New Delhi
If there is no minimum balance in the bank account, then the bank deducts a certain amount in return. In such a situation, the customers of the bank have a lot of trouble when they also have to use the minimum amount deposited in the account in the emergency. But a government bank has now given freedom to its customers. This bank is none other than Canara Bank.
Customers of Canara Bank will no longer need to keep a minimum balance in their savings account. This rule has come into force from 1 June. There will be no penalty for not maintaining average monthly balance (amb) on all types of accounts including regular, salary and NRI accounts of Canara Bank.
Information on X
Canara Bank has given information about this on social media account X. In this, the bank has written that from 1 June 2025, Canara Bank will not impose any fine for not maintaining minimum balance. This is for all savings account holders! Canara Bank has become the first major government bank to provide zero-balance facility on all savings accounts.
How much was it to be charged?
Earlier, customers had to keep a minimum balance of Rs 2000 in urban branches, Rs 1000 in cm-ibn branches and Rs 500 in rural branches. Not doing so was fined. Now under the new policy, customers do not need to keep minimum balance.
Millions of people will benefit from this change. This includes people working, senior citizens, students, NRIs and new account holders. Now every day’s banking will be easy and without penalty.
