What is the minimum balance in Indian banks?

Overview of Indian Bank Savings Bank

Bank	Indian Bank
Initial Deposit Requirements	Nil
Minimum Amount	Minimum amount for non-cheque operation is Rs.250/- Minimum balance for cheque operation is Rs.500/- Pensioners and bonafide students may have lesser minimum balance
Debit Card Offered	Free ATM cards/Debit cards provided

What is the minimum balance to be maintained in various banks?

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

List of Savings Account Banks	Minimum Balance Required(INR)
Federal Bank	0
HDFC Bank	2500/5000/10000/25000
ICICI Bank	0/1000/2000/2500/5000/10000
IDBI Bank	500/2500/5000

What is the minimum balance?

The minimum balance for a bank account is the minimum dollar amount that must be maintained to receive certain benefits or to keep the account open. Minimum balances can be enforced by charging fees, denying interest payments, or closing the account if the minimum balance is not maintained.

What is Bank maintaining balance?

Do I need to maintain minimum balance limit in SBI savings account?

However, the State Bank of India (SBI) has made it clear in the first fortnight of March 2020 that there is no need to maintain a minimum balance limit in SBI Savings account. So, SBI savings account holders need not worry about maintaining minimum account balance limit from tomorrow.

What is the minimum balance required for indindusind bank privilege savings account?

IndusInd Bank customers who have their Privilege Savings Accounts with Category A and Category B branches need to fulfill a minimum balance requirement of Rs. 10,000. Customers having their savings account in Category C branches are required to fulfill a minimum balance requirement of Rs. 5,000.

Which banks in India are charging for non-maintenance of minimum average balance (Mab)?

Here’s what India’s leading banks, ranging from SBI to HDFC Bank, are charging for non-maintenance of minimum average balance (MAB):

What is minimum balance in savings account?

Minimum Balance: What amount you need to keep in your savings account? People having their savings accounts in various banks have to maintain a certain sum of money in their bank accounts. When this account balance falls below the required threshold amount, the bank levies a penalty on the account holder for failing to meet the requirements.