Canara Bank’s Angel Savings Account is a specially designed product catering exclusively to women aged 18 to 69 years. Offered in three variants – Lavender, Rose, and Orchid, it provides a tiered set of benefits based on the Quarterly Average Balance (QAB) maintained, ranging from ₹5,000 to ₹1,00,000.
Variants & Balances
Lavender: Entry-level with QAB of ₹5,000
Rose: Mid-tier with QAB of ₹30,000
Orchid: Premium with QAB of ₹1,00,000
This structure allows flexibility for women from various economic backgrounds to access premium banking services.
ATM and Debit Card Benefits
All variants come with RuPay Platinum Debit Card (Orchid variant offers RuPay Women Platinum Card), offering:
Free issuance and annual maintenance
High ATM withdrawal limits of ₹1,00,000/day and POS limits of ₹5,00,000/day
Free ATM usage at Canara Bank ATMs and other ATMs (with standard monthly limits)
Insurance & Protection Benefits
Cancer Care Insurance: Up to ₹10 lakhs (Orchid)
Personal Accident Insurance: Up to ₹26 lakhs (including card-based coverage)
Air Accident Insurance: Up to ₹8 lakhs for account holder and ₹4 lakhs for spouse
These are significant value additions for working women and homemakers alike.
Transaction Benefits & Free Services
NEFT/RTGS/IMPS: Completely free across all variants
SMS Alerts: No charges
Personalized Chequebooks: From 25 to 200 free leaves per year
Locker Benefits: Unlimited access and discounts on locker rent (up to 15% in Orchid)
Exclusive Offers & Family Benefits
Platinum Card Benefits: Offers worth up to ₹4,000 from Amazon, Myntra, Swiggy, Blinkit, etc.
Free health checkups (card-based)
Family Banking: Complimentary zero-balance accounts for up to 3 family members
Education Loan Processing Fee Waiver for the customer and her daughter(s)
Our Verdict
The Canara Angel Savings Account is a thoughtfully curated women-centric banking product, offering a blend of financial empowerment, health coverage, family support, and digital benefits. The Orchid variant, although demanding a higher QAB, justifies its premium with extensive insurance, locker, and lifestyle benefits. Lavender and Rose are great entry options, especially for younger or first-time women account holders.
⭐ Rating: ★★★★☆ (4.5/5)
Pros:
High insurance coverage
Premium debit card benefits
Multiple free services
Family-friendly features
Cons:
Orchid variant requires high QAB (₹1 lakh)
Some benefits are card-based and not automatic
Recommended For:
Working professionals, entrepreneurs, homemakers with moderate to high savings, and families looking for a centralised, benefit-rich account for women
