New Minimum Balance Rules Announced by SBI, PNB, and HDFC Bank—Here’s What You Need to Know

India’s leading banks—State Bank of India (SBI), Punjab National Bank (PNB), and HDFC Bank—have introduced new rules regarding minimum balance requirements for savings accounts. Under these revised guidelines, account holders must maintain a specified minimum balance at all times, failing which penalties will be imposed. This move comes in response to updated directives from the Reserve Bank of India (RBI), aimed at promoting financial discipline and balancing service costs.

SBI now requires customers to maintain ₹3,000 in urban branches, ₹2,000 in semi-urban branches, and ₹1,000 in rural branches. Falling below these limits could result in charges ranging from ₹10 to ₹15, plus applicable GST. PNB has set its minimum balance at ₹2,000 for metro and urban areas, ₹1,000 for semi-urban, and ₹500 for rural branches, with penalties between ₹10 and ₹20. HDFC Bank, known for its premium services, has stricter thresholds: ₹10,000 for metro cities, ₹5,000 for semi-urban, and ₹2,500 for rural branches. Customers failing to meet these limits may incur charges up to ₹150.

However, certain account categories are exempt from these rules. These include Pradhan Mantri Jan Dhan Yojana accounts, senior citizen accounts, and student accounts. Holders of these accounts will not face penalties regardless of their balance.

Banks have clarified that the intent behind these changes is not punitive but to encourage responsible banking habits and ensure smooth service delivery. Customers are advised to monitor their account balances regularly, enable SMS or app notifications, and consider setting up auto-deposit features to avoid penalties.

In conclusion, with the implementation of these new minimum balance rules, SBI, PNB, and HDFC Bank customers must stay vigilant about their account activity. A small oversight could lead to unnecessary charges, making it essential to adopt disciplined banking practices.

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