Punjab National Bank : Punjab National Bank (PNB) has given a big relief to its customers. Now from July 1, 2025, there will be no penalty for not maintaining the minimum average balance (MAB) in any savings account.
This decision will benefit women, farmers and low-income groups the most because now they will not have to worry about maintaining the minimum balance in the account. PNB has become the second public sector bank in the country to do so. Earlier, Canara Bank had also removed the penalty for not maintaining the minimum balance on all its savings accounts from June 2025. Now PNB customers will also be able to run their account on zero balance without any extra charge.
What is MAB?
MAB i.e. Minimum Average Balance means that a fixed average amount should be maintained in your account during a month. If this does not happen then the bank charges a penalty. But now this will not happen in PNB and Canara Bank.
Which accounts will get the benefit?
All types of savings account holders including savings account, salary account and NRI savings account will benefit from this new facility. This will make access to banking services easier and more and more people will be able to open accounts as there will be no problem of maintaining minimum balance.
SMS and ATM transaction charges still continue
However, despite the removal of the minimum balance penalty, PNB will continue to levy some other charges. For example, a nominal charge will be taken from customers for the SMS alert service. Which includes transaction information in the account, balance alerts and other updates. Apart from this, 5 free transactions are given every month from PNB debit card which includes cash withdrawal, balance inquiry etc. After this, a charge of Rs 23 will be levied on every extra transaction.
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