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Race of MAB waiver in PSBs

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The first post in this thread is a WikiPost, and can be edited by anyone with the appropriate permissions.
tuhin said:
Recently I am seeing a new race within PSBs to waive off Minimum Balance requirements. A few banks already waived off the charges as below:

1. SBI (State Bank of India)
2. CANARA BANK
3. CBI (Central Bank of India)
4. PNB (Punjab National Bank)
5. BOB (Bank of Baroda)
6. BOI (Bank of India)
7. INDIAN BANK

I may miss any other bank's name who is already poked his nose into this new age race. Please let me know your view on it & how are getting benefitted from this changes?

Thanks
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badiya-hai-bhusan.webp
 
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Do we expect this from top private banks ?
Kotak , indie are truly 0 balance and idfc is somewhat 0 balance to many customers.

Only left is HDFC and ICICI .
 
komal said:
Do we expect this from top private banks ?
Kotak , indie are truly 0 balance and idfc is somewhat 0 balance to many customers.

Only left is HDFC and ICICI .
Click to expand...
ICICI had 0 bal account, they closed it. It was 0 funding, no bs account.
 
tuhin said:
Recently I am seeing a new race within PSBs to waive off Minimum Balance requirements. A few banks already waived off the charges as below:

1. SBI (State Bank of India)
2. CANARA BANK
3. CBI (Central Bank of India)
4. PNB (Punjab National Bank)
5. BOB (Bank of Baroda)
6. BOI (Bank of India)
7. INDIAN BANK

I may miss any other bank's name who is already poked his nose into this new age race. Please let me know your view on it & how are getting benefited from this changes?

Thanks
Click to expand...
IOB not in the list? Didn't they waive too?
 
Strange thing is that, I cannot see the non-maintenance charges as 0 in any of the bank's schedule of fees. No banner also. As if it didn't happen. Correct me if I am wrong. But, I cannot find anywhere that says 0 charges. I searched on canara, indian, overseas, central websites.
 
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telescope said:
Strange thing is that, I cannot see the non-maintenance charges as 0 in any of the bank's schedule of fees. No banner also. As if it didn't happen. Correct me if I am wrong. But, I cannot find anywhere that says 0 charges. I searched on canara, indian, overseas, central websites.
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@TechnoFino can you take up this matter on Twitter and ask for clarification from banks if the offer is continuing, and if yes, why they didn't update the schedule of charges section on their website?
 
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telescope said:
Strange thing is that, I cannot see the non-maintenance charges as 0 in any of the bank's schedule of fees. No banner also. As if it didn't happen. Correct me if I am wrong. But, I cannot find anywhere that says 0 charges. I searched on canara, indian, overseas, central websites.
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All those banks listed in 1st page are correct. You can find banners on X handle of individual banks.

Not all account variants are 0 balance, some are still paid. PSBs has/will never put anything on their website, maybe due to people questioning 0 balance accounts (prolly banks don't want people to keep 0 balance)

SBI has also not done from 2020 itself, if someone opens new account in SBI. They still say to maintain 2K / 5K depending on their mood, though reality is it's 0 balance.
 
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6ix9ine said:
View attachment 108791

Finally, Union bank is on the list now.

CC: @Lordkk added again bhai
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In case Indian bank and Canara bank when they say they have removed charges for all account what they actually mean? Does it no charges for any variant of saving account even premium ones?

I think this is not the case. It only means that they have removed charges form all general variant of account? Like general saving, general current account.

What do you think?
 
Lordkk said:
In case Indian bank and Canara bank when they say they have removed charges for all account what they actually mean? Does it no charges for any variant of saving account even premium ones?

I think this is not the case. It only means that they have removed charges form all general variant of account? Like general saving, general current account.

What do you think?
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Good question, among the listed banks. Only BOB clarified that there will be few exceptions. I'm not too sure about it.

Think @Aniket @pinki might know about canara bank variants.
 
Lordkk said:
In case Indian bank and Canara bank when they say they have removed charges for all account what they actually mean? Does it no charges for any variant of saving account even premium ones?

I think this is not the case. It only means that they have removed charges form all general variant of account? Like general saving, general current account.

What do you think?
Click to expand...
I don't think Current Accounts are on the plate. Only BOB is providing zero balance current account as of now. No other PSBs have similar offering.

IOB didn't disclose any zero balance offer on SBs
 
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