Table of Contents
- 1 What happens if minimum balance is not maintained in Central Bank?
- 2 What is the minimum balance to be maintained in current account?
- 3 What are the charges for current account?
- 4 Which current account is best in India?
- 5 What is the minimum balance to be maintained on current account?
- 6 What is the penalty for not maintaining the average monthly balance?
What happens if minimum balance is not maintained in Central Bank?
For a minimum balance of less than Rs 1,000 the penalties can go up to Rs 60 if there is a shortfall of 75\% or more. In semi urban centres, shortfall in the minimum balance requirement of Rs 500 to Rs 1,000 can attract penalties of up to Rs 20 if there is a 75\% of more shortfall.
What is the minimum balance to be maintained in current account?
The minimum balance requirement for opening a Normal Current Account is Rs. 10,000.
What is the minimum balance in Central bank of India?
Rs 50
The account can be opened with an initial deposit of Rs 50 and the minimum balance is Rs 50. No maintenance charges will be levied even though there is no average minimum balance.
What is Indian Bank Minimum balance 2020?
To maintain an Indian Bank Savings account, you require a minimum balance of Rs. 250 for non cheque operation and Rs. 500 for cheque operation. Indian Bank personalized account number and cheque book enhances security and ensures your money is safe.
What are the charges for current account?
Upto Rs. 10000: Rs. 2.50/- + GST.
Which current account is best in India?
Best Banks for Current Account
| Banks | Maximum Cash Deposit Allowed |
|---|---|
| State Bank of India (SBI) | No limit |
| HDFC Bank | Up to ₹2 lakhs per month (for regular current account) |
| ICICI Bank | Up to ₹1.8 crores per month |
| Axis Bank | Up to ₹2 lakhs per month (for regular current account) |
What is the minimum balance allowed in SBI?
SBI Minimum Balance Rules: SBI customers will be able to operate their savings accounts with any balance, and keeping zero balance will not attract any penalty. State Bank of India (SBI) on Wednesday relaxed monthly balance rules applicable to savings bank accounts in a bid to promote financial inclusion.
What is the minimum balance required in PNB and Yes Bank?
For those in rural locations, PNB has the average monthly balance requirement at Rs 1,000. Yes Bank customers who have opened Savings Advantage Account are required to fulfill a minimum balance requirement of Rs. 10,000 per month.
What is the minimum balance to be maintained on current account?
1 Minimum Average Balance to be maintained – 10,00,000 2 Charges for non-maintenance of Minimum Balance – 1,000 3 For complete details on Current Account please refer here
What is the penalty for not maintaining the average monthly balance?
Failure to comply with the average monthly balance requirement – in case the average maintained by the customer in the bank account fell short of the required value – led to a penalty ranging from ₹ 5 to ₹ 15 (excluding taxes). The monthly average balance is the average of end-of-day balances in the savings account in a month.