Union Bank Of India Waives Charges For Non-Maintenance Of Minimum Balance In Savings Accounts
The waiver does not apply to other customized variants of savings accounts offered by the bank
In a move to promote financial inclusion and deliver customer-centric banking services, Union Bank of India has announced the waiver of charges for non-maintenance of minimum balance in general savings accounts. The change will come into effect from the quarter ending September 2025.
This initiative aims to ensure uniformity, fairness, and greater access to basic banking facilities, particularly for underserved sections of society. The bank reiterated its commitment to supporting inclusive growth, stating that the decision will further strengthen engagement with a wider customer base.
Previously, such waiver benefits were extended to PMJDY account holders, senior citizens, and pensioners’ savings accounts. With the new policy, general savings account holders will also be relieved from minimum balance maintenance charges.
It is important to note that the waiver does not apply to other customized variants of savings accounts offered by the bank.
