PNB Removes Minimum Balance Penalty (Know the Details)

Punjab National Bank: Punjab National Bank (PNB) has announced major relief for its customers. Starting from July 1, 2025, there will be no penalty for not maintaining the Minimum Average Balance (MAB) in any savings account.

This decision will mainly help women, farmers, and people with low income, as they no longer need to worry about keeping a minimum balance in their accounts. PNB has now become the second public sector bank in the country to offer this benefit.

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Earlier, Canara Bank had also removed this penalty from all its savings accounts starting June 2025. Now, PNB customers can operate their savings accounts with zero balance without facing any extra charges.

What is MAB?

MAB, or Minimum Average Balance, is the average amount you are required to maintain in your account throughout a month.

If the account balance falls below this average, banks usually charge a penalty. But now, PNB and Canara Bank have scrapped this penalty rule.

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Which Accounts Will Benefit?

This benefit will apply to all types of savings accounts including regular savings accounts, salary accounts, and NRI savings accounts.

This move will improve access to banking services and encourage more people to open accounts, as maintaining a minimum balance will no longer be a problem.

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SMS and ATM Charges Still Apply

Although the minimum balance penalty is removed, PNB will still charge for certain other services. For example, a small fee will be charged for SMS alerts.

These alerts provide updates such as transaction details, balance information, and more.

Additionally, PNB offers 5 free ATM transactions per month with its debit cards, including withdrawals and balance inquiries. After these 5 transactions, a fee of ₹23 will be charged for each additional transaction.

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