New Delhi: If you also have a savings account in the country’s leading bank Punjab National Bank (PNB), then this news is useful for you. PNB has given a big relief to its crores of account holders.
PNB has waived the penalty for not maintaining the minimum average balance (MAB) in the accounts of all its savings account customers. The bank has implemented this rule from July 1, 2025.
Low income families will get relief.
In a statement issued by PNB, it was said that this step has been taken to promote financial inclusion and empower customers. The bank has taken this decision especially keeping in mind women, farmers and low income families. After this step of the bank, customers will no longer have to worry about maintaining minimum balance. PNB MD and CEO Ashok Chandra said that this decision shows our commitment towards inclusive banking.
Customers with current accounts are not worried.
He said that we want that the financial pressure on customers should be reduced and they should be able to use banking services easily. This facility has been provided by the bank only to customers with savings accounts. Customers with current accounts are not worried about this in any way. This step makes it clear that PNB is a customer-centric and socially responsible bank. This decision is a big step towards making banking easy and fair for all.
Interest on education loan also reduced
Earlier, Punjab National Bank (PNB) has reduced the interest rate on education loan given under Vidyalakshmi Yojana by 0.2 percent. PNB said that this initiative strengthens the bank’s commitment along with increasing the reach of education. Let us tell you that Vidyalakshmi Yojana has been designed to provide financial help to students for education. After this change, education loan will start from 7.5 percent depending on the institutions.
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