Race of MAB waiver in PSBs

[telescope]

That is

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.

Not how it works. All banks are mandated by RBI to clearly update the schedule of charges sheet on their website.

Twitter banner is not enforceable in case banks levy charges. All banks have removed the banner from their own website.

 

[Lordkk]

That is

Not how it works. All banks are mandated by RBI to clearly update the schedule of charges sheet on their website.

Twitter banner is not enforceable in case banks levy charges. All banks have removed the banner from their own website.

They do have press releases which would be enforceable.

https://www.indianbank.bank.in/wp-content/uploads/2019/03/Indian-Bank-waives-off-Minimum-Balance-Charges-on-Savings-Accounts-Reduces-MCLR-to-9.00.pdf

https://canarabank.com/UploadedFiles/Pdf/31.05.2025%209only%20in%20English)%20Canara%20Bank%20Waives%20Charges%20for%20Non-Maintenance%20of%20Minimum%20Balance%20for%20all%20SB%20Accounts.pdf

 

[Lordkk]

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?

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

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.

Ok so I think Canara bank has written it well.

Complete waiver of charges for Non-Maintenance of minimum balance for all SB
account types, which includes Savings Accounts, Salary Accounts, NRI SB Accounts etc

 

[tuhin]

Ok so I think Canara bank has written it well.

Complete waiver of charges for Non-Maintenance of minimum balance for all SB
account types, which includes Savings Accounts, Salary Accounts, NRI SB Accounts etc

Even BOB mentioned clearly which are the types of accounts where there is no zero balance facility.

 

[6ix9ine]

That is

Not how it works. All banks are mandated by RBI to clearly update the schedule of charges sheet on their website.

Twitter banner is not enforceable in case banks levy charges. All banks have removed the banner from their own website.

Yes, I'm well aware of that, but this is being a common practice. If you are going to fight, first do with SBI as they were the first in 2020.

You can still confirm all the information by emailing customer care.

Fyi, twitter banner is indeed enforceable, if it's official by banks.