Canara Bank Minimum Balance Requirements (2025) – Complete Guide

Canara Bank is one of India’s leading public sector banks with a vast network of branches across the country. If you are planning to open a savings account in Canara Bank, or already have one, it’s important to understand the minimum balance requirement and its related charges.

Account Type	Location	Minimum Balance
Regular Savings Account	Rural	₹500
	Semi-Urban	₹1,000
	Urban / Metro	₹2,000
Canara Small Savings Account	All locations	₹0 (Zero Balance)
Canara Basic SB Account	All locations	₹0 (Zero Balance)
Canara NSIGSE Account	All locations	₹0 (Zero Balance)
Student / Minor Accounts	All locations	₹0 – ₹500

Canara Zero Balance Accounts

If you don’t want the hassle of maintaining a monthly minimum, consider these:

1. Canara Basic Savings Bank Deposit Account

• Zero balance required
• Free ATM card & passbook
• Suitable for low-income individuals

2. PM Jan Dhan Yojana Account

• Zero balance
• Accidental insurance cover
• DBT (direct benefit transfer) ready

3. Canara NSIGSE Savings Account

• For girl students under govt schemes
• No minimum balance needed

Documents Required to Open an Account

• Aadhaar Card
• PAN Card or Form 60
• Passport-size photos
• Address proof (if not on Aadhaar)
• For student/minor accounts: Student ID / Guardian documents

Non-Maintenance Charges

If you fail to maintain the required minimum balance in your savings account, Canara Bank may levy a Monthly Service Charge. These can vary depending on how much you fall short.

Example:

• If required balance is ₹2,000 and your balance is ₹500, you may be charged between ₹10 to ₹100/month plus GST.

You can check the exact penalty on Canara Bank’s Schedule of Charges or by visiting your branch.

How to Avoid Minimum Balance Penalty

Here are smart ways to avoid penalties:

1. Switch to a zero balance account like Canara Basic Savings or Jan Dhan Yojana.
2. Keep a reminder for auto deposits every month.
3. Avoid frequent ATM withdrawals that reduce balance.
4. Link bill payments or SIPs with a buffer amount to maintain balance.
5. Monitor balance via Canara AI1 mobile app or net banking.

Conclusion

Canara Bank offers flexible options for both regular and zero balance accounts. While regular savings accounts require maintaining a minimum balance (₹500 to ₹2,000), you can avoid penalties by opting for zero balance variants.