Minimum Balance Rules: How much minimum balance will bank customers have to keep in their savings account?
Banks charge non-maintenance fines from customers for not keeping a fixed amount in the savings account of the bank. Therefore, you should keep a minimum amount in your bank every month. But, many people do not know what is the minimum balance allowed in their bank account. Due to this, when their balance decreases, banks start fining them and every year a huge amount is deducted from it.
If you also want to know what minimum balance you have to maintain in your savings account, then this news is for you. Here we are giving information about the minimum balance of different banks…
State Bank of India-
If you have a savings account in the State Bank of India and you live in a metro or city, then you will have to keep at least Rs 3000 in your account. Whereas if you keep it in a semi-urban or small town then you will have to maintain a minimum balance of Rs 2,000. If the account is in the village bank, then it is necessary to keep at least Rs 1,000 in the savings account.
Punjab National Bank-
Regular Savings Account customers of Punjab National Bank (PNB) in urban, semi-urban, and metro areas are required to maintain a minimum balance of Rs 2,000. At the same time, PNB customers having savings accounts in rural areas will have to maintain a monthly average balance of Rs 1,000.
HDFC bank-
HDFC Bank regular savings account customers located in urban and metro locations are required to maintain a minimum balance of Rs 10,000. Customers who have savings accounts in rural and semi-urban bank branches will have to maintain an average minimum balance of Rs 5,000 and Rs 2,500 respectively.
IndusInd Bank-
IndusInd Bank customers having their savings accounts in A and B category branches will have to maintain a minimum balance of Rs 10,000 in their savings account.
Customers who have savings accounts in Category C branches will have to maintain a minimum balance of Rs 5,000.
Yes Bank-
If we talk about Yes Bank, customers with Savings Advantage Account have to maintain a minimum balance of Rs 10,000 to avoid fines.
The bank charges non-maintenance charges of up to Rs 500 per month from the customer for not maintaining the minimum balance.
ICICI Bank-
For ICICI Bank customers who have savings accounts in branches located in metro and urban areas, they are required to maintain a minimum balance of at least Rs 10,000. Customers having savings accounts in semi-urban areas and rural areas will have to maintain a minimum amount of Rs 5,000 and Rs 2,000 per month respectively. Customers who have opened regular savings accounts in rural (rural) areas are required to maintain an average balance of Rs 1,000 per month.
Kotak Mahindra Bank-
Customers with Edge Savings Account of Kotak Mahindra Bank will have to maintain a minimum monthly balance of Rs 10,000. If customers do not meet the requirement of maintaining an AMB of Rs 10,000, they have to pay a monthly non-maintenance charge of up to Rs 500. There is no minimum balance requirement in the Kotak 811 savings account offered by the bank.
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