Bank Minimum Balance Charges: These 6 banks including SBI have abolished the minimum balance charge on savings accounts

Average Minimum Balance Charges: State Bank of India, which has been charging average monthly balance since 2020, has also abolished it now. That is, now no charge will be levied even if the minimum balance conditions are not met on the savings account.

Bank Wave Off Average Minimum Balance Charges: The problem of many people is 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 for customers of savings accounts to worry. Recently, six big banks including SBI have completely abolished the charge levied as average monthly balance. That is, now even if your account remains empty, no charge will be deducted by the bank. Let us know that the banks have now abolished the minimum balance charge-

1-Bank of Baroda

Bank of Baroda has abolished the charge levied on all standard savings accounts for not fulfilling the minimum balance conditions from July 1, 2025. However, this charge has not been abolished on premium savings account schemes.

2-Indian Bank

Indian Bank has also announced to completely abolish the minimum balance charge. The average minimum balance charge on all types of savings accounts has been abolished from 7 July 2025.

3-Canara Bank

Canara Bank has abolished the minimum balance charge on all types of savings accounts including regular savings accounts in the month of May this year. These also include salary and NRI savings accounts.

4-PNB

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

5-State Bank of India

State Bank of India, which has been charging average minimum balance since 2020, has also abolished it now. That is, now there will be no charge even if the minimum balance conditions are not met on the savings account.

6- Bank of Baroda

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

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