Punjab national bank
Average monthly balance (amb) means that a fixed minimum amount should remain in the bank account every month. If this balance in the account is reduced by the limit, then banks impose fines. This penalty varies from different types of savings accounts.
Indian bank
Now the Indian Bank has completely removed the condition of keeping minimum balance on all its savings accounts. That is, now customers will not have to pay any penalty for not keeping minimum balance. This new facility will be applicable from 7 July 2025.
SBI (State Bank of India)
SBI had already abolished the minimum balance mandatory for all savings accounts in 2020. That is, even if there is no minimum balance in your account, there is no penalty.
Canra bank
In May 2025, Canara Bank has also abolished the imperative of average monthly balance for all types of savings accounts such as regular savings, salary account and NRI Savings account.
PNB (Punjab National Bank)
Now PNB (Punjab National Bank) has also announced that it too will not impose any penalty for not having minimum average balance (MAB) on all its savings accounts. Earlier in PNB, if a customer kept less than the balance fixed, then according to the amount deficient, the penalty was imposed accordingly. That is, the more deficiency in the balance, the more fine. Now with the convenience of these banks, customers will not have to worry about maintaining waste in their accounts.