Canara Bank Savings Account – Interests Rates 2025, Features, Eligibility, Documents Required

Canara Bank offers a range of savings accounts to its customers such as senior citizens, minors, salaried class, etc. Accountholders can avail numerous state-of-the-art facilities such as netbanking, mobile banking, UPI transfers, etc. with these accounts. Canara Bank offers its account holders a minimum interest rate of 2.90% and a maximum of 4.00% on savings accounts. Let us find out variants of savings accounts offered by Canara Bank.

Canara Bank Savings Account Interest Rates 2025

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 8th January 2025.

Read more: Savings Account Interests Rates

Types of Canara Bank Savings Account

Savings Bank Account	Canara Basic Savings Bank Deposit Account
Canara Small Savings Bank Deposit Account	Canara NSIGSE 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

Features & Benefits of Canara Bank Savings Account

Savings Bank Account

Canara Bank Savings Account can be opened by all individuals willing to open a savings account with Canara Bank. The minimum account balance required to be maintained in this account is Rs. 500 for rural branches and Rs. 1,000 for semi-urban, urban, and metro branches.

• The nomination facility is available
• Facilities like ATM-cum-Debit card, Passbook, cheque collection, internet, and mobile banking are available

Canara Basic Savings Bank Deposit Account

This account is designed for individuals to provide them with a basic banking facility since it is a zero-balance savings account. Applicants of this account should not have any other operative accounts with the branch/bank.

• Maximum of 4 withdrawals allowed in a month, including ATM withdrawals
• No charge on deposit of cash at the bank’s branch and ATMs
• Free ATM-cum-debit card
• If withdrawals exceed per month, charges will be levied at the rate not exceeding Rs. 5 per withdrawal

Canara Small Savings Bank Deposit Account

This account is an attempt to get more people to become a part of the financial system. Individuals who do not have their complete identification and can provide all the documents for KYC can avail the facilities of this account. The account offers quite a few privileges for such individuals.

• The balance in the account should not exceed Rs. 50,000 in a year
• Total credit in a year should not exceed Rs. 1,00,000
• Internet and mobile banking services can only be availed if the bank allows
• The nomination facility is available
• The account holders shall not have any other account with Canara Bank to avail services of Canara Small Savings Bank Deposit Account

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.

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

Canara Jeevandhara-SB Account for Senior Citizens

Canara Jeevandhara Savings Bank Account caters to the needs of senior citizens who have attained the age of 60 years and above. The account comes with several benefits, the primary benefit being a zero-balance savings account. There is no minimum balance to be maintained with no maintenance charges.

• Free debit card
• ATM cash withdrawal is Rs. 25,000 per day
• ATM transactions are free and unlimited in all Canara Bank’s ATMs
• A personalised chequebook with 60 leaves per annum is free

Canara SB Power Plus

Canara SB Power Plus caters to the needs of the premier segment of the society. There is no opening balance required to opt for this account. The account can be opened as resident individuals, joint accounts, guardians on behalf of minors, associations, trusts, institutions, clubs, NRE, and NRO customers. The account comes with perks like:

• Free platinum debit card
• ATM cash withdrawal from Canara Bank ATM is Rs. 50,000
• ATM transactions are free and unlimited in Canara Bank’s ATMs
• Free personalised chequebook with 300 cheque leaves per annum
• Average quarterly balance to be maintained is Rs. 1,00,000

Canara Payroll Package Saving Bank Account

The account is specially designed for organizations having 25 employees or more. One-year-old organizations are eligible to avail services of Canara Payroll Package Saving Bank Account services. The benefits of the account are as follows:

• Platinum debit card
• Free personalised chequebook with 200 cheque leaves per annum
• Free locker rentals

Canara Junior Savings Account

Canara Junior Savings Account gives minors the freedom to handle their finances on their own. The account is targeted at minors who are above the age of 10 years. A personalised debit card is issued to minors in their own name with this account. The benefits offered by this account are:

• Total debit transactions in a month should not exceed Rs. 10,000
• Total credit should not exceed Rs. 1 lakh per annum
• The balance in the account should not exceed Rs. 50,000
• Once the child has attained maturity, the account can function without any restrictions
• The bank offers Education Loan Scheme for students

Eligibility Criteria for Canara Bank Savings Account

People wanting to open a savings account in Canara Bank need to fulfil the following eligibility criteria:

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

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

Documents Required for Canara Bank Savings Account

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

• Copy of PAN Card/Form 60 or 61 (If the customer does not have a PAN Card)
• 2 photographs of the customer
• Proof of identity & address as per KYC norms (Only the following documents will be accepted)

1. Passport
2. Driving License
3. PAN Card
4. Voter Identity Card issued by the Election Commission of India
5. Job card issued by NREGA duly signed by an officer of State Government
6. 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 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
Canara Jeevandhara-SB Account for Senior Citizens	Proof of age to be submitted along with KYC documents
Canara Junior Saving Account	Application form Declaration from the parent KYC documents Copy of student ID card or letter from the respective Educational Institute

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

Canara Bank Savings Account Fees and Charges

Fee Type	Amount
Additional Cheque Book charges	Rs. 4 per cheque leaf
Primary Card: Issuance Fee	NIL
Physical Statement and Duplicate Passbook Charges	Rs. 100 with the latest balance, additional Rs. 50 per page for previous entries
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
Cash Deposit	Up to Rs. 50,000 – Free Above Rs. 50,000 – Rs. 1 per Rs. 1,000
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
Card Replacement Fee	Rs. 300 (applicable for both primary and add-on cards)

How to Apply for Canara Bank Savings Account

To open a Canara Bank savings account, you need to visit the branch, fill up the application form and submit the documents.

Alternatively, you can download and take a printout of the Canara Bank savings account application form.

Once your application is approved, the bank will allot you a unique customer number along with the Canara Bank account number, welcome kit, Canara Bank ATM card, etc. You can now download the Canara Bank mobile banking app and start using mobile banking services along with Canara Bank net banking using your registered mobile number.

FAQs

Q. What is the mobile banking app for Canara Bank?
Ans. Canara bank has launched Canara ai1 mobile banking app with more than 250 features so that the customer can avail banking services online.

Q. What if I have a savings account in Canara Bank and I want to open another savings account in Canara Bank?
Ans.  You can open another savings account in Canara Bank, though. There are some savings accounts that do not allow you to have more than one savings account in Canara Bank. For an instance, if you want to open Canara Basic Savings Bank Deposit Account, you cannot have any other savings account in Canara Bank. Similarly, there are some other accounts too that do not let you have more than one savings account in the bank.

Q. What are the methods to transfer funds from Canara Bank savings account?
Ans. You can transfer funds through NEFT, RTGS, IMPS and UPI in Canara Bank.

Q. Can I use netbanking and mobile banking for Canara Bank savings account?
Ans. Yes, Canara Bank provides the facility of netbanking and mobile banking to all its customers.

Q. Which bank has been merged with Canara Bank?
Ans. Syndicate Bank has been merged with Canara Bank.

Q. Will my Syndicate Bank netbanking user ID and password work for Canara Bank netbanking?
Ans. You should get your details updated and get a fresh username and password issued so that you can avail online services uninterruptedly.

Note: The information on this page may not be updated. Kindly refer to the bank website to check the latest information.