Minimum Balance Rules: Here’s About All The Banks

Minimum Balance Rules:

Banks in India have different rules for maintaining a minimum balance in savings accounts. If customers fail to meet the requirement, they may be charged a penalty. ICICI Bank has raised its minimum balance requirement for new savings accounts to ₹50,000 per month. This change applies to branches in metro and urban areas, starting from 1 August 2025.

Minimum Balance Rules:

Before this, ICICI Bank required ₹10,000 per month in urban branches. The bank also raised the minimum balance requirement for semi-urban branches to ₹25,000, up from ₹5,000. Rural branches now require ₹10,000 instead of ₹5,000.

What Is Minimum Balance Requirement?

The minimum balance requirement (MBR) is the smallest amount of money you need to keep in your savings account to avoid penalties. Different banks set their own MBR based on the type of account and the branch’s location. For example, metro and urban branches often have higher MBRs than rural branches.

Minimum Balance for Popular Banks

Here is a list of minimum balance requirements at some of India’s top banks:

1. HDFC Bank:

Metro branches: ₹10,000 per month.
Semi-urban branches: ₹5,000 per month.
Rural branches: ₹2,500 per quarter.

2. State Bank of India (SBI):

No minimum balance is required for savings accounts.

3. Kotak Mahindra Bank:

Minimum balance: ₹10,000 to ₹20,000, depending on the type of savings account.

4. Axis Bank:

All branches: ₹10,000 per month.
Priority Savings Account: ₹2,00,000 per month.

5. Bank of Baroda:

Metro branches: ₹2,000 per quarter.
Semi-urban branches: ₹1,000 per quarter.
Rural branches: ₹500 per quarter.

6. Punjab National Bank (PNB):

Metro branches: ₹10,000 per month.
Semi-urban branches: ₹2,000 per month.
Rural branches: ₹1,000 per month.

7. Union Bank of India:

Metro branches: ₹1,000 per quarter.
Semi-urban branches: ₹500 per quarter.
Rural branches: ₹250 per quarter.

8. Canara Bank:

No minimum balance required for any type of savings account.

9. IDBI Bank:

Metro branches: ₹10,000 per month.
Semi-urban branches: ₹5,000 per month.
Rural branches: ₹2,500 per month.

10. Indian Bank:

Metro branches with cheque facilities: ₹2,500 per month.
Semi-urban branches: ₹1,000 per month with cheque facilities.

11. Yes Bank:

Basic savings account: No minimum balance.
Premium savings accounts: ₹10,000 to ₹25,000 per month.

Different banks have different minimum balance rules. Some banks have waived the requirement entirely, while others have raised their minimum balance. It is important to check your bank’s policy to avoid penalties for not maintaining the required balance.

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