PNB Removes Minimum Balance Requirement in Savings Accounts from July 1, 2025

Punjab National Bank (PNB) has taken a major step towards customer empowerment by waiving penal charges for non-maintenance of minimum average balance (MAB) in all savings accounts. Effective 1 July 2025, this initiative is part of the bank’s broader mission to support financial inclusion and provide relief to priority groups.

Supporting Vulnerable Groups Through Waiver

The waiver is especially aimed at helping women, farmers, and low-income households, groups that often find it difficult to maintain minimum balances. By eliminating these penalties, PNB hopes to relieve financial stress and encourage broader access to formal banking services, thus strengthening financial literacy and trust in the banking system.

Leadership Commitment and Strategic Intent

“This decision reflects our unwavering commitment to inclusive banking. We believe that waiving these charges will ease financial pressure on customers and encourage greater participation in the formal banking ecosystem,” said Ashok Chandra, Managing Director and CEO of PNB. The move is a reflection of the bank’s long-standing focus on customer-first policies and economic equity.

A Step Towards Equitable and Accessible Banking

PNB’s statement underlined the bank’s resolve to be a socially responsible and customer-focused institution. By removing these fees, the bank not only reduces barriers to banking access but also reinforces its position as a progressive institution supporting financial empowerment across India.

Also Read: Canara Bank Transfers ₹2,283.4 Crore Dividend to Central Government for FY25!

PNB Share Price Performance 

As of July 2, 2025, at 9:45 AM, PNB share price is trading at ₹113.07 per share, reflecting a gain of 2.33% from the previous closing price. Over the past month, the stock has gained by approximately 5.00%. 

Conclusion

With this move, PNB sets a strong precedent for other institutions by removing a key hurdle that deters many from using banking services. As it continues its commitment to inclusivity, PNB’s decision highlights the evolving landscape of Indian banking, one where accessibility, equity, and customer well-being take centre stage.

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