Any bank’s savings account holders enjoy a number of benefits, including interest on funds, security, and convenience. However, there are some terms and conditions that bank savings account user has to be aware of before using all these services. A specific balance on their savings account must be maintained by the account holder. For the majority of banks, this minimum sum is unchanged, however it could be different for individual banks.
Here is the minimum amount a count holder must keep on their account in different banks.
Minimum Balance in SBI Bank Savings Account
The minimum balance amount in SBI bank differs from the account holder’s residency. The SBI account holder must maintain an Average Minimum Balance (AMB) of Rs. 1000 monthly in rural areas. In semi-urban areas, the AMB is Rs.2000, and in the metro city, the account holder has to maintain an AMB of Rs. 3000. SBI has the lowest AMB requirement in savings accounts among the banks in this list
Minimum Balance in HDFC Bank Savings Account
The AMB of HDFC bank also differs according to the account holder’s residency. An HDFC bank account holder has to maintain a deposit of Rs. 10,000 monthly in urban areas. In semi-urban areas, the AMB is Rs. 5,000; in rural areas, the AMB is Rs. 2,500.
Minimum Balance in ICICI Bank Savings Account
ICICI Bank has the same AMB for a savings account as HDFC bank. In ICICI bank, the account holder has to maintain an AMB of Rs. 10,000 in metro cities; in semi-urban cities, the AMB is Rs. 5,000; in rural areas, the AMB of the savings account holder is Rs. 2,500.
Minimum Balance in Axis Bank Savings Account
This year Axis bank has hiked its AMB for account holders in Metro stations. The AMB for the account holders of Axis bank living in metro cities is Rs. 12,000. In semi-urban areas, the AMB is Rs. 5,000; in rural areas, the AMB is Rs.2,500 for a savings account. Axis bank has the highest AMB for savings account holders in Metro cities among this list of banks.
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