Canara Bank Savings Account 

Canara Bank has different types of savings accounts for various needs, like for seniors, kids, and working folks. With these accounts, you can use modern services like online banking and mobile transfers. The bank offers interest rates between 2.90% and 3.55%. Let's check out the different kinds of savings accounts at Canara Bank.

Account Balance Rate of Interest on Savings Account (p.a)
For an outstanding Balance of less than Rs. 50 Lakh 2.90%
For an outstanding Balance of Rs. 50 Lakh to less than Rs 5. Crore 2.90%
For an outstanding Balance of Rs. 5 Crore to less than Rs. 10 Crore 2.95%
For an outstanding Balance of Rs. 10 Crore to less than Rs. 100 Crore 3.05%
For an outstanding Balance of Rs. 100 Crore to less than Rs. 200 Crore 3.50%
For an outstanding Balance of Rs. 200 Crore to less than Rs. 300 Crore 3.10%
For an outstanding Balance of Rs. 300 Crore to less than Rs. 500 Crore 3.10%
For an outstanding Balance of Rs. 500 Crore to less than Rs. 1000 Crore 3.40%
For an outstanding Balance of Rs. 1000 Crore & less than Rs. 2000 Crore 3.55%
For an outstanding Balance of Rs. 2000 Crore & above 4.00%

Note: Interest rates updated as on 19th April 2024.

Savings Bank Account Canara Small Savings Bank Deposit Account
Canara Basic Savings Bank Deposit Account Canara Jeevandhara-SB Account for Senior Citizens
Canara SB Power Plus Canara Payroll Package Saving Bank Account
Canara Junior Saving Account Canara NSIGSE Savings Bank Deposit Account

Savings Bank Account

Anyone looking to open a savings account with Canara Bank can do so. You need to keep a minimum balance of Rs. 500 for rural branches and Rs. 1,000 for semi-urban, urban, and metro branches.

Here are some features:

  • The nomination facility is available
  • You get facilities like an ATM-cum-Debit card, Passbook, cheque collection, and access to internet and mobile banking.

Canara Small Savings Bank Deposit Account

This account aims to include more people in the financial system, especially those who may not have complete identification documents for KYC. Individuals with limited documentation can enjoy the benefits of this account, which offers several privileges.

Here are some key points:

  • The account balance should not exceed Rs. 50,000 in a year.
  • The total credit in a year should not exceed Rs. 1,00,000.
  • Internet and mobile banking services are available only if the bank allows.
  • You can nominate someone for the account.
  • Account holders should not have any other account with Canara Bank to use the services of Canara Small Savings Bank Deposit Account.

Canara Basic Savings Bank Deposit Account

This account is created for individuals to offer a simple banking option, as it is a zero-balance savings account. Those applying for this account shouldn't have any other active accounts with the branch or bank.

Here are some features:

  • You can make a maximum of 4 withdrawals in a month, including ATM withdrawals.
  • Depositing cash at the bank's branch and ATMs is free of charge.
  • You get a free ATM-cum-debit card.
  • If withdrawals exceed the monthly limit, charges will apply, not exceeding Rs. 5 per withdrawal.

Canara Jeevandhara-SB Account for Senior Citizens

The Canara Jeevandhara Savings Bank Account is designed for senior citizens aged 60 years and above. This account offers various benefits, with the main advantage being that it is a zero-balance savings account. There is no requirement to maintain a minimum balance, and no maintenance charges apply.

Here are some features:

  • Free debit card.
  • ATM cash withdrawal limit is Rs. 25,000 per day.
  • Unlimited and free ATM transactions at all Canara Bank ATMs.
  • A personalized chequebook with 60 leaves per year is provided for free.

Canara SB Power Plus

The Canara SB Power Plus is designed for the premier segment of society, offering exclusive benefits. No opening balance is required for this account, and it is available for resident individuals, joint accounts, guardians on behalf of minors, associations, trusts, institutions, clubs, as well as NRE and NRO customers.

Here are some features:

  • Free platinum debit card.
  • ATM cash withdrawal limit from Canara Bank ATMs is Rs. 50,000.
  • Unlimited and free ATM transactions at Canara Bank ATMs.
  • Free personalized chequebook with 300 cheque leaves per year.
  • The average quarterly balance to be maintained is Rs. 1,00,000.

Canara Payroll Package Saving Bank Account

This account is made for companies with 25 employees or more. Even if the company is only a year old, they can use the Canara Payroll Package Savings Bank Account.

Here are some benefits:

  • A special platinum debit card.
  • Get a personalized chequebook with 200 cheques for free.
  • Use a locker for free.

Canara Junior Savings Account

The Canara Junior Savings Account allows kids above 10 years to manage their money independently. Minors get a personalized debit card in their name with this account.

Here are some benefits:

  • Debit transactions per month should not go over Rs. 10,000.
  • The annual credit should not exceed Rs. 1 lakh.
  • The account balance should not go beyond Rs. 50,000.
  • Once the child reaches maturity, the account operates without any restrictions.
  • The bank provides an Education Loan Scheme for students.

Canara NSIGSE Savings Bank Deposit Account

The account has been introduced as per the directives laid out by the Ministry of Human Resources, Government of India, to promote education for girls and dropouts belonging to SC/ST communities in Secondary School. This scheme comes with several benefits.

Here are some features:

  • It is a zero-balance account, and there is no need to maintain a minimum balance.
  • Withdrawals are allowed mainly by withdrawal slips.
  • Married girls are excluded from the scheme.

To open a savings account in Canara Bank, individuals need to meet the following eligibility criteria:

Savings Account Type Eligibility Criteria
Savings Bank Account Individuals, Minor accounts, Joint accounts, HUF, Trusts, Illiterates, Executors and Administrators, Recognized PF Accounts, Govt. bodies, Semi-Government Departments, Capital Gain Accounts, Non-Corporate bodies i.e., Clubs, Societies, Associations, Schools, etc.
Canara Small Savings Bank Deposit Account An individual in his/her name
Canara Small Savings Bank Deposit Account An individual in his/her name
Canara Basic Savings Bank Deposit Account
  • Individuals in his/her name
  • Guardian on behalf of a minor
  • A customer shall not have any other savings account whilst opening this account

More than one individual jointly, operated by and/or payable to one or more of them

Canara Jeevandhara-SB Account for Senior Citizens Indian Senior Citizens who are of the age of 60 years and above
Canara SB Power Plus
  • Resident individuals
  • Joint accounts
  • Guardian on behalf of minors
  • Associations
  • Trusts and institutions
  • Clubs

NRE/NRO customers

Canara Payroll Package Savings Bank Account Employees of a firm having minimum 25 employees with the firm standing over one year
Canara Junior Saving Account Children above the age of 10
Canara NSIGSE Savings Bank Deposit Account
  • All girls who belong to SC/ST category and have passed class 8th

Girls who have passed class 8th examination from Kasturba Gandhi Balika Vidyalayas (irrespective of whether they belong to SC/ST category) and enrol for class 9th in State/UT Government, Government Aided or local body Schools in Academic year 2008-09 onwards

Note: The bank may implement additional eligibility criteria for different savings accounts.

To open a savings account with Canara Bank, the applicant needs to provide the following documents:

1. Copy of PAN Card/Form 60 or 61 (If the customer does not have a PAN Card)

2. 2 photographs of the customer

3. Proof of identity & address as per KYC norms (Only the following documents will be accepted):

  • Passport
  • Driving License
  • PAN Card
  • Voter Identity Card issued by the Election Commission of India
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address, and Aadhaar number)
Savings Account Type Eligibility Criteria
Canara Small Savings Bank Deposit
  • Self-attested photograph
  • Affixation of signature or thumb impression
Canara Junior Saving Account
  • Application form
  • Declaration from the parent
  • KYC documents
  • Copy of student ID card or letter from the respective Educational Institute
Canara Jeevandhara-SB Account for Senior Citizens
  • Proof of age to be submitted along with KYC documents
Canara NSIGSE Savings Bank Deposit Account
  • Copy of the student’s identity card with photo, date of birth, and authentication by the school authorities to be submitted
  • A declaration-cum-no objection letter by the natural guardian of the minor

Note: The bank may request the applicant to submit additional documents on a case-to-case basis.

Fee Type Amount
Additional Cheque Book charges Rs. 4 per cheque leaf
Primary Card: Issuance Fee NIL
Card Replacement Fee Rs. 300 (applicable for both primary and add-on cards)
Account Closure Rs. 200
Cash Withdrawal at Branches
  • Up to 5 in a month – no charges
  • Above 5 cash withdrawals – Rs. 100 per transaction + GST
Cash Withdrawal at ATMs Up to 5 transactions are free, thereafter Rs. 21 + GST will be charged on cash withdrawal
IMPS Fees
  • Up to Rs. 25,000 – NIL
  • Rs. 25,000 – Rs. 1,00,000 – Rs. 8
  • Rs. 1,00,000 – Rs. 5,00,000 – Rs. 15
Physical Statement and Duplicate Passbook Charges
  • Rs. 100 with the latest balance, additional Rs. 50 per page for previous entries
Cash Deposit
  • Up to Rs. 50,000 – Free

Above Rs. 50,000 – Rs. 1 per Rs. 1,000

1. What are the methods to transfer funds from Canara Bank savings account?

You can transfer funds through NEFT, RTGS, IMPS, and UPI in Canara Bank.

2. Can I use netbanking and mobile banking for Canara Bank savings account?

Yes, Canara Bank offers the convenience of both net banking and mobile banking services to all its customers.

3. Which bank has been merged with Canara Bank?

Syndicate Bank has been merged with Canara Bank.

4. What is the mobile banking app for Canara Bank?

Canara Bank has introduced the Canara ai1 mobile banking app, offering customers a wide range of over 250 features for convenient online banking services.

5. Will my Syndicate Bank netbanking user ID and password work for Canara Bank netbanking?

To ensure uninterrupted access to online services, please update your details and request a new username and password. This will help you continue using online services seamlessly.