Bank wave off average minimum balance charges: The problem of many people is often that if there is no money in the account, the average minimum balance charge is deducted by the bank. But now there is no need to worry about the customers of Savings Accounts. Six big banks, including SBI, have recently abolished the charge incurred in the form of average monthly balance. That is, if your account remains empty, then no charge will be deducted from the bank. Let us know that the banks have now finished the minimum balance charge-

1-Bank of Baroda

The Bank of Baroda has abolished the charcha to not fulfill the terms of minimum balance on all standard savings accounts from 1 July 2025. However, this charge has not been finished on premium savings account schemes.

2-Indian Bank

Indian Bank has also announced to completely eliminate the minimum balance charge on its own. The average minimum balance charge has ended since 7 July 2025 on all types of savings accounts.

3-kenra bank

In the month of May this year, Canara Bank has abolished the minimum balance charge levied on the savings account in all ways, including the regular savings account. These include salary and NRI savings account.

4-PNB

Punjab National Bank has also given relief to its customers and has abolished the minimum average balance charge on all types of savings accounts.

5-State Bank of India

The State Bank of India, who has been charging average minimum balance since 2020, has also ended it now. That is, no charge will be charged even if the terms of minimum balance are not met on the savings account.

6- Bank of Baroda

Bank of Baroda has also decided not to take any charge from the bank customers for not fulfilling the terms of minimum balance. According to the press release of Bank of India, these changes have been made with the aim of increasing the changed conditions and financial flexibility of the market.

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No penalty for low balance: Till now, there was a rule in any bank that if you do not maintain a certain amount in a month, then you have to pay for it. But now a big relief is going to be available from a government sector bank. Now no fee will have to be paid even if the minimum balance bank is not in the bank. It has been announced by Canara Bank that there is no need to complete the rules of keeping minimum balance in the savings account.

The law of minimum balance is over

Canara Bank said that bank customers will no longer be charged for not having minimum balance in the account, which includes Savings Account, NRI Savings Account and Salary Account. The statement said on behalf of the bank that it has been implemented from 1 June 2025. Earlier, the account was charged by the bank if there was no certain minimum balance in the month.

This rule has been started by Canara Bank at present and it is expected that after this initiative of the bank, people will get relief because many people are unable to meet the terms of minimum balance, due to which they have to be charged every month.

Separate charge of separate bank

It is worth noting that at this time, every bank has different rules for urban, semi urban or rural areas for minimum balance from every bank. From time to time, changes are made by the bank. That is why it is definitely that you regularly know the rules of the bank, which has your account. If you do not have a minimum balance, you can be deprived of facilities like check book, or net banking on behalf of some banks.

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