https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Big Boost for Customers: Indian Bank Waives Minimum Balance Charges Across All Savings Accounts, Cuts Lending Rate

Indian Bank waives minimum balance charges on all savings accounts and cuts one-year MCLR to 9.00%, boosting financial inclusion and lowering borrowing costs.
Indian Masterminds Stories

In a significant move to enhance financial inclusion and customer satisfaction, Indian Bank has announced a complete waiver of minimum balance charges for all Savings Bank accounts, effective July 7, 2025.

Financial Inclusion at the Forefront

The waiver is aimed at benefiting a wide segment of society—including students, senior citizens, small business owners, and rural populations—who often struggle to maintain mandatory minimum balances. This initiative is part of Indian Bank’s broader strategy to promote inclusive banking.

This initiative is a part of our continued efforts to make banking more inclusive and user-friendly for all,” said a senior official from Indian Bank. “We believe this will encourage more people to open and maintain savings accounts, bringing more individuals into the formal financial system.

Read Also: Indian Bank and IOCL Sign MoU to Provide Channel Financing Solutions to Dealers 

Relief on Borrowing: MCLR Cut by 5 Basis Points

Alongside this customer-friendly move, Indian Bank has also announced a 5 basis point reduction in its one-year Marginal Cost of Funds Based Lending Rate (MCLR), bringing it down to 9.00%, effective July 3, 2025.

This is expected to make retail and business borrowing slightly more affordable, providing relief in the current high-interest-rate environment.

A Dual Approach to Customer Empowerment

The combination of eliminating penalties and lowering borrowing costs demonstrates Indian Bank’s focus on offering value-driven financial services and empowering a broader customer base.

The bank’s actions are in line with government and regulatory goals to deepen the reach of formal banking and support the underserved.

Read also: SBI and Indian Bank Announce Key Changes in Senior Management – Check All Postings

About Indian Bank

Indian Bank is a leading public sector bank in India, headquartered in Chennai. Established in 1907, it is fully owned by the Government of India. In April 2020, it merged with Allahabad Bank, significantly expanding its network and customer base. Indian Bank offers a wide range of banking and financial services, including retail, corporate, agricultural, and digital banking, serving millions of customers across India and abroad.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Bihar Cabiner meeting expressways
Bihar's Infrastructure Leap: 12 Districts to Benefit as New Greenfield Expressway Cuts Raxaul-Haldia Travel to Under 10 Hours
Bhupendra Patel CM Gujarat Cooperative
Gujarat Charts Grand Plan for International Cooperative Year 2025 under CM Patel’s Leadership - Details Inside
ministry of information and broadcasting MIB
MIB Issues Transfer & Posting Orders for 31 IIS Officers Across Media Units, Effective Immediately - Check Details Here
Bihar Government-resized-IM
Cane to Cash: Bihar Govt Rolls Out Rs49 Crore Scheme to Boost Sugarcane Farming and Farmer Incomes
bureaucracy news
Anil Kumar Singhal Repatriated to Andhra Pradesh Cadre; FSIB Chairperson & Members Get One-Year Extension
Bhupendra Patel CM Gujarat
Gujarat Secretariat Leads the Way in Reducing Plastic Usage with 'Sakhi Neer' Glass Bottling Initiative
temple
Ghela Somnath Mahadev Temple to Shine with Rs10 Cr Redevelopment Plan, Echoing ‘Vikas Bhi, Virasat Bhi’ Vision
PESB
PESB Selects Nripendra Nath as New Director (Technical) for CMPDIL - Know More About Him
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Air India
Is Air India Carrying The Burden of Split Before Privatisation?
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
WhatsApp Image 2025-06-25 at 5.07
Why Has the DGCA Fined Air India Rs 5 Crore Since Privatisation?
ADVERTISEMENT
UPSC Stories
IPS Deepak Meghani
Deepak Meghani, IPS: A Journey of Focus, Failure, and Quiet Discipline
A passionate writer, he has authored several books in Gujarati, ranging from exam strategy guides to...
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
IAS Abhinav Gopal IAS Deepak Karwa
Two IAS Officers Make History by Completing English Channel Swim
Bihar Cabiner meeting expressways
Bihar's Infrastructure Leap: 12 Districts to Benefit as New Greenfield Expressway Cuts Raxaul-Haldia Travel to Under 10 Hours
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Air India
Ex IRS C Rajendiran
WhatsApp Image 2025-06-25 at 5.07
ADVERTISEMENT
ADVERTISEMENT