Minimum Balance Rules: Here's How Much Top Banks Charge For Non-Compliance

Most of the banks in the country require customers to maintain a certain Monthly Average Balance or MAB in their savings bank accounts, failing which they have to bear certain penalty charges. 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. 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 and charge customers for non-maintenance of minimum average balance in their savings accounts..(Also read: Transaction Charges On ATM-Cum-Debit Cards Levied By Top Banks).Given below are the AMB requirements and penalty charges levied for non-maintenance of AMB by SBI, HDFC Bank, ICICI Bank and Kotak Mahindra Bank:.State Bank of India (SBI).Customers with a regular savings account in SBI branches located in metro and urban areas need to maintain a monthly average balance of Rs 3,000, according to the bank's website - sbi.co.in. Customers with accounts in semi-urban branches and rural branches are required to maintain an MAB of Rs 2,000 and Rs 1,000 respectively, noted SBI..Customers failing to meet the MAB requirements have to bear the following penalty charges:.table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } table td:last-child, table th:last-child { border-right: none; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table, thead, tbody, th, td, tr { font-size: 14px; } table th { padding: 4px; } table td { padding: 4px; } table th:nth-child(1), table td:nth-child(1), } } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Metro and urban branch (required MAB Rs 3,000) Charges Shortfall 50-75% Rs. 12 + GST Shortfall > 75% Rs. 15 + GST Semi-urban branch (required MAB Rs 2,000) Shortfall 50-75% Rs 10 + GST Shortfall > 75% Rs.12 + GST Rural (required MAB Rs 1,000) Shortfall 50-75% Rs. 7.50 + GST Shortfall > 75% Rs 10 + GST .(As mentioned on SBI's official website).HDFC Bank.Customers with a regular savings account in HDFC branches located in metro and urban areas need to maintain a monthly average balance of Rs 10,000, according to the bank's website - hdfcbank.com. Customers with accounts in semi-urban branches and rural branches are required to maintain an MAB of Rs 5,000 and Rs 2,500 respectively..Customers failing to meet the MAB requirements have to bear the following penalty charges:. Description of Charges Regular Savings Account Minimum Average Balance Requirements Metro / Urban branches: AMB Rs.10,000/-, Semi-Urban Branches: AMB Rs.5,000/- , Rural Branches: AQB Rs.2,500/- or Fixed Deposit of Rs. 10,000 for minimum 1 year 1 day period Charges applicable on non-maintenance Balance Non-Maintenance Charges* AMB Slabs Metro & Urban Semi Urban (in Rs.) AMB Requirement -Rs 10,000/- AMB Requirement –Rs. 5,000/- >=7,500 to =5,000 to =2,500 to = 1000 < 2,500 Rs. 270/- 0 - <1000 Rs. 450/- *plus taxes as applicable AQB – Average Quarterly Balance .table.shdl_table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.shdl_table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.shdl_table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } table.shdl_table th { padding: 4px; } table.shdl_table td { padding: 4px; } table.shdl_table th:nth-child(1), table.shdl_table td:nth-child(1), table.shdl_table th:nth-child(6), table.shdl_table td:nth-child(6) { displayx: none; } } /*Media Query END*/ . (As mentioned on HDFC Bank's official website) ICICI Bank Customers with a regular savings account in ICICI Bank branches located in metro and urban areas need to maintain a monthly average balance of Rs 10,000, according to the bank's website - icicibank.com. Customers with accounts in semi-urban branches and rural branches are required to maintain an MAB of Rs 5,000 and Rs 2,500 respectively. Customers failing to meet the MAB requirements have to bear the following penalty charges: Minimum monthly average balance (MAB)* Metro and Urban locations - Rs.10,000 Semi-urban locations - Rs.5,000 Rural locations - Rs 2,000 Gramin locations - Rs.1,000 Charges for non maintenance of minimum monthly average balance (NMMAB) Metro/Urban/Semi-Urban/Rural locations : Rs. 100 + 5% of the shortfall in required MAB Gramin locations : 5% of the shortfall in required MAB .table.shdl_table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.shdl_table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.shdl_table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } table.shdl_table th { padding: 4px; } table.shdl_table td { padding: 4px; } table.shdl_table th:nth-child(1), table.shdl_table td:nth-child(1), table.shdl_table th:nth-child(6), table.shdl_table td:nth-child(6) { displayx: none; } } /*Media Query END*/ . (As mentioned on ICICI Bank's official website) .Kotak Mahindra Bank.Customers with a regular savings account in Kotak Bank branches located in metro and urban areas need to maintain a monthly average balance of Rs 10,000, according to the bank's website - kotak.com..Customers failing to meet the MAB requirements have to bear the following penalty charges:.table.kotak-bank { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.kotak-bank th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.kotak-bank td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.kotak-bank th:nth-child(1), table.kotak-bank td:nth-child(1) { width: 40%; text-align: left; } table.kotak-bank th:nth-child(1){ width: 40%; text-align: center; } table.kotak-bank th:last-child, table.kotak-bank td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.kotak-bank { display: table; min-width: 280px; max-width: 100%; } table.kotak-bank th, table.kotak-bank td, table.kotak-bank th:nth-child(n+1), table.kotak-bank td:nth-child(n+1) { display: table-cell; line-height: normal; padding:5px; font-size:14px; } . Particulars Charges NMC (Non Maintenance Charges) If AMB 25% 50% 75% of required Product AMB but less than product AMB Rs.150 .However, there are certain accounts where MAB rules are not applicable. These accounts are called as zero balance savings accounts.

Minimum Balance Rules: Here's How Much Top Banks Charge For Non-Compliance

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