Canara Bank, other banks revise savings account rates

By Sohail Khan 9 September 2026, 2:44 pm

Synopsis

Canara Bank, Bank of India, and IDFC FIRST Bank have announced updates to their savings account interest rates, which will take effect on September 1 and September 5, 2026. Canara Bank will offer interest from 2.50% to 4%, while Bank of India presents a range of 2.50% to 6.25%. IDFC FIRST Bank tops with rates from 2.50% to an impressive 7.00%, depending on the deposit amount.

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Canara Bank has revised interest rates on its savings bank account, with the interest rate varying based on the account balance. The revised rates are applicable to domestic, Non-Resident External (NRE) and Non-Resident Ordinary (NRO). Other than Canara Bank, Bank of India and IDFC FIRST Bank have also revised their savings account interest rates this month. accounts and are effective from September 5, 2026.

Here is a look at the latest savings account interest rates offered by Canara Bank, Bank of India and IDFC FIRST Bank.

Latest Canara Bank savings account interest rates

After the revision, Canara Bank savings account offers interest rates varying from 2.50% to 3.40% based on the balance in the account.

The bank is offering 2.50% interest per annum on balances of up to Rs 100 crore. The rate increases to 2.65% for balances between Rs 100 crore and less than Rs 300 crore.

The interest rate is 3.10% for balances of Rs 300 crore to less than Rs 500 crore and 3.40% for Rs 500 crore to less than Rs 1,000 crore balances.

Customers maintaining balances of Rs 1,000 crore to less than Rs 2,000 crore will earn a 3.55% rate, while the highest rate of 4% per annum is available on balances of Rs 2,000 crore and above.

Latest Bank of India saving account interest rates

The revised savings deposit rates are effective from September 1, 2026. The bank offers an interest rate of 2.50% per annum on balances up to Rs 50 crore. For balances above Rs 50 crore and up to Rs 250 crore, the interest rate is 2.60% per annum. The rate increases to 2.75% for balances above Rs 250 crore and up to Rs 500 crore.

Customers maintaining balances above Rs 500 crore and up to Rs 1,000 crore will earn 3.00% per annum. The rate is 3.15% for balances above Rs 1,000 crore and up to Rs 1,500 crore.

For balances above Rs 1,500 crore and up to Rs 2,000 crore, the interest rate is 3.30% per annum. The rate rises sharply to 4.75% for balances above Rs 2,000 crore and up to Rs 2,500 crore.

The interest rate is 5.70% for balances above Rs 2,500 crore and up to Rs 3,000 crore, while balances above Rs 3,000 crore earn the highest rate of 6.25% per annum.

Latest IDFC FIRST Bank savings account interest rates

IDFC FIRST Bank has revised the savings account interest rate effective from September 1, 2026. The bank is offering a savings account interest rate of 2.50% per annum for balances up to Rs 3 lakh. For balances above Rs 3 lakh to up to Rs 25 lakh, the savings account interest rate is 7.00% per annum. The rate is 6.25% for balances above Rs 25 lakh and up to Rs 5 crore.

For savings account balances above Rs 5 crore, the bank offers an interest rate of 5.00% per annum.

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