INSUBCONTINENT EXCLUSIVE:
MAB is the sum of all EOD closing balance divided by the number of days in that month.Most of the banks in the country require customers to
maintain a certain Monthly Average Balance or MAB in their savings bank accounts, failing which they have to bear certain penalty charges
Monthly Average Balance (MAB) is the sum of all the end of day (EOD) closing balance divided by the number of days in that month
Leading lenders such as State Bank of India (SBI), HDFC Bank, ICICI Bank and Kotak Mahindra Bank have fixed their monthly average balance
requirements according to the location of a customer's account and charge customers for non-maintenance of minimum average balance in their
noted SBI.Customers failing to meet the MAB requirements have to bear the following penalty charges: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 official website)HDFC BankCustomers with a regular savings account in HDFC
AccountMinimum Average Balance RequirementsMetro / Urban branches: AMB Rs.10,000/-,Semi-Urban Branches: AMB Rs.5,000/- ,Rural Branches: AQB
Rs.2,500/- or Fixed Deposit of Rs
5,000/->=7,500 to < 10,000Rs
150/-NA>=5,000 to < 7,500Rs
300/-NA>=2,500 to < 5,000Rs
Branches>= 1000 < 2,500Rs
