SBI vs HDFC Bank vs ICICI Bank vs PNB vs Axis Bank: Here's how much minimum balance you need to maintain in savings account

Here is how much monthly average balance a customer of State Bank Of India, HDFC Bank, ICICI Bank, Punjab National Bank and Axis Bank is expected to maintain in the savings account

The Monthly Average Balance is the sum of all the EOD closing balance divided by the number of days in that month, Image source: Reuters

Managing a bank account comes at a cost. This is why all banks expect their customers to maintain a Monthly Average Balance or MAB and failing to do so, penalise them. The Monthly Average Balance is the sum of all the EOD closing balance divided by the number of days in that month. The value varies for with each bank. Here is how much monthly average balance a customer of State Bank Of India, HDFC Bank, ICICI Bank, Punjab National Bank and Axis Bank is expected to maintain in the savings account

1. SBI: If you are a savings account account holder then the minimum balance limit is Rs 3,000 in Metro Centre branches and for Urban Centre branches it is Rs 3000. For Semi-Urban Centre branches it is Rs 2000 and for Rural Centre branches the minimum amount is Rs 1000.

2. HDFC Bank: If you are a savings bank account holder then the minimum balance limit in Metro/Urban branches is Rs10,000. In semi urban branches, it is Rs.5,000/- and, in rural branches it is Rs 2,500.

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3. ICICI Bank: If you are a Saving Bank account holder in ICICI Bank then the minimum balance limit in Metro or Urban branches is Rs.10,000 in Semi Urban branches it is Rs.5,000/- in rural branches is Rs.2,000 respectively.

4. Punjab National Bank: If you are a saving bank account holder in PNB then the minimum balance limit in Metro, Urban and Semi Urban branches is Rs 2,000, and in rural branches, it is Rs 1,000.

5. Axis Bank: If you are a savings bank account holder in Axis Bank then, the minimum balance limit is Rs 10,000.

Failing to maintain this amount can lead to penalties from these banks.

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