Minimum Balance Stored in Banks
Dear Madam / Sir,
Could you please be kind enough to update me on:
What is the minimum balance to be maintained in the Savings Bank Account of an individual in Urban Area?
Secondly does minimum balance maintenance differs from Bank to Bank? more
Could you please be kind enough to update me on:
What is the minimum balance to be maintained in the Savings Bank Account of an individual in Urban Area?
Secondly does minimum balance maintenance differs from Bank to Bank? more
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Please note that certain banks have accounts which do not require a min balance and are known as zero balance accounts. Lately Axis bank, Yes bank and Kotak have come out with such accounts. Some banks also provide zero balance accounts for Sr citizens. Check with your bank and if required change the bank. more
Apr 08
Every bank has its own policy regarding maintaining minimum balance in savings as well as current account. Even nationalised banks have different policy in this regard and private banks have their own conditions for maintaining minimum balance in account. It is better to discuss with your banker. more
Apr 07
It varies from Bank to Bank along with age of the account holder. Presently it is in the range of Rs. 1,000 to 10,000.Banks waive it also for some important customers. more
Apr 07
Different banks have set different minimum balance requirement depending on types of account, branch location and age criteria. You need to visit your branch or check from bank website. more
Apr 07
For SBI, it is 3000. Yes, it may vary from bank to bank or types of account in the same bank. Now many banks are offering savings accounts without minimum balance restriction - for example 811 from Kotak Bank. more
Apr 07
