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Aug 9, 2025
ICICI Bank has also recently redefined its minimum balance requirements effective August 1, 2025, with a steep increase, especially for new accounts in metro and urban branches. Several major public sector banks like SBI, PNB, Canara Bank, and Bank of Baroda have waived or redefined their minimum balance requirements to promote financial inclusion in 2025.
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No minimum balance requirement across all savings accounts.No penalties for non-maintenance.Supports financial inclusion since 2020.
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New accounts must maintain:Metro/Urban: ₹50,000Semi-Urban: ₹25,000Rural: ₹10,000Penalties apply if balance not maintained.
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Requires minimum average monthly balances of:Metro/Urban: ₹10,000Semi-Urban: ₹5,000Rural: ₹2,500
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No penalties for minimum balance shortfall as of July 2025.Promotes financial inclusion across branches.
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Mandate waived since May 2025.Zero minimum balance for all types of savings accounts.
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No minimum balance penalty on standard savings accounts since July 2025.Premium accounts excluded.
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Bank of IndiaGeneral savings account minimum balance (urban/metro): ₹1,000Semi-urban/rural: ₹500Some zero-balance accounts available.
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Minimum balance around ₹12,000 (Easy Access Account) in metro/urban branches.Lower and zero-balance variants exist.
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Ranges from ₹2,500 to ₹50,000 depending on account type.Varies widely by variant and location.
Image Source: Agencies
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