SBI, PNB, HDFC and ICICI bank customers will now be fined this much for not maintaining minimum balance, know the rules..

Minimum Balance Limit: Bank account holders are required to maintain a minimum balance in their account to continue. If this minimum balance is not there in the account, then the bank charges on it.

Now SBI, PNB, HDFC, and ICICI Bank have also set rules regarding minimum balance. If the bank account holder does not keep this amount in his account, then a penalty will be charged to him. If you are also a customer of any of these banks, then definitely know these rules.

Rules for SBI account holders

If the savings account of SBI i.e. State Bank of India is in a big city, then those customers will have to keep Rs 3000 (SBI minimum balance limit) in their account as minimum balance. If you have an account in this bank in small cities, then you must keep a minimum balance of Rs. 2000 and if you have an account in a rural bank branch, then you must keep a minimum balance of Rs. 1000.

Rule of Punjab National Bank

Punjab National Bank has fixed a minimum balance limit of Rs. 2000 (PNB minimum balance limit) for those account holders whose accounts are in branches of big cities. In bank branches in rural areas, you must keep a minimum balance of Rs. 1000.

Limit for HDFC bank account holders.

HDFC's rule is that account holders of big cities must keep a minimum balance of Rs. 10,000 (HDFC minimum balance limit). Those who have an account in small cities or rural areas must keep a minimum balance of Rs. 2500 to Rs. 5000 in their bank accounts.

Rules for ICICI Bank account holders

If you are an account holder of ICICI Bank (ICICI minimum balance limit) and have opened an account in a big city, then you will have to keep Rs 10,000 in your account as a minimum balance. Apart from this, those who have an account in semi-urban areas will have to keep Rs 2500 to Rs 5000 as the minimum balance (minimum balance limit in ICICI).

Otherwise the bank can impose a penalty. This penalty can be taken if there is money deposited in the account. Account holders of the rural areas branches of this bank will have to keep at least Rs 1000 in their account.

Penalty charges are different.

If a savings account is not opened with zero balance, then it is necessary to keep a minimum balance (rules for minimum balance) to continue and maintain the account. All the banks have determined different minimum balance amounts and have also determined a separate penalty if this amount is not in the account. A penalty charge of Rs 100 to Rs 600 per month can be taken from the customer as penalty charges for accounts.

This bank does not charge any charges.

If there is no minimum balance amount in the savings account, then State Bank of India will not charge any penalty. This bank has removed this rule for savings accounts. Apart from this, different penalty amounts have been fixed by other banks for not maintaining minimum balance.

Know about zero balance account.

Let us tell you that zero balance account can be opened in many banks. It is not necessary for this account that your bank has a minimum balance rule.

Even if there is not a single rupee in such an account, the account remains active and no penalty is charged. However, one should keep transacting with the bank from time to time so that the account remains active.

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.