Minimum Balance Rule: If your account is in State Bank of India (SBI), HDFC (HDFC) or ICICI Bank (ICICI Bank), then this news is useful for you. Many big facilities are given to customers on account opening by nationalized banks.
But to take advantage of these facilities, you also have to take care of some rules and regulations. One day is left for the new financial year to start, in such a situation you should know the minimum average balance rule of the banks. So that you do not face any kind of penalty in the new year.
It is necessary to keep money according to the set limit
If you have an account with any bank, then it is necessary that you must maintain minimum average balance in the account. Under the minimum average balance, you have to maintain the balance fixed by the bank in the account. If you are not able to maintain the balance then penalty is charged by the bank. Every bank sets an average limit, the customer is always required to keep money in the account up to that limit.
The limit of some banks is same.
Banks have their own average minimum balance fixed. However, some banks have the same limit while some have different limits. Here today we will tell you about the minimum balance of the country’s giant banks SBI, ICICI Bank and HDFC Bank.
How much balance is required in SBI?
The minimum balance to be maintained in the State Bank of India (SBI) savings account depends on where you live. The minimum limit in SBI account is from Rs 1,000 to Rs 3,000 depending on the city. For rural areas, it is Rs 1,000, if you have an account in a semi-urban area branch, then you need to keep Rs 2,000 in your account. Apart from this, this limit is Rs 3,000 in Metro City.
Average minimum balance in account for HDFC
The limit of average minimum balance in HDFC depends on your residency. In cities, this limit is Rs 10,000. At the same time, there is a limit of Rs 5,000 in semi-urban areas and Rs 2,500 in rural areas.
Limit of ICICI Bank
The minimum balance has to be maintained in the account of ICICI Bank as same as that of HDFC. Here it is necessary to maintain a limit of Rs 10,000 for urban area account holder, Rs 5,000 for semi-urban and Rs 2,500 for rural area.
The rule of minimum balance is not applicable in some special bank accounts. This type of bank account includes accounts related to Pradhan Mantri Jan Dhan Yojana, Basic Savings Bank Deposit Account, Pensioners’ Savings Account, Salary Account and Minor’s Savings Account.
