Banks also offer savings accounts which do not require to maintain any particular minimum balanceRegular savings bank accounts require customers to maintain a certain average monthly balance (AMB).

Top banks such as SBI or State Bank of India and HDFC Bank have fixed their average monthly balance requirements according to the location of a customer's account in urban, metro, semi-urban and rural areas.

Banks also charge a penalty from customers who fail to maintain an average monthly balance in their savings account.

The penalty varies according to various factors such as location of branch.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 a monthly average balance of Rs.

3,000, according to the bank's portal, sbi.co.in.

Customers with SBI savings accounts in semi-urban and rural branches are required to maintain a minimum average balance of Rs.

2,000 and Rs.

1,000, respectively.

Customers failing to meet these requirements have to pay the following charges:Metro and urban branch (required AMB Rs 3,000)ChargesShortfall <= 50%Rs.

10 + GSTShortfall > 50-75%Rs.

12 + GSTShortfall > 75%Rs.

15 + GSTSemi-urban branch (required AMB Rs 2,000)Shortfall <= 50%Rs 7.50 + GSTShortfall > 50-75%Rs 10 + GSTShortfall > 75%Rs.12 + GSTRural (required AMB Rs 1,000)Shortfall <= 50%Rs 5 + GSTShortfall > 50-75%Rs.

7.50 + GSTShortfall > 75%Rs 10 + GST(As mentioned on SBI's official website)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 portal, hdfcbank.com.

In semi-urban branches, the regular savings account holders are required to maintain an average balance of Rs.

5,000 every month.

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.

Customers failing to meet these requirements have to pay the following charges:Description of ChargesRegular Savings AccountMinimum Average Balance RequirementsMetro and urban branches: AMB Rs 10,000Semi-urban branches: AMB Rs 5,000Rural branches: AQB Rs 2,500 or fixed deposit of Rs 10,000 for minimum a period of 1 year 1 dayCharges applicable on non-maintenanceBalance non-maintenance chargesAMB Slabs Metro - UrbanSemi Urban(in Rs.)AMB Requirement -Rs 10,000AMB Requirement -Rs.

5,000>=7,500 to < 10,000Rs 150NA>=5,000 to < 7,500Rs 300NA>=2,500 to < 5,000Rs.

450Rs.

1500 to < 2,500Rs.

600Rs.

300plus taxes as applicable AMB – average monthly balanceAQB Slabs (in Rs.)Balance non-maintenance charges (per quarter) - rural branches>= 1000 < 2,500Rs.

2700 - <1000Rs.

450plus taxes as applicable AQB – average quarterly balanceGet Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.

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