Here's How Much Minimum Balance You Need To Maintain In Your Bank Account

INSUBCONTINENT EXCLUSIVE:
Customers failing to meet the AMB requirements in a month have to bear certain penalty charges.State Bank of India (SBI), ICICI Bank, HDFC
Bank, Punjab National Bank (PNB), among other leading banks of the country have fixed their average monthly balance (AMB) requirements
according to the location of a customer's savings account in urban, metro, semi-urban and rural areas
Average Monthly Balance (AMB) is the minimum average of deposits required by the bank customers in their regular savings bank accounts
Customers failing to meet the AMB requirements in a month have to bear certain penalty charges.Here's a comparison of the average monthly
balance in SBI, ICICI Bank, HDFC Bank and Punjab National Bank (PNB):State Bank of India (SBI)SBI customers who have accounts in metro and
urban centres are required to maintain an average monthly balance of Rs
3,000
Customers who maintain a balance equal to or less than 50 per cent of the required monthly balance are charged Rs10 per month plus the
applicable GST (Goods and Services Tax) rate.Customers with accounts in semi-urban areas are required to maintain an average monthly balance
of Rs
2,000
If the balance falls short by up to or less than 50 per cent of the required AMB, SBI charges Rs
12 + GSTShortfall > 75%Rs
branches located in metro and urban areas need to maintain an average monthly balance of Rs
10,000
balanceMetroRs
10,000UrbanRs
10,000Semi-urbanRs
5,000RuralRs
2,000GraminRs.1,000(As mentioned on ICICI Bank's website)HDFC BankCustomers with a regular savings account in HDFC Bank branches located in
10,000UrbanRs
10,000Semi-urbanRs
5,000RuralRs
2,500(Source: hdfcbank.com)Punjab National Bank (PNB)Customers with a regular savings bank account in PNB located in metro, urban,
semi-urban areas are required to maintain a minimum quarterly average balance of Rs
2,000
The AMB required in semi-rural locations is Rs 1,000.Branch TypeMinimum Qly
Average BalanceRuralRs 1000/-Semi- UrbanRs 2000/-UrbanRs 2000/-MetropolitanRs 2000/-(As mentioned on PNB's website)However, there are
certain accounts where AMB rules are not applicable
These accounts are called as zero balance savings accounts.