You Need This Much Balance In Your Savings Account To Avoid Penalty Charges

Major banks today require their customers to maintain a certain minimum balance in their savings accounts in order to avoid penalty charges. From public sector lender State Bank of India (SBI) to its private sector peers ICICI Bank and HDFC Bank, the top banks have laid out their own rules to determine the required average monthly balance - which is an average of daily balances in the account in a month. The amount of penalty in case...