Canara Bank, other banks revise savings account rates

Canara Bank, along with Bank of India and IDFC FIRST Bank, have updated their savings account interest rates for the month of September 2026. The revised rates depend on the account balance maintained by the customer.

Canara Bank offers interest rates ranging from 2.50% to 4.00% per annum, contingent on the deposited amount. Customers with balances up to Rs 100 crore earn 2.50% interest annually. The rate goes up to 2.65% for balances between Rs 100 crore and less than Rs 300 crore.

For balances of Rs 300 crore to under Rs 500 crore, the rate is 3.10%, while those with deposits of Rs 500 crore to less than Rs 1,000 crore receive 3.40% per annum. Those with balances of Rs 1,000 crore to less than Rs 2,000 crore are entitled to a 3.55% rate, and the maximum rate of 4.00% per annum is given to customers with balances of Rs 2,000 crore and above.

Bank of India has revised its savings deposit rates effective from September 1, 2026. The bank offers a 2.50% annual interest rate on balances up to Rs 50 crore. For deposits between Rs 50 crore and Rs 250 crore, the interest rate is 2.60% per annum. A 2.75% rate is provided for balances between Rs 250 crore and Rs 500 crore.

IDFC FIRST Bank has also updated its savings account interest rates, effective from September 1, 2026. The bank is providing a 2.50% annual interest rate on balances up to Rs 3 lakh. For deposits above Rs 3 lakh and up to Rs 25 lakh, the rate is 7.00% per annum. A 6.25% rate is given for balances above Rs 25 lakh and up to Rs 5 crore.

Savings account holders with balances above Rs 5 crore will earn a 5.00% annual interest rate.