Answer ( 1 )

  1. In my experience, most banks in India have a long list of conditions that need to be met by the customers. Having a minimum balance in the account is one of them. I have daydreamed about spending that money and taking my account balance to NIL. I will tell you what will happen if minimum balance is not maintained.
    Pay You Water/Electricity/Piped Gas Bills via NoBroker and Get Assured Cashback!
    Get home loans at the lowest interest rate from NoBroker and avoid hefty paperwork
    What happens if minimum balance is not maintained?
    If the minimum balance is not maintained then, the account holder is penalised. A fee will be incurred for the non-maintenance. Usually, the charges vary from bank to bank, even branch to branch.
    Though, the banks don't penalise the account holders for this every day. It only happens Month end ke time when the monthly average balance is calculated. Those who have high net worth are charged more in comparison to those who don't. This fee is also known as the non-maintenance of funds fee.

    The non-maintenance fee is higher for accounts in urban areas than in semi-urban and rural areas. The fee details are given below.

    Area Fee
    Metro/urban Rs. 350 or Rs. 5 for every 100 rupees shortfall whichever is lower
    Semi-urban Rs. 350 or Rs. 5 for every 100 rupees shortfall whichever is lower.
    Rural Rs. 750 or Rs. 5 for every 100 rupees shortfall whichever is lower every 6 months.

    This is all from my end on what happens if minimum balance is not maintained.
    Read more :
    can bank charge for not maintaining minimum balance
    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?


    Book Best Packers & Movers with Best Price, Free Cancellation, Dedicated Move Manager

    Get Rental Agreement With Doorstep Delivery, Super Quick & Easy

    This is third

    This is third

    This is fourth

    This is fourth

    This is fifth

    This is fifth

    This is six

    This is six

    This is seven

    This is seven

    This is eight

    This is eight



Leave an answer

Questions for you