PNB Waives Minimum Balance Penalty for Savings Accounts: In a major move toward inclusive banking, Punjab National Bank (PNB) has scrapped the penalty for no minimum balance in savings accounts. Starting July 1, 2025, all savings account holders will benefit from this customer-friendly policy.
This decision applies to all types of savings accounts, regardless of the account holder’s income, location, or background.
A Step Toward Inclusive and Accessible Banking
PNB’s latest decision is part of its broader effort to promote financial inclusion. The bank aims to make banking services more accessible to low-income households, farmers, women, and others from underserved communities.
By removing the burden of maintaining a minimum average balance (MAB), PNB is opening doors for many who may have previously found banking unaffordable or inconvenient.
What This Means for PNB Customers
This change means customers no longer have to worry about penalty charges if they don’t keep a certain balance in their savings account.
It offers relief for those who face irregular incomes or sudden financial stress. Now, account holders can enjoy the benefits of formal banking without hidden costs.
This initiative is especially helpful for rural and semi-urban customers who often struggle with strict balance requirements.
Strong Commitment from PNB Leadership
Ashok Chandra, Managing Director and CEO of PNB, shared that this decision reflects the bank’s focus on inclusive growth.
He emphasized that waiving these charges will reduce financial stress and help more people join the formal financial system. PNB is not only improving services but also aiming to become more customer-focused.
Long-Term Impact on the Banking Ecosystem
By eliminating penalties, PNB is strengthening customer relationships and enhancing trust. It expects to attract more new account holders and retain existing ones through better service.
This initiative also supports the government’s broader financial inclusion goals and sets a benchmark for other banks.
As more people open and maintain savings accounts, PNB hopes to boost its presence in the market and deepen its social impact.
Why This Matters to You
If you’re an existing or potential PNB customer, you no longer need to maintain a specific balance to avoid fees. This makes it easier to manage your savings account without worry.
However, while this change removes penalties, it’s still important to manage your account wisely. Maintaining some balance is useful for emergency access and to keep your account active.
NB’s move to waive minimum balance penalties reflects a strong push toward customer-first, inclusive banking. It helps remove entry barriers for millions and encourages more people to join the formal financial system.
With this bold step, PNB reinforces its role as a leader in promoting financial accessibility, paving the way for other banks to follow suit.
If you have a PNB savings account—or plan to open one—there’s good news ahead. No minimum balance required, no hidden fees, just easier banking for all.
