Minimum Balance Bank Rules- Are you often worried about maintaining the minimum balance in your bank account? Now there is some relief news for you. Many big government banks have given a big relief to their customers by eliminating the charge for not maintaining minimum balance in the savings account. Now, those having savings account in Indian Bank will not be required to maintain any minimum balance in the account.
SBI- State Bank of India had already abolished the minimum balance requirement in the year 2020. From then till now, SBI savings account holders do not have to pay any penalty if their balance goes down.
Canara Bank decided in May 2025 that now there will be no need to maintain minimum balance on all its savings accounts like regular, salary and NRI accounts.
Punjab National Bank (PNB) has also recently announced that now no penalty will be charged from its customers even if they do not maintain the Minimum Average Balance (MAB). Earlier in PNB, this penalty was levied according to the shortfall. That is, the lesser the balance, the higher the charge.
This will provide great relief to millions of customers, especially students, senior citizens and people from small towns who found it difficult to maintain balance every month.
Let us tell you that under the Average Monthly Balance rule, customers have to maintain a fixed amount in their savings account. For example, a minimum balance of Rs 10,000 has to be maintained in HDFC Bank’s savings account. If the total amount deposited in your bank account is less than Rs 10,000, then you have to pay a penalty on the difference in the reduced amount.
Suppose, you have Rs 8500 in your bank account, then you will have to pay a penalty on the amount reduced from Rs 10,000 i.e. Rs 1500. But Indian Bank, SBI, Canara Bank and PNB will no longer charge penalty for average monthly balance from their customers.