Attention Money being silently deducted from bank account? Big warning from government regarding minimum balance, check your account immediately:

New Delhi. If your bank account is in State Bank of India (SBI), Punjab National Bank (PNB) or Bank of Baroda (BOB), then this news is very important for you. In the last few days, many customers have complained that money is being deducted from their accounts without any prior notice. Investigation has revealed that this deduction is happening due to non-maintenance of Minimum Average Balance (MAB).

In this era of digital banking, where salary, pension and subsidy come directly into the account, a small carelessness is putting the burden of ‘penalty’ on your deposits. After recent warnings from the government and banking regulators, customers now need to be more cautious about their account balance than ever before.

‘Mathematics’ of minimum balance: Why is your money deducted?

Most customers understand that it is enough to deposit money in the account on the last day of the month, but the bank’s rules are slightly different.

Average Balance: The bank looks at the average of the amount in your account throughout the month. If the balance is too low on any given day, it drops your average at the end of the month.

Rules depending on the region: The minimum balance limit depends on the location of your branch. This limit is high in urban areas, whereas in semi-urban and rural areas it can be very low or even zero.

SBI, PNB and BOB: Each bank has its own rules

Although all three of these giants are government banks, their service charges and minimum balance conditions are different.

Account Type Game: Customers often forget the information given while opening the bank. Some special accounts (like Jan Dhan or Basic Savings Account) have the facility of zero balance, but in regular savings account it is mandatory to keep a fixed amount.

Penalty procedure: If the balance is less than the limit, the bank deducts the charge directly from the account. Sometimes this outage may occur more than once in a month, causing huge financial loss to customers.

These account holders have got big relief

Penalties do not apply to every account. If your account falls into the following categories, you’re protected:

Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts.

Basic Savings Bank Deposit (BSBD) Account.

Pension and some special government subsidized accounts.

Salary account (as long as the salary is coming regularly).

How to avoid unnecessary cuts? (Smart Tips)

To prevent your hard-earned money from going into penalties, follow these simple steps:

Low-Balance Alert: Turn on ‘Low Balance Alert’ in your mobile banking app.

Look at the statement: Check your passbook or digital statement at least once a month.

Extra Backup: Always try to keep Rs 500-1000 more than the minimum balance in the account.

Branch Contact: If you do not know your exact limit, immediately confirm it with the bank’s website, app or customer care.