The Headlines – ‘No penalty on non-maintenance’: Canara Bank waives minimum balance rule on all savings accounts

Canara Bank is set to eliminate minimum balance requirements for all savings accounts starting June 1, 2025, benefiting a wide range of customers. This move, a first among major public sector banks, removes penalties for not maintaining the Average Monthly Balance (AMB) across all account types, including regular, salary, and NRI accounts.

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