Not keeping minimum bank balance? Private banks may charge you more than Rs 600

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For HDFC Bank, penalty can be high as Rs 600 plus taxes, ICICI Bank the penalty can go up to Rs 450, for Axis Bank Rs 350 and for SBI it can go up to Rs 100

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As State Bank of India gears up to charge customers for not maintaining a minimum balance of Rs 5,000 for branches in six metros, private banks such as HDFC Bank are already charging their customers up to Rs 600.

In an interview to The Economic Times, Managing Director of the HDFC Bank Aditya Puri said, "For example, we get a Rs 10,000 savings bank deposit. I have to pay 4% interest, 4% I have to keep as CRR. I earn around Rs 200 in one year. In this Rs 200, what all you want? Free ATM you want, no cheque book charge you want, no cash handling charge you want."

The minimum balance limit in case of HDFC, ICIC and Axis Bank is Rs 10,000 for urban branches and Rs 5,000 for semi-urban branches.

Not keeping minimum bank balance? Private banks may charge you more than Rs 600

Pay up to Rs 600 plus taxes for not maintaining min bank balance | Latest News & Updates at Daily News & Analysis
 
They said I will be Charged Rs.750 just for Rs.2500 Minimum Balance.Is it Possible to convert from Minimum Balance to Zero Balance.
 
^ Possible in ICICI Bank, make an Fixed Deposit of 1.25 Lacs, then your regular saving account will be upgraded to Silver savings account with zero balance. And no extra charges for anything like unlimited atm txns, zero neft charges, zero charges for DD.
It was present before Demonitization, i suggest you to visit the branch and get confirmation.

 
@ Ritesh My Bank is HDFC bro if its in Rs.100 or Rs.200 I can pay for Cheque and Atm service but Rs.750 they said in a call last month.

And another clarifcation bro one of my brother said since Salary is credited it makes sure on 1 st & 31 st with decent amount will they calculate monthly average only for 15 days with less balance or will they also take into account the remaining 15 days A/C is funded with the minimum balance they require.
 
Ritesh said:
^ Possible in ICICI Bank, make an Fixed Deposit of 1.25 Lacs, then your regular saving account will be upgraded to Silver savings account with zero balance. And no extra charges for anything like unlimited atm txns, zero neft charges, zero charges for DD.
It was present before Demonitization, i suggest you to visit the branch and get confirmation.
Click to expand...
Bro zero balance account is PM's pet project. No fixed deposit required. You don't even need documents.
 
Sarkar said:
Bro zero balance account is PM's pet project. No fixed deposit required. You don't even need documents.
Click to expand...
Yes bro, they are jan dhan accounts. They will still be free but they come with lot of restrictions.

 
Ritesh said:
Yes bro, they are jan dhan accounts. They will still be free but they come with lot of restrictions.
Click to expand...

yeah deposit and withdrawal restrictions are there but very useful of poor people
 
Sarkar said:
yeah deposit and withdrawal restrictions are there but very useful of poor people
Click to expand...

Exactly.. They were meant for poor people but sadly, they are being misused.
 
Super :clap:clap:clap .. Soon they going to withdrawn coz of less money deposit in SB Account .. Again going to removing these restrications what happend in 2008-2009 ..
 
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