Opening a savings account with Canara Bank, one of India’s leading public sector banks, comes with a range of features tailored to meet diverse financial needs. Whether you’re a student, salaried professional, senior citizen, or someone looking for premium banking services, here are the key benefits you can enjoy
1. Multiple Account Options
Canara Bank offers specialized savings accounts for different customer segments
Regular Savings Account: For everyday banking needs
Canara Supreme Savings Account: Premium account with enhanced benefits
Senior Citizen Savings Account: Higher interest rates and priority services
Canara Junior Savings Account: Designed for minors to encourage savings habits
Basic Savings Bank Deposit Account (BSBDA): Zero-balance account under PMJDY (Jan Dhan Yojana).
Women’s Savings Account: Tailored benefits for women, including discounts on loans
Competitive Interest Rates
Earn interest on your savings balance. Canara Bank offers competitive rates (subject to RBI guidelines), with higher returns for senior citizens. Interest is calculated quarterly for better compounding benefits
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3. Digital Banking Convenience
Internet & Mobile Banking: Manage funds, pay bills, recharge mobiles, or transfer money via Canara ai1 mobile app or online portal.
UPI & QR Payments: Link your account to UPI apps like PhonePe, Google Pay, etc., for seamless transactions.
SMS Banking: Check balances or get mini-statements via SMS
4. Debit Card Benefits
Free Rupay/Visa debit card with contactless payment technology.
Accidental insurance coverage up to ₹2 lakh (for RuPay cardholders).
Cashback and rewards on select transactions
5. Insurance and Loan Benefits
Free accidental insurance cover up to ₹2 lakh with RuPay debit cards.
Canara Suraksha: Link fixed deposits to get insurance coverage (terms apply).
Preferential rates on loans (home, car, personal) for account holders
6. Tax Savings
Tax benefits under Section 80C for deposits in tax-saving schemes like Canara Tax Saver Fixed Deposit.
TDS exemptions with proper submission of Form 15G/15H
7. Accessibility
Wide network of 6,300+ branches and 9,900+ ATMs across India.
24/7 services via ATMs, chatbots, and toll-free customer care 1800 425 0018
8. Government Scheme Integration
Access to social security schemes like Sukanya Samriddhi Yojana (for girl children) and Atal Pension Yojana.
Overdraft facility up to ₹10,000 for PMJDY account holders
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9. Senior Citizen Benefits
0.50% higher interest rates on savings deposits and fixed deposits.
Doorstep banking services for elderly customers
10. Safe and Secure
Locker facilities available for safeguarding valuables.
Fraud detection alerts and secure two-factor authentication for digital transaction
11. Special Features
Auto-sweep facility: Automatically converts excess savings into fixed deposits for higher returns.
Easy investment options in mutual funds, insurance, or government bonds through the bank.
Global access with Forex services and international debit card
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