INSUBCONTINENT EXCLUSIVE:
Customers failing to meet the MAB requirements in a month have to bear certain penalty charges.Regular savings accounts in banks require
customers to maintain a certain minimum average balance (MAB) every 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 in urban, metro, semi-urban and rural areas, among other factors
Customers failing to meet the MAB requirements in a month have to bear certain penalty charges
The amount of penalty varies on the basis of branch location.State Bank of India (SBI)SBI customers with accounts in metro and urban
branches are required to maintain a minimum average balance of Rs 3,000 every month
Customers with accounts in semi-urban branches are required to maintain an MAB of Rs 2,000, and those with accounts in rural branches are
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 website)HDFC BankCustomers with a regular savings account in HDFC Bank branches
located in metro and urban areas are required to maintain a monthly average balance of Rs 10,000
The monthly average required in semi-urban and rural locations is Rs
have to bear the following penalty charges:Description of ChargesRegular Savings 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
