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How to open Canara Bank zero balance account

Canara Bank, a state run bank, has different kinds of savings account. One of the categories of savings account is zero balance account. Canara Bank has basic savings bank deposit account which is a part of the financial inclusion objective of RBI.  

Features of Canara Bank Zero Balance Savings Account

It is a zero balance account and hence there is no need to maintain a minimum average balance. Hence, there is no penalty for not keeping a required minimum balance.

Account holders get the benefit of ATM-cum-Debit card.

Cash withdrawal and deposit is available at bank branches as well as ATMs.

Electronic payment of funds is also available.

Account holders get four maximum cash withdrawals    

No charges will be levied if the bank account remains inactive.

Passbook is available for free of cost.

Customers can also put standing instructions on this account.

Nomination facility is also available.

Factors to be eligible for Zero Balance Account

The customer should not have any other account with Canara Bank.

The bank account can be opened under an individual’s name.

Joint accounts should not have more than 4 individuals

A guardian on behalf of a minor after declaring the date of birth of the minor.

How to apply for Canara Bank Zero Balance Account

Applying for this account is extremely easy.

To open a savings bank account, fill the prescribed form.

Submit two recent passport photographs

For KYC purposes, you will need a valid identity proof and address proof.

Basic savings account or zero balance account helps individual with no access to the formal banking to open a savings account.   


Interest Rate
6%* p.a.
( 6.5% p.a. for Senior Citizens)(Open Kotak 811 and Book an FD to earn up to 7.00% interest)
Minimum Balance
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  • You can now avail the benefits of the banking solutions with a single touch
  • Kotak 811 offers a virtual debit card (VDC) for the ease of online banking
  • Ideal for all your daily needs such as shopping, groceries, cab payments, and various others
  • Earn 7.00% interest on fixed deposits and Senior Citizens can earn upto 6.5% p.a. To know more click
Interest Rate
(Up to Rs. 1 Lakh)
Minimum Balance
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  • Open an account only with the help of your Aadhar Card Can apply for this account at the micro ATM of IDFC Bank
  • Account offers Internet & mobile banking, free & unlimited ATM services, and various others.

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