Important information for bank customers; Do you know how much ‘balance’ should be kept in which ‘bank’? This is the ‘Minimum Balance’ rule.

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Do you have a savings account in a bank? Did you know that you have to maintain an average minimum balance in that account every month? The average minimum balance in each bank is in a different range.

That is, a certain amount should be kept in the form of balance in the bank account every month. The average minimum balance is at one level in rural areas, one level in towns/cities, another level in metro cities. Banks levy penalty charges on customers who do not maintain average minimum balance. Let us now know about the rules in force in some major banks in this regard.

SBI..!
SBI has removed average monthly balance charges in March 2020. Earlier, charges ranging from Rs 5 to Rs 15 had to be paid if the average monthly balance was not maintained. Account holders can make up to four free transactions at banks and bank branches. 15 + GST ​​after crossing the free limit. There are charges for ATM transactions. But after crossing the free limit, the fee has to be paid.

If you manage more than Rs.1,00,000.?
There is no limit if you maintain an average monthly balance of more than Rs.1,00,000. Those maintaining a monthly balance below 1,00,000 can make 5 free transactions at SBI ATMs. 3 transactions can be done at other ATMs in metro cities. 5 free transactions can be made at ATMs in other regions. After crossing the limit Rs.20 + GST ​​for every financial transaction in metro cities, Rs.8 + GST ​​for non-financial transaction, Rs.10 + GST ​​for every other financial transaction areas, and Rs.5 + GST ​​for non-financial transaction.

HDFC Bank..!
The average monthly balance in HDFC Banks in urban and metro areas is Rs 10,000. 5 thousand in semi-urban areas. 2500 rupees only in rural areas. If this balance is not met, a penalty is imposed. In semi-urban areas, this fine is Rs 150 to Rs 300 per month and slightly higher in metro areas Rs 150 to Rs 600.

ICICI Bank..!
Average monthly account balance of ICICI Bank customers in metro and urban areas is Rs 10,000. 5,000 in semi-urban areas and 2,000 in rural areas. If this balance is not maintained, 6% will be charged. or a maximum fine of Rs.500.

Punjab National Bank..!
20,000 rupees per customer of this bank every three months. 1,000 in semi-urban areas only. But, only 500 in rural areas.

Kotak Mahindra Bank..!
Customers of this bank in metro cities have to maintain an average of Rs.10 thousand per month. In urban areas, it is enough if customers keep an average monthly balance of Rs.5 thousand. Not following this…

Shock for ATM card users..!
Banks have given a shock to ATM card users. Additional charges are levied on ATM withdrawals. If you withdraw more than the 5 free transactions imposed by banks at ATM centers from August 1, you will have to pay an additional charge. Currently, banks charge Rs 17 per over-limit withdrawal at ATMs and Rs 6 for non-financial transactions. ATM installation and maintenance charges have increased. In this background, if you withdraw money from ATM centers less than 5 times in a month, there is no possibility of paying extra money. But recently, RBI has allowed banks to charge more if it exceeds five times. With this, ATMs are ready to charge transaction fees from customers.

The Reserve Bank of India had told banks in June last year that they may charge Rs 21 per month on excess transactions. Because of this, from January 1 this year, an additional 21 rupees with draw fee is being charged at the ATM. Recently, RBI has taken an important decision regarding ATM withdrawal. Banks have been ordered to collect service charges from customers. As per RBI order, banks are charging additional charges for ATM withdrawals from August 1.

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