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Canara Bank Savings Account

Updated on June 10, 2024 , 41756 views

Headquartered at Bangalore, Canara Bank is one of the oldest public sector banks in India established in 1906. The bank offers many types of savings accounts that cater to your needs and demands. The savings accounts intend to cater basic banking facilities.

Canara Bank Savings Account

Right from the worldwide ATM Facility, net banking, joint account, nomination, passbook for senior citizen account, the bank offers a wide facility under Canara Bank Savings Account.

Types of Canara Bank Savings Account

Canara Champ Deposit Scheme

Canara Champ Deposit Scheme is a good way to cultivate the habit of savings among children. The scheme is meant for children up to 12 years of age. To open this account, you need to make an initial deposit of Rs.100. The best part is the bank won't charge any penalty in case of non-maintenance of minimum balance. Once the child reaches 18 years of age, the account will be converted to a normal savings account. As a special offer, the bank provides an educational loan.

Canara Small Savings Bank Deposit Account

This Canara Bank Savings Account is designed for the common man who is unable to provide full KYC documents. To open this account, you should take the prescribed form at the bank branch. You need to submit a self-attested photograph and affixation of signature or thumb Impression as the case may be, on the account opening form.

The account provides internet and mobile banking facility. Balance in the account should not Rs. 50,000 and total credit in one year should go beyond Rs. 1,00,000. Also, the aggregate of all withdrawals and transfers in a month should not exceed Rs. 10,000.

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Canara Jeevandhara SB Account For Senior Citizens

The SB account is meant for senior citizens of India. The initial balance requirement is NIL as compared to other accounts. The bank also offers a Debit Card on this account.

Some of the key factors of Canara Jeevandhara SB Account For Senior Citizens are as follows-

Canara Jeevandhara SB Account For Senior Citizens Key Features
Debit Card Free(with senior citizen name /photo)
ATM cash Withdrawal Rs.25000 per day
ATM Transactions Free Unlimited at Canara ATMs
SMS Alerts Free
Inter Bank Mobile Payment system Free
Net Banking Free
NEFT / RTGS 2 remittances free per month
Personalised Cheque Books Name printed up to 60 leaves per annum free

Canara SB Power Plus

This savings account is targeted towards the premier segment of customers. Resident Individuals, Joint Accounts, Guardian on behalf of Minors, Associations, Trusts & Institutions, Clubs, NRE & NRO customers are eligible to open Canara SB Power Plus account. The account doesn't have any initial balance requirement, however, you need to maintain Rs. 1 lakh average quarterly balance.

Canara SB Power Plus provides a free Platinum Debit Card with photo. The bank allows free unlimited cash withdrawal from Canara Bank ATM.

Canara Payroll Package Saving Bank Account

This is a salary account, which focuses on small firms, organisations having a minimum of 25 employees. The account offers various value-added features like a free Platinum Debit Card with photo, hassle-free banking services like SMS alerts, interbank mobile payment system, net banking, NEFT / RTGS, etc.

The account offers personal accident insurance (Death Only) of up to Rs.2.00 lacs to Rs.8.00 lacs for self/spouse as an inbuilt facility to Platinum Debit Card/Credit Card.

Regular Savings Bank Account

Regular Savings Bank Account caters to the financial needs of the masses. The average monthly balance requirement across the metro, urban and semi-urban locations is Rs. 1,000. The account offers some of the value-added services like ATM-cum-Debit Card, passbook, internet & mobile banking facility, nomination, standing instructions, cheque collection, instant credit of outstation cheque up to Rs.15, 000, etc.

SB Gold Saving Account

To open this Canara Bank Savings Account, you need to make an the initial deposit of Rs. 50,000. While operating SB Gold Saving Account, you need to maintain a minimum average balance of Rs. 50,000. You can enjoy a free banking (AWB) facility and also get a personalized cheque book under this account.

Some of the features offered under this account are - name printed cheque book, free funds transfer facility through internet banking, free telebanking facility, etc.

Canara NSIGSE Savings Bank Deposit Account

This account is meant for the girl students, especially from SC/ST caste. The account focuses on reducing the school drop outs and encourage the enrolment of a girl child. Canara NSIGSE Savings Bank Deposit Account is specially designed as per the recommendation of the Ministry of Human Resources Development, Government of India. The account holder can deposit and withdraw cash at bank branches.

Canara NSIGSE Savings Bank Deposit Account will not be considered as inoperative even if the account is not operated for more than two years. The account is essentially a zero balance account and there is no requirement of the initial deposit.

How to Open Canara Bank Savings Account?

To open a saving account at Canara Bank, you need to visit the nearest Canara Bank branch along with original and copies of KYC documents. The representative will give you the respective savings account form. Fill the application form by entering all the required details and attach the photocopy of all the mentioned documents.

Submit the form and the documents at the counter. The executive of the bank will verify all the details. After successful verification of documents and approval, your account will be activated and you will receive a welcome kit.

Eligibility Criteria to Open a Savings Bank Account in Canara Bank

Customers should meet the following criteria to open a savings account with the bank-

  • The person should be a citizen of India.
  • The individual should be above 18 years of age, except in case of a minor savings account.
  • The customers need to submit valid identity and address proof to the bank.
  • Once the bank approves the submitted documents, the applicant will have to make an initial deposit depending upon the type of the savings account.

Canara Bank Customer Care

For any queries or doubt, you can Call Canara bank’s toll-free number 1800 425 0018


With various types of saving accounts, Canara bank satisfies the needs and requirements of the customer.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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