Minimum balance waiver indian bank pnb: Several major Indian banks

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. In a move welcomed by millions of customers, two leading public sector banks— Indian Bank and Punjab National Bank (PNB) —have officially removed minimum balance charges for their savings account holders. Two major Indian banks—Indian Bank and Punjab National Bank (PNB)—have removed penalties linked to maintaining minimum balance in savings accounts. These changes, introduced in early July 2025, aim to help more people access banking services, especially those from rural and financially weaker parts. SBI, Canara Bank, Indian Bank, and PNB have all eliminated minimum balance charges on savings accounts from 2020–July 2025, improving banking ease for customers.