INSUBCONTINENT EXCLUSIVE:
Banks also offer accounts which do not require customers to maintain any minimum balance.Banks today require their savings account customers
to maintain a certain average monthly balance (AMB)
From public sector lender State Bank of India (SBI) and Punjab National Bank (PNB) to its private sector peers HDFC Bank and ICICI Bank,
most banks have fixed their own average monthly balance requirements
The requirement depends on the location of a customer's account in urban, metro, semi-urban and rural areas
Banks also charge a penalty from the customers failing to maintain the required average monthly balance in their savings accounts.State Bank
of IndiaCustomers having a regular savings bank account in SBI branches located in metro and urban areas are required to maintain a monthly
3,000, according to the bank's website, sbi.co.in
Customers with SBI accounts in semi-urban and rural branches are required to maintain a minimum average balance of Rs
1,000, respectively.Branch typeAverage monthly balanceMetroRs
1,000(Source: sbi.co.in)Punjab National BankCustomers having a regular savings bank account in Punjab National Bank (PNB) branches located
in 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
2,000(Source: pnbindia.in)HDFC BankCustomers having a regular savings account in HDFC Bank branches located in metro and 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)ICICI BankCustomers having a regular savings account in ICICI Bank branches located in metro and urban areas 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
1,000 respectively.Branch typeAverage monthly balanceMetroRs
2,000GraminRs.1,000(Source: icicibank.com)Banks also offer savings accounts which do not require customers to maintain any particular
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