In a move aimed at boosting customer-friendly banking and financial inclusion, Union Bank of India has announced a complete waiver of charges for non-maintenance of minimum balance in general savings accounts, effective from the quarter ending September 2025.
The decision underscores the bank’s commitment to building a more equitable and accessible banking system for the masses. Union Bank stated that this step is intended to bring uniformity and fairness across savings products and expand access to basic banking services, especially for underserved sections of society.
“We are committed to inclusive growth, and this decision reflects our continued efforts to serve the unbanked and underbanked population,” a senior bank official said.
It is important to note that charges were already waived for PM Jan Dhan Yojana (PMJDY) account holders, pensioners, and senior citizens. The latest move extends the benefit to general savings account holders as well.
However, the waiver does not apply to other customized or premium savings account products, the bank clarified.
This customer-first approach by Union Bank is expected to deepen financial inclusion and build stronger relationships with the public banking sector.
