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Rs 147.5 debited from your Canara Bank account? Know why Canara Bank deducted money from your saving account

Canara Bank offers its customers a host of debit cards -- Classic/Standard, Platinum, Business and other Select card. While the charge for Enrolment Fee and Activation/Membership Fee is NIL for the mentioned debit cards, the Annual Fee is different for each of them.

Rs 147.5 debited from your Canara Bank account? Know why Canara Bank deducted money from your saving account

New Delhi: Nearly all banks charge a certain amount of money as the yearly maintenance charge of debit cards. However, the fees for various account kinds vary as well. To put it another way, you won't pay the same amount for having a gold card as you would for having a platinum card.

Canara Bank offers its customers a host of debit cards -- Classic/Standard, Platinum, Business and other Select card. While the charge for Enrolment Fee and Activation/Membership Fee is NIL for the mentioned debit cards, the Annual Fee is different for each of them. (Also read: Rs 150 debited from your PNB account? Know why)

Charge Type Classic/Standard Platinum Business Select
Enrolment Fee NIL NIL NIL NIL
Activation/Membership Fee NIL NIL NIL NIL
Annual Fee Rs. 125/- Rs.250/- Rs. 300/- Rs.1,000/-
Hotlist/Duplicate card on account of loss of card Rs. 150/- Rs. 150/ Rs. 150/ Rs. 150/
Replacement card NIL Rs. 50/- Rs. 50/- Rs. 50/-
Debit card inactivity fee NIL NIL Rs.300/- NIL
First time Green Pin Generation Free Free Free Free
Regeneration of Green Pin Rs.50/- Rs.50/- Rs. 50/- Rs.50/-

Annual Fee for Classic/Standard is Rs 125, Platinum is Rs 350, Business is Rs 300 and other Select card is Rs 1,000. Users may however note that there is also an 18 percent GST on the service charges mentioned here. The bank will also collect the applicable taxes on the said service charge. 

Hence for your Canara Bank Classic/Standard debit card, yearly maintenance charge comes at Rs 125 + 18% GST (Rs 22.5) = Rs 147.5. So if you are a holder of Canara Bank Classic/Standard debit card, you will pay Rs 147.5 as the yearly maintenance charge of debit cards.