PNB Minimum Balance Changers: Punjab National Bank has given great news to its customers. The bank has abolished the penalty for not maintaining minimum balance in the savings account. This decision of the bank has brought great relief to the customers.
PNB Minimum Balance Changers: Punjab National Bank (PNB) is the third largest government bank in the country in terms of market cap. In terms of customers, PNB is also included in the list of largest government banks in India. Which has crores of customers. It has a strong network of thousands of branches.
If you are a customer of PNB then this news is very important for you. The bank has given great news to its customers. On hearing which the customers will be overjoyed. The bank has abolished the penalty for not having minimum balance in the savings account. Customers have got great relief from this decision of the bank.
This new rule of savings account has come into effect from July 1, 2025. In an official statement, the bank said that this step has been taken to promote financial inclusion and empower the customers. The bank has taken this decision especially keeping in mind women, farmers and low-income families.
After this move of the bank, the customers are no longer worried about maintaining minimum balance. PNB Managing Director and CEO Ashok Chandra said that this decision reflects our unwavering commitment towards inclusive banking. He further said that we believe that waiving these charges will reduce the financial pressure on customers.
Low income account holders will benefit the most
This decision will benefit many weaker sections like rural areas, working class, women, students and the elderly. Till now, due to the condition of minimum balance, they either had to close their account or pay unnecessary charges. The bank believes that this step will directly benefit millions of account holders across the country.
Current account customers are not concerned
This facility has been provided by the bank only to customers with savings accounts. Current account customers are not concerned with this in any way. This step makes it clear that PNB is focusing a lot on the facilities of its customers.
Reduction in education loan interest rate
Earlier, Punjab National Bank (PNB) had reduced the interest rates on education loans given under the Vidyalakshmi scheme. The bank had reduced the interest rate on education loan by 0.2 percent. Let us tell you that Vidyalakshmi scheme has been designed to provide financial assistance to students for the purpose of providing education.
