INSUBCONTINENT EXCLUSIVE:
Customers failing to meet the MAB requirements have to bear certain penalty charges.Most of the banks across the country require customers
to maintain a monthly average balance (MAB) in their regular 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 lender HDFC Bank- both have fixed a certain monthly average balance
Customers failing to meet the MAB requirements have to bear certain penalty charges.State Bank of India (SBI)Customers with a regular
according to SBI's official website - sbi.co.in
Customers who have a savings accounts in semi-urban and rural branches of SBI 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
official website - hdfcbank.com
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/-gt;=7,500 to < 10,000Rs
150/-NAgt;=5,000 to < 7,500Rs
300/-NAgt;=2,500 to < 5,000Rs
Branchesgt;= 1000 < 2,500Rs
