Bank of Baroda is set to waive minimum balance charges for all standard savings accounts starting July 1, 2025. This means customers with these accounts won’t be charged if their monthly average balance falls short.
Who Benefits?
This customer-friendly move applies to everyone holding a standard savings account with Bank of Baroda. However, it’s important to note that this waiver does not apply to Premium Savings Account schemes, which may still have minimum balance requirements.
This decision puts Bank of Baroda in line with other public sector banks like SBI, PNB, Indian Bank, and Canara Bank, all of whom have made similar moves to promote financial inclusion and make banking more accessible for their customers.