Minimum balance you need to maintain in 4 key Indian Banks

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Minimum balance you need to maintain in 4 key Indian Banks
Minimum balance you need to maintain in 4 key Indian Banks

New Delhi : State Bank of India (SBI), ICICI Bank, HDFC Bank, Punjab National Bank (PNB) are the 4 key banks which operate in India. The banks have fixed their Average Monthly Balance (AMB) depending upon the location of the customer.

The customers who fail to maintain a minimum balance in their accounts are charged with a little penalty. Here is all you need to know about it.

What is Average Monthly Balance (AMB)?

It is the minimum average of the deposits customers are required to maintain in their regular savings account.

AMB for State Bank of India

The State Bank of India customers from urban areas are required to maintain a minimum balance of Rs 3000 per month. Customers with accounts in semi-urban areas are required to maintain an average monthly balance of Rs. 2,000. For rural areas, the amount comes down to Rs 1000 per month.

AMB for ICICI Bank

Customers with a regular savings account in ICICI Bank branches located in metro and urban areas need to maintain an average monthly balance of Rs. 10,000. The AMB required in semi-urban, rural and gramin locations is Rs. 5,000, Rs. 2,000 and Rs. 1,000 respectively.

AMB for HDFC Bank

Customers with a regular savings account in HDFC Bank branches located in metro and urban areas are required to maintain an average monthly balance of Rs. 10,000. The AMB required in semi-urban and rural locations is Rs. 5,000 and Rs. 2,500 respectively.

AMB for Punjab National Bank (PNB)

Customers with a regular savings bank account in PNB located in metro, urban, semi-urban areas are required to maintain a minimum quarterly average balance of Rs. 2,000. The AMB required in semi-rural locations is Rs. 1,000.