Savings account News

Indian Bank customer will not have to pay penalty on going below minimum balance across all Savings Bank accounts effective 7 July 2025. 

PNB waiver of penal charges for non-maintenance of Minimum Average Balance in savings account is effective from July 1, 2025.

Lovish Anand points out that many Indians still depend on traditional options like savings accounts, fixed deposits, or LIC policies to manage their finances.

In what will bring cheers to lakhs of Canara Bank customers, now there will be no need to maintain a minimum Average Monthly Balance in all savings accounts.

Earlier this week, HDFC Bank and Axis Bank also reduced their savings account interest rates by 25 basis points to 2.75 per cent. IC

The Reserve Bank of India (RBI) has clear guidelines on per day and per year savings account cash deposit. Though there is no limit to how much money you can keep in your savings account, you need to know the official requirements.  

Several financial rules have changed from February 2025. Here's looking at the significant ones.

How To Activate Your Inoperative SBI Savings/Current Account? Check full process here.

Cash Deposit Limit In Savings Account: What is the per day, and yearly limit? Details explained.

Minimum account balance rule does not apply to PM Jan Dhan accounts and basic savings accounts. It applies only to those bank accounts where customers are required to maintain a certain minimum balance in their accounts, Finance Minister has said.

The revised rates will come into effect from May 1, 2024.

Account holders will need to maintain an average quarterly balance of Rs 25,000 in their DCB Happy Savings Account.

The Nari Shakti Savings Account can be opened at all 5132 domestic branches and also through digital platforms.

Public Sector Lender Bank of India has an important message for the customers using its debit card. The bank has said that from 31st October, customers' debit card will be discontinued if they fail to link their mobile number. Bank of India has tweeted, "As per regulatory guidelines valid mobile number is mandatory for availing Debit Card Services. you are requested to kindly update/register your mobile number before 31.10.2023 by visiting your branch for discontinuation of Debit Card Services".

Bank Of India has said that these features are offered to our existing as well as new customers which are on-boarded to the Bank from any platforms.   

PNB Savings rate reduced. New rates effective from Feb 3. Check latest rates here.

Good news for HDFC Bank savings a/c holders! Interest rates on Savings account revised. Latest rates w.e.f February 2.

According to statistics provided by BankBazaar, small finance institutions are offering greater interest rates in the face of dropping interest rates. To attract new retail customers, small finance banks are giving greater interest rates on savings accounts.

In order to open a savings account at the nearest post office, one would require valid KYC documents along with an initial deposit of Rs 500. The interest on the post office savings account is calculated on the minimum balance between the 10th of every month and the last day of the month. If the balance comes down to zero, the post office savings account will get automatically closed.

IDFC First Bank has slashed its interest rates on savings accounts from 6% to 4-5%. The new rates will be effective from 1 May. Bank customers with balances up to Rs 2 crore will get a 5% interest rate.