Minimum Balance Limit Fixed: What SBI, PNB, and HDFC Bank Customers Need to Know
Leading banks in India—State Bank of India (SBI), Punjab National Bank (PNB), and HDFC Bank—have recently clarified and updated their minimum balance rules for savings accounts, with new norms taking effect across the banking sector from mid-2025.
SBI: Zero Minimum Balance Policy
- SBI continues to maintain a zero minimum balance requirement for all regular savings accounts.
- No penalties are levied for non-maintenance of balance, making SBI accounts highly flexible and customer-friendly.
- This policy has set an industry standard and has been emulated by several other public sector banks.
PNB: No Minimum Balance for Savings Accounts
- PNB, following SBI’s example, removed all minimum balance requirements from July 2025 for regular savings accounts.
- There are no penalties or charges for non-maintenance of balance, bringing significant relief for customers, especially those from low-income segments.
HDFC Bank: Balance Requirement by Branch Type
- Urban/Metro branches: Minimum balance of ₹10,000
- Semi-urban branches: Minimum balance of ₹5,000
- Rural branches: Minimum quarterly balance of ₹2,500
- Alternatively, customers can maintain a fixed deposit to fulfill minimum requirements.
- HDFC Bank also offers zero-balance variants (Basic Savings Bank Deposit Account, salary accounts) for eligible customers.
Industry Trends
Other major banks like Axis Bank and Bank of Baroda have also adopted more customer-centric policies, offering zero-balance options and eliminating penalties for standard savings accounts. High-value/premium accounts may still have distinct criteria.
Conclusion
The recent changes provide greater banking flexibility and convenience, removing penalties for non-maintenance of minimum balances in SBI, PNB, and most variants of HDFC Bank savings accounts. Customers are urged to check with their bank for account-specific requirements, as premium and speciality accounts may have different rules.
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