Discover Banks With No Minimum Balance & No Penalty Fees!

Minimum balance is not mandatory in bank accounts; Penalties imposed for not having a minimum balance have been abolished. Here is the list of banks offering this offer!

Savings Account - In Digital India, there are few people who do not have this.

But, the small problem with this is the 'minimum balance'. That is, the customer must keep a certain amount in their savings account.

Banks use this as the minimum balance for matters including the maintenance of the account.

But, not everyone can keep this minimum balance. In such a situation, banks will impose a penalty on those customers.

But some banks are exceptions to this. Those banks do not require customers to maintain a minimum balance.

Bank of Baroda: 

This bank has recently announced that 'no minimum balance is required for bank accounts'. 

However, this does not apply to premium savings account holders.

State Bank of India: 

This bank has not imposed any penalty on savings accounts without a minimum balance since 2020.

Punjab National Bank: 

This bank has also introduced this practice since the 1st of last month. There is no minimum balance required to have a savings account with this bank.

Indian Bank: 

From the 7th of last month, no minimum balance is required for any savings account of Indian Bank.

Canara Bank: 

This bank has not required any minimum balance for any accounts of Canara Bank since last May.

Bank of India: 

This bank also does not require a minimum balance.

Some private banks like ICICI and HDFC also have bank accounts without a minimum balance requirement. But this is not the case for all types of savings accounts.