Minimum balance
The least amount, usually a monthly average, a bank asks you to keep in a savings account.
The minimum balance is the price of a regular savings account. Miss it and the bank can charge a penalty, within RBI’s guardrails: notice first, at least a month to top up, a charge in proportion to the shortfall, and never a negative balance. The simplest escape is a Basic Savings Bank Deposit Account, which has no minimum at all.
Questions people ask
What is the minimum balance in a savings account?
It is the least amount a bank asks you to keep in the account, usually measured as an average across the month rather than on one day. Each bank sets its own amount, often by account type and branch location. Your bank's schedule of charges lists it.
Can a bank charge me for not keeping the minimum balance?
Yes, but RBI rules say the bank must first notify you by SMS, email or letter and give you at least a month to restore the balance. The charge must be in proportion to the shortfall, and it cannot make your balance negative.
Which accounts have no minimum balance?
A Basic Savings Bank Deposit Account has no minimum balance under RBI rules. Salary accounts usually waive it while salary keeps coming in, but it often applies once salary stops.
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