This government bank gave a gift to the customers, removed the minimum balance penalty, no charge will be levied on zero balance..

Public sector Canara Bank has given good news for its customers. Now the bank has abolished the rule of maintaining a minimum balance on all savings accounts. After this move of the bank, there will be no charge or penalty of any kind for not maintaining a minimum balance in the savings account. This new rule will apply to all types of savings accounts.

Canara Bank is the first major government bank to remove the minimum balance limit on all types of savings accounts. After this rule, Canara Bank customers can keep zero balances in savings accounts without any penalty. It is believed that this move will benefit crores of savings account holders of the bank and can easily use the entire amount available in the account for any transaction.

Canara Bank said in its post, "From June 1, 2025, Canara Bank will not impose any penalty for not maintaining a minimum balance. This rule is for all savings account holders." Earlier, the minimum balance had to be maintained
Earlier, in savings accounts in Canara Bank, customers had to maintain a minimum balance of Rs 2,000 in cities, Rs 1,000 in semi-urban areas, and Rs 500 in rural areas. If customers were unable to maintain the minimum balance, they were fined. This new step of Canara Bank will benefit all sections including students, women, lower-income groups, and senior citizens.

Profit of Rs 5,111 crore in March quarter
Canara Bank is one of the big government banks of the country. In the March quarter of FY 25, the bank's income was Rs 31,496 crore. During this time the bank had a profit of Rs 5,111 crore. In the entire FY 25, the total income of the bank was Rs 1.21 lakh crore. During this time the bank has made a profit of Rs 17,692 crore.

Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.