Quick Answer: What Happens If Minimum Balance Is Not Maintained In HDFC?

What is average monthly balance HDFC?

Assuming, a bank asks that you maintain Rs 5,000 as average monthly balance: On July 1, the balance in the account is Rs 5,000.

On July 12, withdrawal of Rs 4,000 takes place.

EOD balance is Rs 1,000….HDFC Bank.AMB SlabMetro/UrbanSemi Urban/Rural>=2,500 to < 5,000Rs.

450Rs.

1500 to < 2,500Rs.

600Rs.

3002 more rows•Aug 6, 2018.

Which account is best in HDFC Bank?

Types of HDFC Savings AccountsSavingsMax Account: … Regular Savings Account: … Women’s Savings Account: … Kid’s Advantage Account: … Senior Citizens Account: … Family Savings Group Account: … Basic Savings Bank Deposit Account: … Institutional Savings Account:More items…

How do I close my negative account balance?

Close Your Checking Account If you can’t pay your negative account balance, the best thing to do is try to get the account closed or frozen because most banks charge a negative account balance fee when your account is negative.

Which bank has highest minimum balance?

List of All Banks Savings Account Interest Rates and Minimum Balance 2020List of Savings Account BanksMinimum Balance Required(INR)Axis Bank0/10000/25000/100000Bank of Baroda0/5/1000Bank of India500/5000/10000/20000/100000Bandhan Bank0/2000/5000/25000/10000033 more rows

What is minimum average balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

What is closing balance in HDFC Bank?

A closing balance is the sum of the total available at the end of an accounting period / reporting period. This includes amount pertaining to pay order, cheque, demand draft, etc. that are yet to be cleared.

What are the charges for not maintaining minimum balance in HDFC?

Balance Non-Maintenance Charges*AMB Slabs (in Rs.)Metro & UrbanSemi Urban>=7,500 to < 10,000Rs. 150/-NA>=5,000 to < 7,500Rs. 300/-NA>=2,500 to < 5,000Rs. 450/-Rs. 150/-2 more rows

What is minimum balance in SBI?

In March this year, SBI had announced that it will waive charges for non-maintenance of average monthly balance (AMB) for all savings bank accounts. Earlier, SBI savings bank customers had to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively.

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

Can I close my bank account with negative balance?

No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so.

Which bank has zero balance?

Top Zero Balance Savings Account 2020Top Zero Balance Savings AccountAccount NameInterest Rate (up to Rs 1 lakh)Standard Chartered Bank Aasaan3.00%HDFC Bank BSBDA3.00%State Bank of India BSBDA2.70%5 more rows•Jan 21, 2020

What happens if minimum balance is not maintained?

They charge their account holders for the non-maintenance of minimum average balance (MAB). Yes, the government had given a waiver on this till the end of June, but, that period is over. If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month!

How can we avoid minimum balance charges?

If you use your bank’s online bill paying features, you can often avoid minimum balance fees. Even if you use the online bill paying as infrequently as once a month, many banks will credit this and will not charge the maintenance fees.

Is HDFC zero balance account available?

You can open a Savings Account, but you don’t have to maintain a minimum balance for it. Despite this, the bank will still provide the usual facilities that come with a regular Savings Account. As the name of the account implies, this is a zero-balance account. … Consequently, there is no penalty in case of zero balance.

Which bank is best Axis or HDFC?

Comparison Between Axis Bank and HDFC Home LoansCategoryAxis Bank Home LoanInterest rate7.75% p.a. onwardsEMI per lakhRs.772Age of the applicant21 years to 65 yearsPrepayment chargesNil for floating rate loans 2% for fixed rate loans on the total principal outstanding amount12 more rows

What is the minimum balance required in HDFC Bank?

Rs. 10,000To maintain HDFC Bank Savings account, you require a minimum balance of Rs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

How can I close my HDFC Bank account with negative balance?

Just put an account closure request and take receiving….. Either manager will close the account or the account will be dormant….. No need to pay these stupid penalties…… For account closure we need to make it positive, if do not want to close then no need to pay but your -ve amount will be increase month by month.