What is the minimum balance in Indian bank account?

What is the charge for not maintaining minimum balance in Indian bank?

The service charge for non maintenance of minimum monthly average balance for Savings bank accounts account is `50 per month and the following slab structure for a Page 3 A CO: Development Department 3 levying charges as per percentage of shortfall observed vis a vis actual minimum monthly average balance required is …

Does Indian bank charges for minimum balance?

The minimum balance requirement to open a savings account with Indian Bank is Rs. 250 for non cheque operation and Rs. 500 for cheque operation. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.

Is minimum balance required in Indian bank?

To maintain an Indian Bank Savings account, you require a minimum balance of Rs. 250 for non cheque operation and Rs. 500 for cheque operation. Indian Bank personalized account number and cheque book enhances security and ensures your money is safe.

Which bank has zero minimum balance?

Latest Interest Rate for Zero Balance Savings Account

Bank Name of zero-balance savings account Interest rate
Kotak Mahindra Bank 811 4% to 6%
Standard Chartered Bank Basic Banking Account 0.5% to 4.90%
HDFC Bank Basic Savings Bank Deposit Account 3.50% to 4%
Axis Bank Basic Savings Account 3.50% to 4%
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What is minimum balance in SBI?

SBI, the country’s largest bank, on Wednesday announced a waiver on maintaining the average minimum balance (AMB) requirement for all savings bank accounts. Currently, there is an AMB of ₹ 3,000, ₹ 2,000 and ₹ 1,000 in metro, semi-urban and rural areas, respectively.

Which bank has 1000 minimum balance?

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

List of Savings Account Banks Minimum Balance Required(INR)
Lakshmi Vilas Bank 1000/3000/5000
Oriental Bank of Commerce 0/500/1000
Punjab National Bank 500/1000/2000/50000
Punjab and Sind Bank 500/1000

What is bank minimum balance?

The minimum balance for a bank account is the minimum dollar amount that must be maintained to receive certain benefits or to keep the account open. … Minimum balances can be enforced by charging fees, denying interest payments, or closing the account if the minimum balance is not maintained.

Does Indian Bank have zero balance account?

In addition to no minimum balance, the Indian Bank zero balance account does not have any initial deposit. It means that one can open the savings account without any deposit.

What is the maximum balance in Indian Bank?

❖ The account shall have limitation regarding total credits (should not exceed one lakh rupees in a year), Maximum balance (should not exceed fifty thousand rupees at any time) and the total of debits by way of cash withdrawals and transfers (will not exceed ten thousand rupees in a month).