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Online Canara Bank Savings Account Opening

Open Canara Bank Saving Account

Last Updated 26th Feb 2021

Interest Rate 3.25% - 3.75%
Minimum Balance Requirement Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches
Cash Withdrawal Limit --
ATM Transaction Charges --
Debit Card ATM cum Debit Card
Apply for Savings Account

Canara Bank Savings Account Opening

Canara Bank Savings accounts in Canara Bank can be opened online or offline. To open Canara Bank offline, you have to visit the branch, fill the application form and submit documents.

Steps for Opening Canara Bank Savings Account Online

To open the savings account online in Canara Bank, you have to follow these steps:

  • Step 1: First, visit the official website of Canara Bank.
  • Step 2: Go to Savings Account option and select the option ‘Apply Now’.
  • Step 3: Fill the required details like Name, Contact number, Date of Birth, Address etc. and click on ‘Submit’.
  • Step 4: Verify the details with the documents like PAN and Aadhar or any other document as required by the bank.
  • Step 5: Canara Bank’s executive will verify all the submitted documents.
  • Step 6: After the successful verification of your documents, Canara Bank will share the welcome-kit containing debit cum ATM Card, PIN and cheque book with you.
  • Step 7: Once the account is activated, you can register your mobile number and use a debit Card and cheque book for banking services.

Steps to Open Canara Bank Savings Account at Branch

To open a savings account with Canara Bank at a branch, you must follow these steps:

  • Make sure that you carry with you an identification proof (preferably your PAN Card), an address proof (preferably your Aadhaar card), and two passport size photographs.
  • After reaching the branch, ask the clerk that you want to open a savings account. The clerk will give you the application form.
  • Fill the savings account application form with required details and attach the photographs on the form where required.
  • After duly filling the form and signing it, submit the savings account application form along with necessary documents and required money (in case of minimum balance account) with the clerk.
  • Your account will be functioning within a week or so, and the bank will inform you about it through a call/SMS/email.

Eligibility of opening Savings Account in Canara Bank

You have to fulfil the following eligibility criteria to open a savings account in Canara Bank:

  • This account is for resident Indians.
  • Apart from individuals, joint account, blind people, illiterate people can also open a savings bank account.
  • In addition, Trusts, Government bodies, HUF, Non-Government bodies, Semi-Government bodies can also get a savings bank account.

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How can I open a savings account in Canara Bank?

You can open a savings account in Canara Bank either by applying online through the website or by visiting the branch nearby and submitting your application form there.

Can I open a savings account online in Canara Bank?

Yes, you can open a savings account online, by applying for it through the Canara Bank’s official website.

What is the minimum balance in Canara Bank?

The minimum balance required to open a savings account in Canara Bank is Rs. 1,000 for Metro, Urban and Semi Urban branches and Rs. 500 for Rural branches.

Canara Bank News - May 2021
  • 2019-10-18 : Canara Bank cuts down interest rates on savings accounts
    With effect from October 15, 2019, Canara bank revised interest rates on savings accounts by 25 basis points. The revised rate on savings for an outstanding balance of less than Rs 50 lakhs is 3.25%, and for an outstanding balance of Rs 50 lakhs and above, the interest revised is 3.75%.
  • 2019-01-29 : Canara Bank Q3 profit surges by 152% to Rs. 318 crore
    Canara Bank has reported a 152% increase in net profit for the quarter ended December 31, 2018 at Rs. 318 crore. The bank’s Net Interest Income is also expected to increase by 2.65% this year. In addition to this, the bank has also received a boost across its retail loans segment as well as CASA (Current Account Savings Account) deposits.
  • 2017-09-04 : Canara Bank cuts interest rate on savings bank account
    Public sector lender, Canara Bank has reduced interest rate on its savings bank account by 50 basis points to 3.5 per cent on deposits of up to Rs 50 lakh. However, the bank will continue to pay 4 per cent interest on deposits of above Rs. 50 lakh. The new rates are effective from 1st September, 2017.
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