INSUBCONTINENT EXCLUSIVE:
AMB is the minimum average of deposits required by customers in their savings bank accounts.Banks have mandated regular saving bank account
users to maintain a certain average monthly balance (AMB) in their accounts, failing which they have to bear certain penalty charges
Average Monthly Balance (AMB) is the minimum average of deposits required by the customers in their savings bank accounts
Most of the leading banks of the nation such as State Bank of India (SBI), HDFC Bank, ICICI Bank, Punjab National Bank (PNB) and Axis Bank
have fixed their AMB according to the location of a customer's account in urban, metro, semi-urban and rural areas and charge customers for
non-maintenance of these minimum average balance (MAB) in their savings accounts
with accounts in metro and urban branches to maintain a minimum average balance of Rs 3,000 every month
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 BankHDFC Bank requires customers with accounts in metro and
urban branches to maintain a monthly average balance of Rs 10,000
The monthly average required in semi-urban and rural locations is Rs
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
