Minimum Balance: RBI has made rules regarding minimum balance in bank account, know more..

Minimum balance rules: To operate a bank account properly, a minimum balance has to be maintained in it (RBI Minimum Balance Rules). Not maintaining this amount is financially costly for the account holder. If the minimum balance is not maintained, the bank immediately charges.

In such a situation, many people are also in doubt about whether the account will go into minus due to continuous charges (charges on no minimum balance). RBI has set new rules regarding the minimum balance in a bank account. Every account holder needs to know about them.

This is how the charge is levied-

If a customer does not have a minimum balance in his account (minimum balance ke niyam), then while imposing the penalty, it is also seen in which area the said account is in the bank. Banks charge accordingly. More charges are levied on accounts in urban areas and less on accounts in rural areas. Every bank has fixed an amount of minimum balance (minimum balance update rules) according to its own. If the balance in the account is less than this amount, a charge is levied.

This will be the responsibility of the banks -

If there is no minimum balance in a customer's account, then it will be the responsibility of the banks (bank news) to inform the account holder by sending an SMS email or letter. According to RBI, if the balance is not maintained by the account holder within a month (how to maintain minimum balance), then the banks have been instructed to impose a penalty. That is, the bank can impose a penalty after informing the customers.

This is how the slab is made for the charge -

Slabs (slabs for minimum balance) are also created by the banks to impose charges (charges on not maintaining minimum balance) on not maintaining the minimum balance in the account. According to RBI, the penalty amount will be imposed in the same proportion as the amount shortfall in maintaining the minimum balance. For this, slabs are also made by the banks.

The charge is less than the average cost, it is also seen that this penalty should not put the account of any account holder in minus if there is no minimum balance in the account (minimum balance new rules). Banking sector experts say that if there is no minimum balance, the amount in the account can become zero but it cannot be put in minus (minus account). Nor can this amount be recovered by the bank while closing the account.

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