Canara Bank Savings Account Schemes
Canara Bank, one of India’s leading public sector banks, offers a broad range of savings account schemes designed for different individuals—from salaried employees and students to homemakers and senior citizens.
Whether you want a basic savings account or a premium one with added perks, Canara Bank ensures there’s an option that suits your specific needs.
Why Choose Canara Bank for a Savings Account?
There are several reasons why Canara Bank stands out in the Indian banking space.
- Extensive branch and ATM network
- Competitive interest rates
- User-friendly digital banking
- Zero balance account options
- Dedicated schemes for women, seniors, and students
- Insurance and locker benefits in select accounts
In addition to these, the bank provides secure and convenient access through internet and mobile banking.
Canara Bank Savings Account Schemes (2025)
Let’s now explore each account in detail and help you decide which one fits best.
1. Savings Bank General Account
This is Canara Bank’s standard savings account, ideal for most individuals.
- Minimum Balance: ₹500 (rural), ₹1,000 (urban areas)
- Features:
- ATM/Debit card facility
- Daily interest calculation
- Internet and mobile banking
- Cheque book availability
Moreover, this account is suitable for day-to-day banking needs.
2. Canara Basic Savings Bank Deposit Account (BSBDA)
This zero-balance account supports the financial inclusion agenda.
- Minimum Balance: None
- Includes:
- Free ATM/debit card
- Up to 4 free withdrawals monthly
- Passbook facility
Therefore, it’s perfect for individuals looking for a no-frills account.
3. Canara Small Savings Bank Deposit Account
If you don’t have valid KYC documents right away, this account is an excellent temporary solution.
- Max Balance: ₹50,000
- Annual Credit Limit: ₹1,00,000
- Validity: 12 months (extendable after full KYC)
Furthermore, it ensures banking access for those in remote or informal sectors.
4. Canara Jeevandhara Account
Specifically created for senior citizens, this account combines ease with dignity.
- Minimum Balance: Zero
- Benefits:
- Free debit card
- Unlimited ATM usage at Canara ATMs
- 60 personalized cheque leaves annually
As a result, it provides convenience and peace of mind to retirees.
5. Canara Junior Savings Account
This account empowers children (10 years and above) to start managing money.
- Features:
- Limited-access debit card
- Parent/guardian supervision
- Conversion to regular account upon maturity
In fact, it encourages financial responsibility from an early age.
6. Canara Champ Deposit Scheme
This is another child-focused account, ideal for kids under 12 years.
- Opening Deposit: ₹100
- Penalty: None for balance shortfall
- Conversion: Becomes regular account at 18
Hence, it builds a habit of saving among children.
7. Canara Angel Account (For Women)
This account is exclusively designed to support women’s financial empowerment.
- Variants:
- Lavender (₹5,000)
- Rose (₹30,000)
- Orchid (₹1,00,000)
- Benefits:
- Free cancer care insurance
- Debit card
- Locker facility
Moreover, this account adds health protection to your financial savings.
8. Canara Payroll Package Savings Account
This zero-balance account is for salaried employees in eligible organizations.
- Eligibility: Minimum 25 employees in the organization
- Features:
- Salary credit
- Free debit card
- Online and mobile banking
In addition, employers can easily manage bulk salary disbursals.
9. Canara SB Power Plus
This premium savings account caters to high-net-worth individuals.
- Minimum Balance: ₹1,00,000 (quarterly)
- Perks:
- Platinum debit card
- Free locker facility
- 300 personalized cheque leaves annually
Consequently, it’s ideal for professionals and executives looking for enhanced banking privileges.
10. Canara NSIGSE Savings Bank Deposit Account
Launched under the government’s incentive scheme for girls’ education, this account promotes social welfare.
- Eligibility: SC/ST girl students enrolled in Class 9
- Minimum Balance: Zero
- Support: Government incentives credited directly
Therefore, it serves as a tool for financial literacy and empowerment in underprivileged communities.
Canara Bank Savings Account Interest Rates (2025)
Canara Bank offers interest on savings accounts based on the deposit amount:
- Up to ₹50 Lakhs: 2.90% per annum
- ₹50 Lakhs to ₹100 Crores: 4.00% per annum
Note: These rates are subject to change as per RBI regulations.
How to Open a Canara Bank Savings Account?
Opening a Canara Bank account is quick and easy. You can choose from three options:
- Online via Canara Bank website
- Mobile App (Canara ai1)
- Nearest Branch
Required Documents:
- Aadhaar Card
- PAN Card
- Proof of Address
- Passport-size photograph
Additionally, carrying original documents will speed up the verification process.
Final Thoughts
To conclude, Canara Bank offers an impressive lineup of savings accounts tailored to diverse customer segments. From children and students to professionals and retirees, there’s a scheme to suit everyone.
Therefore, before opening a savings account, assess your financial goals, income consistency, and service preferences.
Pro Tip: Opt for accounts that offer long-term benefits like insurance, investment integration, and digital convenience.
Frequently Asked Questions (FAQs)
It varies by account type. For general savings, it's ₹500 in rural and ₹1,000 in urban areas. Zero-balance accounts like BSBDA require no minimum balance.
Yes, schemes like the Basic Savings Bank Deposit Account (BSBDA) and Jeevandhara account allow zero balance with essential banking features.
Yes. You can open an account online through Canara Bank's official website or using the Canara ai1 mobile app.
Generally, you need Aadhaar card, PAN card, proof of address, and a passport-sized photo. Originals are required for in-person verification.
Interest rates vary. As of 2025, it’s 2.90% for balances up to ₹50 lakhs and 4.00% for balances between ₹50 lakhs and ₹100 crores.
The Canara Jeevandhara Account is specifically designed for senior citizens and comes with zero balance, free cheques, and other benefits.
Yes, the Canara Angel Account offers exclusive benefits like free cancer insurance and locker facilities tailored for women.
