Canara Bank Savings Account

Canara Bank offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Benefits of Canara Bank saving Account are as follow:

• Canara Bank offers an interest rate on saving account in the range of 2.90% to 2.90%.
• Balance requirement for Canara Bank savings account is Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches.
• An individual can transfer the Canara Bank savings account to any other branch without changing the account number.
• Safe deposits locker facility, nomination facility is also available.
• Canara Bank savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
• It provides various kinds of debit cards as per account holder’s convenience.
• Canara Bank offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
• No charge is levied for passbook service.

Product	Minimum balance	Interest Rate	Non Balance Maintenance Charges
Savings Bank Account	Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches	2.90% - 2.90%	--
Canara Basic Savings Bank Deposit Account	NIL	2.90% - 2.90%	--
Canara Small Savings Bank Deposit Account		2.90% - 2.90%	--
Canara NSIGSE Savings Bank Deposit Account		2.90% - 2.90%	--
Canara Jeevandhara		2.90% - 2.90%	--
Canara SB Power Plus	Rs. 1,00,000 QAB	2.90% - 2.90%	--
Canara Payroll Package Saving Bank Account	Rs. 1,000	2.90% - 2.90%	Rs. 100 per annum
Canara Junior Saving Account		2.90% - 2.90%	--

Canara Bank offers multiple savings account products for different purposes. Some of the popular products of Canara Bank savings are:

Canara Small Savings Bank Deposit Account

This account can be opened by submitting a self attested photograph and affixation of signature or thumb impression as the case may be, on the form for opening the account.

Key Features:

• Account can be opened by submitting a self attested photograph and affixation of signature or thumb impression as the case may be, on the form for opening the account

Eligibility:

• This account is for resident Indians of 18 years of age and above

Canara NSIGSE Savings Bank Deposit Account

This account is designed to reduce school dropouts and to promote the enrolment of girl child belonging to SC/ST communities in Secondary Schools.

Key Features:

• No charge will be levied for non operation/ activation of inoperative Bank Deposit account
• The services available in the account will include deposit and withdrawal of cash at bank branches, receipt/credit of money through Electronic payment channels or by means of deposit/ collection of cheques, etc.
• Balance in the account not to exceed Rs. 50,000
• No charge will be levied for non operation of NSIGSE Savings Bank Deposit account
• The services available in the account will include deposit and withdrawal of cash at Bank branches, receipt/credit of money through Electronic payment channels or by means of deposit/ collection of cheques, etc.
• No cheque book is to be issued till the student attains majority

Eligibility:

• All SC/ST girls who pass class VIII and Girls who pass class VIII Examination from Kasturba Gandhi Balika Vidyalayas are eligible to open this account

Canara Bank asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. Canara Bank savings account provides the nomination facility in all the savings products.

Canara Bank provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Individuals can call Canara Bank’s 24X7 helpline number 1800-425-0018, which is accessible from all landlines and mobile phones in the country.

✅Can I open Canara Bank bank account online?

Canara Bank enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

✅What is the minimum balance for an Canara Bank savings account?

Minimum balance requirement differs with Canara Bank saving account products. The minimum balance required to open a Savings Bank Account in Canara Bank is Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches.

✅Which saving account is best in Canara Bank?

There are various savings account products offered by Canara Bank. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

✅Can I open Canara Bank account with zero balance?

The minimum balance requirement to open a savings account with Canara Bank is Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.