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Minimum Balance: Many banks in the country have set rules for maintaining minimum balances in savings accounts on behalf of the customer as per the instructions of RBI. These banks also include SBI, HDFC, and PNB banks.

Let us tell you that to run the bank account smoothly, the minimum balance has to be maintained in it (Minimum balance new rules). This rule of keeping balance is different for rural, town, and urban customers. Know in the news what is the rule of which bank regarding minimum balance.

Minimum balance rule in SBI-

State Bank of India (SBI minimum balance rule) of the public sector has abolished the rule of minimum balance on savings accounts from March 2020. Earlier this rule was also applicable to SBI customers. The customer then had to keep an average balance of one thousand to three thousand rupees in the account. This rule (SBI bank account rules) was according to rural and urban accounts.

Minimum balance limit in HDFC-

HDFC is the largest private sector bank. (HDFC minimum balance) In this bank, the minimum balance period for the person having an account in the urban branch is 1 year and 1 day. The minimum balance for one month (HDFC minimum balance rules) is fixed at Rs. 10,000.

Instead of this, you can also get an FD of Rs. 1 lakh done in the bank. For small towns, the minimum balance limit has been fixed at Rs. 5,000 or Rs. 50,000 (Fixed deposit). The condition of minimum balance can be fulfilled by getting an FD of Rs. 2,500 or Rs. 25,000 in rural branches.

Rules of Punjab National Bank-

The minimum balance limit in Punjab National Bank has been fixed according to the type of account and the area. If you have an account in a bank branch in rural areas, it is necessary to keep a minimum balance of Rs. 1,000 (PNB minimum balance rules). The minimum balance limit has been fixed at Rs 2,000 for towns and Rs 5,000 for cities. If you have an account in a bank branch in a metro city (PNB minimum balance), this amount has been fixed at Rs 10,000.

You can open a zero-balance account-

If you want to avoid the hassle of maintaining a minimum balance in your account (Minimum balance for a savings account), then you can open a zero-balance account. Nowadays, many banks provide this facility to customers. Apart from this, there is no compulsion to maintain a minimum balance in salary account (salary account rules).

Penalty for not maintaining minimum balance-

The rules for imposing penalties by every bank (bank rules for minimum balance) for not maintaining minimum balance are different. It can range from Rs 100 to Rs 500 (fine on not maintaining minimum balance) per month. A rule of RBI also says that banks can make the account zero by imposing a fine but cannot make it minus. If the account holder wants to close the account (bank account rules), then the minus amount cannot be demanded from him.

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