Canara bank minimum balance: Canara Bank waives minimum balance requirement on

Canara Bank waives minimum balance requirement on all savings accounts With this move, the bank becomes the first major public sector bank to remove AMB-related charges. It means all savings ... Canara Bank , effective Sunday, 1 June 2025, removed the minimum balance requirements for all its savings accounts. (Bloomberg) Canara Bank minimum balance : With the decision, customers are no longer required to maintain Average Monthly Balance (AMB) which means from now, there is no penalty charges if AMB is not kept in the bank account. Effective today (Sunday), June 1, 2025, Canara Bank will no longer require customers to maintain Average Monthly Balance (AMB) in any type of savings bank account. In a major relief for millions of bank customers, Canara Bank , one of India’s leading public sector banks, has taken a customer-friendly decision that will change the way people manage their savings accounts. The bank has officially removed the requirement to maintain a minimum balance in savings accounts. This step is seen as a progressive move to make banking more accessible and stress-free for everyone.