Effective June 1, 2025, Canara Bank has eliminated the minimum balance requirement for all savings bank accounts, allowing customers to maintain zero balance without incurring penalties.

Key Points:

• The removal of the Average Monthly Balance (AMB) requirement applies to all savings accounts, including regular, salary, and NRI accounts. 
• Previously, customers in metro, urban, and semi-urban branches faced penalties for not maintaining minimum balances. 
• This move aims to enhance financial inclusion by making banking services more accessible and customer-friendly. 
• By waiving the minimum balance rule, Canara Bank positions itself competitively in the banking sector, potentially attracting more customers. 
• The policy change is expected to benefit a broad customer base, including those with limited income, by reducing banking costs.