Canara Bank Zero Balance Savings Account

Last Updated : March 22, 2025, 2:56 p.m.

Canara Bank is one of the most customer-centric banks in the country. It has always been committed to improving customer satisfaction and enhancing the benefits for customers. It aims at providing state-of-the-art banking solutions to its customers and provides inclusive growth opportunities. Canara Bank hence introduced the top zero balance savings accounts for better inclusion of all its customers. In this article, we will have a deeper understanding of Canara Bank zero balance accounts provided by Canara Bank, their features and benefits.

Types of Canara Zero Balance Savings Account

1. Canara Aspire Savings Account
2. Canara SB Galaxy Account
3. Canara Jeevandhara Platinum Account
4. Canara Jeevandhara
5. Canara BSBDA Account

Features & Benefits of Canara Bank Zero Balance Savings Account

Canara Aspire Savings Account

• Zero balance account
• Free one certificate course from Coursera for customers maintaining a QAB of Rs. 5000.
• One more free course is offered to customers
  • Maintaining QAB above 25,000 and crossing a threshold level for several debit transactions of 50 in 6 months
  • For customers availing education loans.
• Free Rupay Platinum Millennial Card
• Nil AMC on the debit card until the age of 28 for the customer.
• Free SMS
• 0.50% concession in ROI of fresh education loan, over and above any existing concession for customers maintaining QAB of Rs. 5000/-.
• Personal accident insurance cover of 6 Lakhs (Card based + Cancare Policy)
• Card-based offers on Amazon, Swiggy, BookMyShow and Gaana
• Complimentary Airport Lounge Access
• Canara Bank Balance Check Enquiry

Canara SB Galaxy Account

• Accounts can be opened with zero balance
• Free Debit Card/Credit Card.
• Freebies to be distributed above the average balance of INR 50,000
• Demat Account to be opened at the SB account opening stage itself
• No AMC charges
• Free SMS / NEFT /RTGS.
• Personal insurance cover of INR. 5 lakhs
• Net Banking & Mobile Banking are available

Canara Jeevandhara Platinum Account

• Zero initial balance
• No minimum balance requirement
• 0.75 % over & above the contractual deposit rate for loan deposits
• Rupay Select Debit Card
• ATM Cash Withdrawal limit: Rs. 100000/ per day.
• Free unlimited ATM transactions.
• Free Credit card Issuance
• Fee NEFT/ RTGS/ NET Banking/ SMS Alerts/IMPS/DD
• 50 % concession in locker rents

Canara Jeevandhara

• Zero Initial Balance
• No minimum balance requirement
• Rupay Platinum Debit Card
• Free Debit card issuance and no AMC Charges
• ATM Transactions Unlimited
• Airport Lounge Facility Based on Debit Card issued
• Free Credit Card issuance
• 50% concession on locker rent - If an average balance of Rs. 2 lacs is maintained on an annual basis
• Sweep in / Sweep Out facility available.
• Personalised Cheque Books
• 60 leaves per annum

Canara BSBDA Account

• The deposit of cash at bank branches
• Cash deposits at ATMs/CDMs
• Receipt / Credit of money through any electronic channel
• Unlimited value of deposits that can be made in a month
• Account holders are allowed a maximum of four withdrawals per month
• The above facilities will be provided free of charge without any requirement for a minimum balance other Facilities :
  • Nomination Available.
  • Pass book, Internet and Mobile Banking, transfer of account from one branch to another, etc.

Eligibility For Canara Zero Balance Savings Account

• You must be a resident of India to open a Canara Bank Basic Savings Deposit Account.
• The minimum age requirement is 18 years.
• KYC Documents: You'll need to provide Know Your Customer (KYC) documents, including proof of identity and address.
• A valid email ID and mobile number are required for registration.

Documents Required for Canara Bank Zero Balance Savings Account

Identity Proof: Passport, Voter ID, Driving License, Aadhaar Card, PAN Card, NREGA card.

Address Proof: Passport, Voter ID, Driving License, Aadhaar Card, Utility Bills.

Application Form: fill out the bank's prescribed application form.

Photographs: Two recent passport-size photographs.

How to open a Canara Zero Balance Savings Account?

You can open a Canara Zero Balance Savings account online and offline.

• Visit the official website of the bank and select the opening account option for easy access to the application form.
• Fill in the application form
• Upload required documents.
• Video KYC can be done by the bank.
• You can also call on the official number for more information

You can open a zero-balance account offline

• Visit the branch with KYC documents for verification
• Fill in the application form
• Once the documents are verified, the account is opened.

Maximum Limit for Canara Zero Balance Savings Account

• The maximum limit for a BSBDA account is INR 50,000.

UPI Transaction Limit of Canara Bank Zero Balance Savings Account

• The maximum UPI transaction limit is ₹1,00,000 per day for P2P transactions and up to 20 transactions within 24 hours.
• For Android devices, the initial limit is ₹5,000 for the first 24 hours after registering for UPI.
• For iOS devices, the initial limit is ₹15,000 for the first 72 hours, with a maximum of ₹5,000 in any 24 hours.

What is the Withdrawal Limit Per Day for Canara Zero Balance Savings Account?

For a Canara Bank Savings Account ,

• You can withdraw a maximum of Rs. 1,00,000 per day from ATMs.
• You can use your debit card for POS (Point of Sale) transactions up to Rs. 5,00,000 per day.