Canara Bank Savings Account

• The Canara Bank primary Savings Deposit Account has the major advantage of being a zero-balance savings account. There is no minimum balance requirement with this account - as there is with most savings accounts, and there are no maintenance fees.
• When you open an account, you will receive a free debit card.
• When opening an account with Canara Bank Basic Savings Deposit Account, the customer is given a passbook.
• The bank's minimum deposit and withdrawal limit is Rs.10. The minimum withdrawal limit from ATMs is Rs.100.
• Clients can utilize online banking to move funds from one branch to another anywhere in the country.
• Clients with a Canara Bank Basic Savings Deposit Account may designate a member of their family.
• Customers can use the online banking service to conduct transactions, transfer funds, purchase online, and so on without incurring any fees.
• A customer is permitted four free withdrawals each month from other bank ATMs. When a customer's withdrawal limit is reached, a service charge of Rs.5 is applied to each transaction.
• There are no penalties for inactive accounts.

Here is the Canara Bank saving account online opening procedure.

Step 1: Submit personal information to start a new savings account and select a branch from which to operate.

Step 2: There is an option to upload scanned copies of the relevant documents.

SMS will deliver a URN (Unique reference number).

Step 3: You must authenticate your mobile number and email address.

Step 4: Take a printout of the application form, or have the bank employees do it for you.

Step 5: Bring the original documents to the branch.

Step 6: Deposit a minimum balance of Rs. 1000.

Your account will be opened, and you will be given a welcome packet containing all of the necessary bank and account information.

Mentioned below is the eligibility criteria to opt for the saving account from Canara Bank-

• A Canara Bank Basic Savings Deposit Account is open to any individual who is a resident of India.
• In the case of joint accounts, no more than four accounts can be combined.
• Clients who want to open a Canara Bank Basic Savings Deposit Account must not have any other savings accounts. If they have another savings account, the bank will close it right away.
• Minors who want to open a Canara Bank Basic Savings Deposit Account must have their parents or guardians open the account on their behalf. All that is required to open the account is the minor's birth certificate. The account will be in the minor's name.

• Proof of identity and address (passport, voter's ID, driving license, Aadhar card, NREGA card, PAN card).
• Two passport-sized photos
• Card with Specimen Signature.
• PAN Card/Form 60 or 61 Copies (if the customer does not have PAN Card).
• Any other documents are relevant to students, minors, HUFs, trusts, associations, and so on.

Following are the various types of Savings Accounts that can be opened at Canara Bank-

These are available to anyone who wishes to open a savings account with Canara Bank. This account needs a minimum balance of Rs. 500 for rural branches and Rs. 1,000 for semi-urban, urban, and metro branches.

This account is an attempt to encourage more people to participate in the financial system. Individuals who do not have complete identification but can give all of the documents required for KYC can use this account. For such people, the account provides numerous benefits.

As it is a zero-balance savings account, it is intended for individuals to offer them basic banking services. These account applicants must not have any other active accounts with the branch/bank.

Canara Jeevandhara Savings Bank Account is designed to meet the demands of older adults aged 60 and up. The account has various advantages, the most important of which is a zero-balance savings account. There is no minimum balance to keep and no maintenance fees.

The account was established in accordance with the Ministry of Human Resources of the Government of India's orders to promote secondary school education for girls and dropouts from SC/ST communities. This system has various advantages.

Canara SB Power Plus caters to the requirements of society's upper crust. This account does not require an initial deposit. Residents, joint accounts, guardians on behalf of minors, trusts, institutions, clubs, NRE, and NRO clients can all open accounts. 

Canara Junior Savings Account empowers minors to manage their own finances. The account is intended for minors over the age of ten. With this account, minors receive a customized debit card in their own name.

The account is intended for businesses with 25 or more employees. Canara Payroll Package Saving Bank Account services are available to firms that have been in operation for one year.