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No penalty on minimum balance: 6 banks that have removed savings . . . Several major Indian banks, including PNB, Bank of Baroda, Indian Bank, Bank of India and Canara Bank, have eliminated the requirement to maintain an Average Monthly Balance (AMB) in many or all savings accounts Effective July 2025, customers of these banks will no longer face penalties for failing to meet minimum balance criteria
Minimum Balance Requirement Removed: Full List of Banks, Waiver Dates . . . 🏦 Minimum Balance Requirement Removed by Indian Banks in 2025 — Full List, Waiver Dates Benefits [Updated: July 9, 2025] In a major update for bank account holders, several top public sector banks in India have removed the Minimum Balance Requirement (AMB) from savings accounts, allowing customers to maintain zero balance without facing penalties This move marks a significant shift in India’s retail banking policies, boosting financial inclusion and customer satisfaction
These Banks Have Removed Minimum Balance Requirement: Check List Here are the banks to have removed the AMB requirement: Bank of Baroda Bank of Baroda waived charges on non-maintenance of minimum balance in all standard savings accounts starting July 1, 2025
Bank of India Revises Deposit Lending Rates, Waives Minimum Balance . . . Responding to a softer policy-rate environment, Bank of India, one of the country’s leading public sector banks, has announced a series of key revisions across its deposit and lending products, alongside the complete waiver of minimum-balance penalties on savings accounts These changes are aimed at aligning with market dynamics, enhancing financial flexibility, and delivering greater value to customers across segments Effective July 7, 2025, the Bank has rationalised interest rates on
Bank Of India Minimum Balance Waiver: Bank of India Waives Minimum . . . Bank of India (BoI) has joined a growing list of public sector lenders waiving penalties for non-maintenance of minimum average balance (MAB) across all savings account schemes, as state-owned banks intensify efforts to retain and attract depositors in a declining interest rate environment