What are the average monthly balance rules of SBI and HDFC banks; Learn here

This is a regular mandatory norm for the savings bank accounts customers to maintain a certain average monthly balance (AMB). The top banks of the country, like the State Bank of India and HDFC Bank, have their fixed monthly balance requirements and they have done it as per the location of a customer's account. The AMB in the bank account of the customers varies based on the locations in urban, metro, semi-urban and rural areas.

However, there are strict rules of charging a penalty on a customer who fails in maintaining the minimum account balance. The penalty charges levied for non-maintenance of balance by SBI and HDFC Bank are provided below:

State Bank of India (SBI)

For people living in urban and metro areas, SBI has set a monthly average balance of Rs. 3,000 for its savings account customers. On the other hand, for customers having SBI savings account in semi-urban and rural branches will be required to maintain a minimum average balance of Rs. 2,000 and Rs. 1,000, respectively. On failing to maintain the fixed monthly balance, customers are charged with the following charges:

Source: SBI's official website

HDFC Bank

For customers having regular savings account in HDFC Bank, the AMB in metro and urban areas is Rs. 10,000. However, the AMB in semi-urban branches is Rs. 5,000 every month and an average quarterly balances of Rs. 2,500 or a fixed deposit of Rs. 10,000 for a minimum one year and one day in the rural area branches.

The rule-breakers are charged with the following charges:

Also read: State Bank of India (SBI) Waives Charges On RTGS, NEFT