Punjab National Bank: Punjab National Bank (PNB) has given great relief to its customers. Now from 1 July 2025, there will be no penalty for not having 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 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 having a minimum balance on all its savings accounts since 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 remain in your account during a month. If this does not happen, the bank charges penalty. But now this will not happen in PNB and Canara Bank.
Which accounts will benefit?
This new facility will benefit all types of savings account holders including Savings Account, Salary Account and NRI Savings Account. This will make access to banking service easier and more and more people will be able to open the account as there will be no problem with maintaining minimum balance.
SMS and ATM transaction charge still released
However, despite the removal of the minimum balance penalty, PNB will still recover some other charges. For example SMS will charge a minor charge from customers for alert service. Which includes transaction information, balance alert and other updates in the account. Apart from this, 5 free transactions in which cash withdrawal, balance inquiry etc. are provided every month with PNB debit card. After this, a charge of Rs 23 will be charged on every extra transaction.
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