara Champ terms.
Ongoing relationship ruleEarly-childhood savings scheme; the current page does not document a named debit-card relationship.
Fit & cautions

Who this record appears designed for—and what can break the fit.

Best-fit wording summarizes the published proposition. It is not individualized financial advice or an approval prediction.

Potential fit

Parents/guardians of younger children who want a simple bank savings habit product rather than child-operated digital/card access.

Verify before relying
  • Champ targets children below 12 and should not be compared as if it were a self-operated teen/student account.
  • The scheme requires periodic credits even though it has no minimum-balance penalty.
  • No cheque book is issued, and the page does not establish a named debit-card endpoint.
Maintained comparisons

Compare this product only where the pair is deliberately maintained.

Both sides keep independent review dates, exact conditions and first-party evidence. No winner score is generated.

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First-party source ledger

Complete evidence set for this maintained profile.

Each source remains independent. A product page, tariff, KFS/MITC, rate schedule or programme document is not silently treated as interchangeable evidence.

01
Primary product / service sourcewww.canarabank.bank.in
Open source ↗
Current-use rule

When the bank changes a term after the recorded review, the current agreement, tariff, KFS/MITC or effective rate table controls.

Research boundary

This page organizes dated public evidence; it does not guarantee eligibility, availability, approval, service quality or future pricing.