Minimum Balance Charges Comparison: Indian Overseas Bank has announced a waiver of penal charges for non-maintenance of Minimum Average Balance (MAB) in its Saving Account (SB-Public), effective from October 1, 2025.

The charges for the period up to September 30, 2025, including any shortfall, will continue to be levied as per existing rules.

The decision aims to provide relief to customers and makes the banking experience easier. Notably, the bank had already waived minimum balance charges for schemes like PMJDY, BSBDA, Small Accounts, IOB SB Salary Package, IOB Sixty Plus, IOB SB Pensioner Scheme, and IOB SB Govt Account.

“We are very happy to announce this waiver, which will provide significant relief to our account holders. This decision reflects our commitment to customer-centrici

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