INSUBCONTINENT EXCLUSIVE:
Banks charge a penalty from customers who fail to maintain an average monthly balanceRegular savings bank accounts require customers to
maintain a certain average monthly balance (AMB) every month
Leading banks such as State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and ICICI Bank have fixed their monthly average
balance requirements according to the location of a customer's account in urban, metro, semi-urban and rural areas
Banks charge a penalty from customers who fail to maintain an average monthly balance in their savings account
The penalty varies according to various factors such as the location of branch.Here's a comparison of the average monthly balance
requirement in SBI, PNB, ICICI Bank and HDFC Bank:State Bank of India (SBI)Customers having a regular savings bank account in SBI branches
located in metro and urban areas are required to maintain a monthly average balance of Rs
3,000, according to the bank's website - sbi.co.in
Customers with SBI savings accounts in semi-urban and rural branches are required to maintain a minimum average balance of Rs
1,000, respectively.Branch typeAverage monthly balanceMetroRs
metro, urban, semi-urban areas are required to maintain a minimum quarterly average balance of Rs
2,000, according to the bank's website - pnbindia.in
Customers with savings accounts in rural branches are required to maintain a minimum balance Rs
1,000.Branch TypeMinimum Quarterly Average BalanceRuralRs 1,000Semi- UrbanRs
need to maintain an average monthly balance of Rs
10,000, according to the bank's website - icicibank.com
The average monthly balance required in semi-urban, rural and gramin locations is Rs
urban areas are required to maintain an average monthly balance of Rs
10,000, according to the bank's website - hdfcbank.com
In semi-urban branches, the regular savings account holders are required to maintain an average balance of Rs
In rural branches, the customers are required to either maintain an average quarterly balance of Rs
2,500 or set up a fixed deposit of Rs
10,000 for a maturity period of a minimum one year and one day.Branch typeAverage monthly balanceMetroRs
2,500(Source: hdfcbank.com)However, banks also provide several savings accounts which do not require the customer to maintain any particular
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