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Canara Bank Unveils 'CANARA TruEdge' – New Savings and Current Account Offering.

Banking & Finance | Dated: 17 May 2025

In May 2025, Bengaluru, Karnataka-based Canara Bank, a prominent Public Sector Bank (PSB), introduced ‘CANARA TruEdge’, a distinctive and feature-packed suite of Savings and Current Account products.

🎯 Key Highlights:

  • - This offering is tailored to meet the specific banking needs of institutional clients across India, including sectors such as healthcare, education, religious institutions, and other non-individual entities.

💡 Other Important Facts:

  • (i) The account suite comes with zero initial deposit for hassle-free onboarding. Customers maintaining higher balances will be eligible for proportionally enhanced benefits.
  • (ii) In a parallel development, Union Bank of India (UBI), a Mumbai, Maharashtra-based PSB, rolled out ‘Union Wellness Deposit’, an innovative retail term deposit scheme, in Mumbai.
  • (iii) The scheme features a fixed tenure of 375 days and provides an interest rate of 6.75% per annum, with an additional 0.50% interest for senior citizens.

📚 Test Your Knowledge:

Recently, which public sector bank launched the 'CANARA TruEdge' account suite?

Correct Answer: Canara Bank

🚀 Quick Recap:

About Union Bank of India (UBI)

  • MD & CEO : A. Manimekhalai
  • Headquarters : Mumbai