SBI, PNB, HDFC, ICICI and YES Bank customers will now have to maintain this much minimum balance, know the rules..

Bank account rules: People keep their savings in the bank account. Apart from this, a bank account is needed for many other tasks. Therefore, the bank account must continue smoothly.

Nowadays, the rule of maintaining minimum balance (RBI minimum balance rules) is applicable to account holders in almost all banks. If this minimum balance amount is not maintained in the account, then the bank also imposes a fine. If your account is in any of SBI, PNB, HDFC, ICICI, and YES Bank, then know how much minimum balance (minimum balance ke niyam) you will have to maintain now.

Minimum balance rule in SBI -

The account holder does not need to maintain a minimum balance (SBI Minimum balance limit) in the SBI bank account. Now this bank has removed the minimum balance limit on a savings account. That is, no charge or penalty (SBI Minimum balance penalty rules) is levied by SBI (State Bank of India) for not maintaining the minimum balance. This rule was abolished in the year 2020 itself.

HDFC Bank rule -

- The rule of maintaining a minimum monthly average balance (HDFC Minimum balance rules) in HDFC Bank is decided according to the type of account and the area of ​​the account. Account holders of metro and urban areas have to keep a minimum balance of Rs 10,000 in the account. In semi-urban areas, this limit is up to Rs 5,000 or the account holder will have to keep an FD of Rs 50,000 (HDFC fixed deposit rules). HDFC Bank charges this much -

If the balance is less than the minimum, the bank charges 6 percent of the shortfall in the average monthly balance (HDFC minimum balance limit) or Rs 600, whichever is less, as a penalty. If HDFC metro and urban area account holders do not maintain a minimum balance of Rs 10,000 in their account (HDFC Minimum balance rules), then they will have to keep a one-year and one-day FD of Rs 1 lakh.

Rules for ICICI Bank account holders -

ICICI Bank account holders have to maintain a minimum balance of Rs 5,000 on average every month. If this is not done, a penalty of 5 percent of the shortfall in the required minimum average balance (ICICI Minimum balance limit) including Rs 100 is levied on the customer.

Rules of Punjab National Bank -

PNB also has a rule of maintaining a minimum balance (PNB Minimum balance limit) according to the type of account and area. The minimum balance (PNB Minimum balance rules) is required to be Rs 500 in rural area accounts, Rs 1000 in semi-urban area accounts, and Rs 2000 in urban and metro area accounts. For not maintaining this minimum balance, Rs 400 is charged as a penalty on accounts in rural areas, Rs 500 on semi-urban area accounts, and Rs 600 on accounts in urban and metro areas (PNB Minimum balance penalty) by the bank.

This is the minimum balance rule in Yes Bank-

Yes Bank has a different rule regarding minimum balance charges (Yes Bank Minimum balance charges). If the amount in the account of this bank is between 50 percent to 100 percent of the required minimum balance, then a shortfall charge of 5 percent is levied. If this amount is less than 50 percent, then the shortfall charge doubles i.e. 10 percent (Yes bank Minimum balance penalty). From time to time, banks also keep changing their rules.

No tension of minimum balance in zero balance account -

Nowadays, the hassle of maintaining a minimum balance can be avoided by opening a zero-balance account. Many banks provide this facility to customers. Apart from this, there is no need to maintain a minimum balance in the salary account (salary account rules).

This is the fine for not maintaining a minimum balance -

Every bank (bank rules for minimum balance) charges and penalties as per its own rules for not maintaining minimum balance. It can range from Rs 100 to Rs 500 per month (fine on having no minimum balance). According to RBI, if there is no minimum balance in the account, the bank can make the account zero by imposing a fine or penalty but cannot make it minus. The account holder can close his account (bank account rules) without paying any charge.:

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.