This PSU bank waives minimum balance charges on savings accounts

PSU Bank of Baroda on Sunday (July 6) announced that it will waive all charges for non‑maintenance of the Monthly Average Balance (MAB) in its standard Savings Account schemes, effective July 1, 2025.

Under this customer‑friendly initiative, account holders will no longer incur penalties for MAB shortfalls.

However, the PSU bank also said that the waiver does not apply to Premium Savings Account schemes.

Beena Vaheed, Executive Director of Bank of Baroda, said that removing minimum balance charges reflects Bank of Baroda’s ongoing commitment to our customers, making banking more accessible for all. It further strengthens our efforts to deliver inclusive, value‑driven banking services to our customers.”