Latest SBI, PNB, HDFC & ICICI Minimum Balance Rules 2026: RBI BSBD Zero-Balance Update

New Delhi, February 23, 2026: The Reserve Bank of India (RBI) has clarified that there is no mandatory minimum balance requirement for regular savings accounts, and has introduced significant upgrades for Basic Savings Bank Deposit (BSBD) accounts starting April 1, 2026.

No Mandatory Minimum Balance for Regular Accounts

RBI’s position, first issued in 2002 (DBOD.Dir.BC.53/13.10.00/2002-03), remains unchanged.
Banks may set their own average monthly balance (AMB) requirements and non-maintenance charges, but:
- Charges must be transparent, reasonable, and disclosed upfront.
- Penalties cannot push an account into a negative balance.
Many public sector banks (PSBs) have already waived non-maintenance penalties for standard savings accounts between 2020–2025, easing the burden on small depositors.

Also Read: Latest FD Rates 2026: SBI, PNB, ICICI, BoB, Canara Bank & HDFC, Axis After RBI Repo Rate Pause

Bank-Wise Minimum Balance & Penalties (February 2026)

Bank	Minimum / AMB Requirement	Penalty for Non-Maintenance?	Key Notes
SBI	Nil	Waived permanently since March 11, 2020	Applies to standard accounts, including Insta Plus.
PNB	Nil	Waived	Full waiver to support financial inclusion.
Canara Bank	Nil	Waived since May 2025	Covers most savings account types.
Bank of Baroda	Nil	Waived since July 1, 2025	Majority of products included.
Indian Bank	Nil	Waived since July 7, 2025	Applies to all savings accounts.
HDFC Bank	₹5,000–₹10,000 (varies by metro/urban)	Yes	Zero-balance options available separately.
ICICI Bank	₹5,000–₹10,000 (metro/urban); lower rural/semi-urban	Yes	Non-maintenance charges apply in standard accounts.
Axis Bank	₹5,000–₹25,000 (variant & location dependent)	Yes	Higher AMB for premium variants.

BSBD Accounts: Zero-Balance Features (Effective April 1, 2026)

Starting April 1, 2026, all banks must offer Basic Savings Bank Deposit (BSBD) accounts with no minimum balance requirements. Key features include:

Zero minimum/average balance — no penalties for low or zero balance.
Unlimited cash deposits at branch/ATM/Business Correspondent, plus electronic and cheque deposits — no charges.
Free debit/ATM card (issuance and annual renewal).
Free chequebook (at least 25 leaves per year).
Free internet and mobile banking.
Free passbook or monthly e-statement.
Minimum 4 free cash withdrawals per month, including inter-bank transactions.
Unlimited digital transactions (UPI, NEFT, RTGS, IMPS) — not counted in withdrawal limits.
One BSBD per person across banks, with easy conversion from regular savings accounts.
Full transparency: Terms disclosed at account opening; changes notified in advance.

These upgrades aim to boost financial inclusion, promote digital adoption, and improve customer convenience, all without hidden fees.

Customer Advice (Especially for Delhi Residents)

If balance maintenance or charges are a concern, consider converting your regular account to a BSBD account — it is free, hassle-free, and RBI-mandated.
Always verify your specific account variant via your bank’s official website, app, or branch, as minor variations may exist.
This framework ensures banking is more accessible for everyday users while maintaining compliance with RBI rules.

Key Takeaways

Regular savings accounts do not have RBI-mandated minimum balances; banks set their own policies.
Most PSBs have already waived penalties, making accounts easier to maintain.
BSBD accounts from April 2026 offer a completely zero-balance option with multiple free services.
Customers should choose BSBD accounts if they want no hidden fees, easy digital access, and financial inclusion benefits.

Disclaimer: This article is based on publicly available information from RBI circulars, bank websites, and reliable sources as of February 23, 2026, and is provided for general information only. It is not financial or legal advice — always verify the latest rules directly with your bank, as policies may vary by account type, location, and time.