Minimum Balance Rule in Banks: How Much You Need to Maintain in HDFC, SBI, ICICI, Kotak Mahindra and Others
Minimum Balance Rule in Banks: How Much You Need to Maintain in HDFC, SBI, ICICI, Kotak Mahindra and Others
Your one-stop guide to monthly and quarterly balance requirements across major public and private sector banks in India.
The minimum balance requirement, or minimum account balance (MAB), is the lowest amount a customer must keep in their savings account to avoid penalties. The amount varies by bank, type of savings account, and branch location (Metro/Urban, Semi-Urban, or Rural).
ICICI Bank on Thursday announced a rollback of its recent decision to hike the minimum average monthly balance (MAB) for certain savings accounts to Rs 50,000. The private sector lender has now reduced the MAB requirement to Rs 15,000.
Key Minimum Balance Requirements
- HDFC Bank – Urban: ₹10,000/month or FD ₹1 lakh (1 year 1 day)
Semi-Urban: ₹5,000/month or FD ₹50,000
Rural: ₹2,500/quarter or FD ₹25,000 - Kotak Mahindra Bank – ₹10,000–₹20,000/month depending on account type; 6% penalty on shortfall
- State Bank of India (SBI) – Zero minimum balance for Savings and Savings Plus accounts
- Axis Bank – ₹10,000/month (all branches) or FD ₹50,000; Priority Savings Account: ₹2 lakh/month, 6% penalty on shortfall
- Union Bank of India – Metro/Urban: ₹1,000/quarter; Semi-Urban: ₹500; Rural: ₹250
- Punjab National Bank (PNB) – Metro: ₹10,000/month; Urban: ₹5,000; Semi-Urban: ₹2,000; Rural: ₹1,000
- Bank of Baroda – Metro: ₹2,000/quarter; Semi-Urban: ₹1,000; Rural: ₹500
- Canara Bank – No minimum balance requirement (waived for all SB accounts)
- IDBI Bank – Metro/Urban: ₹10,000/month; Semi-Urban: ₹5,000; Rural: ₹2,500; Rural FI branches: ₹1,000
- Yes Bank – Basic account: Zero balance; Savings PRO: ₹10,000/month; PRO Plus: ₹25,000/month (FD option: 5× MAB)
- Indian Bank – Metro/Urban: ₹2,500 with cheque, ₹1,000 without; Semi-Urban/Rural: ₹1,000 with cheque, ₹500 without
- ICICI Bank – New revised rates from September 1:
Metro/Urban: ₹15,000/month
Semi-Urban: ₹7,500/month
Rural: ₹2,500/month
