INSUBCONTINENT EXCLUSIVE:
The amount of penalty varies across banks on the basis of branch location.Leading banks of the country such as State Bank of India (SBI),
ICICI Bank, HDFC Bank, PNB Bank, among others, charge customers for non-maintenance of average monthly balance (AMB) in their savings
Average Monthly Balance (AMB) is the minimum average of deposits required by the customers in their savings bank accounts
Customers failing to meet the AMB requirements in a month have to bear these penalty charges
urban centres are required to maintain an average monthly balance of Rs 3,000
Customers who maintain a balance equal to or less than 50 per cent of the required monthly balance are charged Rs10 per month plus the
applicable GST (Goods and Services Tax) rate.Metro and urban branch (required MAB Rs 3,000)ChargesShortfall 50-75%Rs
12 + GSTShortfall > 75%Rs
7.50 + GSTShortfall > 75%Rs 10 + GST(As mentioned on SBI's website)HDFC Bank:Customers with a regular savings account in HDFC Bank
branches located in metro and urban areas are required to maintain an average monthly balance of Rs
The AMB required in semi-urban and rural locations is Rs
The lender charges Rs 150 if the amount in savings account is less than Rs
RequirementsMetro / Urban branches: AMB Rs.10,000/-,Semi-Urban Branches: AMB Rs.5,000/- ,Rural Branches: AQB Rs.2,500/- or Fixed Deposit of
5,000/-gt;=7,500 to < 10,000Rs
150/-NAgt;=5,000 to < 7,500Rs
300/-NAgt;=2,500 to < 5,000Rs
Branchesgt;= 1000 < 2,500Rs
