Bank of Baroda (BoB) has announced that, starting July 1, 2025, it will waive all minimum‑balance charges on its standard savings accounts—meaning customers will no longer be penalized for falling below required daily balances—though charges will still apply to premium tiers like Master Stroke, Sapphire Women, Shubh, Platinum, and Institutional accounts . Meanwhile, in the U.S., JPMorgan Chase is intensifying its efforts to boost deposits and maintain fee revenue, continuing to offer waivers on monthly service charges for checking and savings accounts only if certain criteria are met—such as maintaining minimum balances, setting up direct deposits, or linking accounts .

In essence, BoB is simplifying banking for everyday users by removing penalties outright, while Chase is doubling down on incentives to encourage deposit growth and fee avoidance compliance.

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