Indian Overseas Bank (IOB) has announced the waiver of minimum balance charges across its savings account portfolio, aiming to improve customer accessibility and financial inclusion. The move allows account holders to maintain flexibility in their banking without incurring penalties, particularly benefiting salaried individuals, students, and low-income customers. Bank officials highlight that this initiative aligns with IOB’s strategy to enhance customer experience, promote digital banking adoption, and remain competitive in an increasingly crowded retail banking sector.