INSUBCONTINENT EXCLUSIVE:
The MAB requirements depend on location of a customer's account.Most commercial banks in the country have fixed their monthly average
balance (MAB) requirements
MAB is an average of the end-of-day (EoD) closing balances in a month
The MAB requirements depend on the location of a customer's account in urban, metro, semi-urban and rural areas
Banks such as State Bank of India (SBI), HDFC and ICICI Bank charge a penalty from the customers failing to maintain the required monthly
average balance in their savings accounts
The amount of penalty in case of non-compliance varies in different branch locations, based on factors such as the degree of shortfall.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
respectively.Branch typeAverage monthly balanceMetroRs
1,000(Source: sbi.co.in)HDFC BankCustomers having a regular savings account in HDFC Bank branches located in metro and urban areas are
10,000 for a maturity period of a minimum one year and one dayBranch typeAverage monthly balanceMetroRs
2,000GraminRs.1,000(Source: icicibank.com)These banks also offer certain savings account which do not require customers to maintain any
particular minimum balance.These are known as zero balance savings accounts.Get Breaking news, live coverage, and Latest News from India and
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