Can bank charge for not maintaining minimum balance ?

Hey friend, I remember the day I got back-to-back calls from my bank. In a frantic hurry, I asked them what was wrong. The customer care representative told me that I had incurred a charges for not maintaining minimum balance. To my surprise, I was unaware of this charge before. Keep reading to know more. Check out NoBroker Home Loan services to get a loan against your dream house. Calculate your loan EMI with a simple click. Check out NoBroker EMI calculator today! Can bank charge for not maintaining minimum balance? Most banks have a rule that account holders need to maintain a minimum balance in their accounts. Each bank and bank branch sets its MAB ( Minimum account balance) requirement. To give you an example, Axis Bank and Kotak Mahindra Bank charge a penalty based on the type of account each person has. Whereas, the Bank of Maharashtra and other state banks have set the minimum balance at Rs 2,000.   What is non -maintenance charges? It is a maintenance fee set by the bank wherein the saving account needs to have the minimum account balance. The non - maintenance fee can be up to Rs 75 - every month! Certain banks offer their customers a zero balance account where they don't need to maintain a monthly and a quarterly minimum balance. This is all from my end on the topic of ‘charges for not maintaining minimum balance’. Read more : how much fine for not maintaining minimum balance in sbi What is the minimum balance in Indian bank ? How much HDFC Charges for Not Maintaining Minimum Balance? What happens if minimum balance is not maintained What is bulk charges in Indian bank ?