INSUBCONTINENT EXCLUSIVE:
Customers having a regular savings account in Yes Bank branches need to maintain an AMB of Rs 10,000.Most of the leading banks in the
country charge customers for non-maintenance of monthly average balance (MAB) in their savings accounts
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
State-run SBI (State Bank of India) to private sector lenders HDFC Bank and ICICI Bank- have fixed their monthly average balance
requirements according to the location of a customer's account in urban, metro, semi-urban and rural areas, among other factors.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, said the country's largest lender on its official website - 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 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 having a regular savings account in HDFC Bank
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/->=7,500 to < 10,000Rs
150/-NA>=5,000 to < 7,500Rs
300/-NA>=2,500 to < 5,000Rs
Branches>= 1000 < 2,500Rs
