Canara Bank Minimum Balance Rule:

Customers have received welcome news from Canara Bank. Starting from June 1, 2025, the bank has removed charges related to non-maintenance of minimum balance in savings accounts. This new rule brings relief to many account holders who struggled to meet the monthly balance requirement.

Canara Bank Minimum Balance Rule:

Canara Bank confirmed through an official statement that no penalty will be charged for not maintaining the minimum balance. This change applies to regular savings accounts, NRI savings accounts, and salary accounts. Earlier, customers had to maintain a fixed monthly balance in their accounts. Failing to do so would result in penalty charges from the bank.

Now, there is no need to maintain a specific amount in the account every month. Customers will not lose money for not meeting balance conditions. Many users have welcomed this move. People from rural, semi-urban, and urban areas had difficulty maintaining the required balance regularly.

This change is expected to benefit low-income account holders, students, and small savers. Canara Bank believes this decision will make banking easier and more accessible to the public. The bank also hopes this will encourage more people to open and use savings accounts.

Different banks follow different rules regarding minimum balance. These rules vary depending on whether the branch is located in an urban, semi-urban, or rural area. Some banks charge monthly penalties, while others reduce access to services like checkbooks or online banking when the balance is not maintained. It is always important for customers to stay updated with the rules of their bank.

Canara Bank is the first government sector bank to make this change. If other banks follow, more customers across India may benefit from similar relief. People are now watching to see if other banks will also relax their minimum balance rules.

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