SBI, PNB, and BOB minimum balance rules for 2026: Punjab National Bank (PNB) has received the highest amount among all public sector undertaking (PSU) banks from its savings account customers for not maintaining minimum balance in the financial years FY 2022-23, FY 2023-24 and FY 2024-25, according to data provided by the Finance Ministry in Parliament.
Union Bank of India ranked first among all PSU banks in the same financial year when it came to the highest amount received for providing SMS facility to its customers.
In FY 22-23, FY 23-24 and FY 24-25, it received the highest amount for not maintaining minimum balance in savings accounts.
According to data provided by State Finance Minister Pankaj Chaudhary, PNB received a total of ₹1,577.87 crore from its customers for not maintaining a minimum balance in savings accounts over three financial years.
Bank of Baroda came in second with ₹1,272.17 crore, while Indian Bank received ₹1,166.27 crore and came in third.
Here are the details of charges levied by nationalized banks for not maintaining a minimum balance over the last three financial years.
Charges for not maintaining minimum balance
| Bank | FY 2022-23 | FY 2023-24 | FY 2024-25 | Total |
| Punjab National Bank | 486.16 | 674.04 | 417.67 | 1577.87 |
| Bank of Baroda | 387.52 | 443.3 | 441.35 | 1272.17 |
| Indian Bank | 295.23 | 367.66 | 503.38 | 1166.27 |
| Canara Bank | 390.85 | 358.67 | 277.71 | 1027.23 |
| State Bank of India | 211.47 | 302.95 | 418.4 | 932.82 |
| Bank of India | 174.99 | 194.25 | 170.83 | 540.07 |
| Union Bank of India | 128.7 | 188.21 | 178.84 | 495.75 |
| Bank of Maharashtra | 131.77 | 143.69 | 152.86 | 428.32 |
| Central Bank of India | 150.81 | 135.31 | 97.19 | 383.31 |
| UCO Bank | 18.3 | 43.43 | 53.56 | 115.29 |
| Punjab & Sind Bank | 19.02 | 42.53 | 48.57 | 110.12 |
| Indian Overseas Bank | 13 | 15.06 | 15.55 | 43.61 |
Highest amount received for providing SMS facility to customers in FY 22-23, FY 23-24 and FY 24-25
Union Bank of India received Rs 1,188.14 crore for providing SMS facility to its customers in the Financial Years 22-23, FY 23-24 and FY 24-25.
Canara Bank received Rs 506.28 crore for providing the same services to be in second place. Bank of Baroda is in third position after receiving Rs 202.42 crore in SMS charge fees in the three financial years.
Here are the details of the amount of charges collected by nationalised banks on account of providing SMS facilities during the last three years below.
Charges levied for providing SMS facility
| Bank | FY 2022-23 | FY 2023-24 | FY 2024-25 | Total |
| Union Bank of India | 301.15 | 392.59 | 494.4 | 1188.14 |
| Canara Bank | 176.59 | 135.82 | 193.87 | 506.28 |
| Bank of Baroda | 176.81 | 13.52 | 12.09 | 202.42 |
| Central Bank of India | 134.02 | 114.74 | 59.96 | 308.72 |
| Punjab National Bank | 127.3 | 104.97 | 128.18 | 360.45 |
| Indian Overseas Bank | 85.22 | 31.79 | 87.88 | 204.89 |
| Bank of India | 58.77 | 58.89 | 66.12 | 183.78 |
| Bank of Maharashtra | 54.44 | 29.98 | 33.44 | 117.86 |
| Indian Bank | 43.38 | 53.66 | 85.45 | 182.49 |
| UCO Bank | 34.55 | 35.47 | 43.25 | 113.27 |
| Punjab & Sind Bank | 0.96 | 5.85 | 12.96 | 19.77 |
| State Bank of India | 0 | 0 | 0 | 0 |
Replying to a query in Parliament, Choudhary says banks offer zero-balance savings bank accounts, including Basic Savings Bank Deposit Accounts (BSBDAs) and accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), which do not require the maintenance of any minimum balance and provide basic banking services such as deposits, withdrawals and ATM access free of charge, without levy of penal charges for the non-maintenance of minimum balance.
Adding further, Choudary said: “In respect of regular savings bank accounts, public sector banks have waived or rationalised minimum balance charges in accordance with their Board-approved policies and commercial considerations, with a view to enhancing customer centricity. Such charges, where applicable, are governed by the banks’ Board-approved policies and the extant guidelines of the Reserve Bank of India (RBI), which require that the charges are reasonable, transparent, and aligned with the cost of providing the services.”
Savings accounts often come with certain conditions, including the requirement to maintain a minimum balance. If the balance drops below the prescribed limit, some banks typically levy a penalty. Alongside this, customers who opt for SMS alert services are also charged a fee.
State Bank of India (SBI) waived off minimum balance maintenance charges on its savings accounts in 2020. In July 2025, many PSU banks, including PNB, Bank of Baroda, Bank of India, Indian Bank, Canara Bank removed the minimum balance criterion in the majority of cases and in some cases, on all of their savings accounts. What is the Average Monthly Balance (AMB) for a savings account?
The average monthly balance (AMB) is the minimum balance that a customer is required to maintain in his/her bank account. If the balance in the bank account falls below the required amount, then banks levy a penalty for failing to maintain the AMB. The penalty varies based on the type of savings account.
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