Maintaining a bank account is not always completely free. Depending on the account type and location, some banks require customers to maintain a minimum or average balance.
The amount can vary significantly, from ₹0 to ₹15,000 or more.
Here’s a quick look at the minimum balance requirements highlighted for several major banks.
BANKS WITH ZERO OR LOW MINIMUM BALANCE
Some banks offer savings account options where customers can maintain a very low balance or even zero balance.
• Kotak Mahindra Bank: Kotak 811 offers zero-balance variants, while other variants may have different requirements.
• IDFC FIRST Bank: Several savings account offerings have zero-balance features, depending on the account variant.
• Bank of Baroda: The bank has stopped charging non-maintenance fees on most savings accounts, except certain premium account categories.
• Punjab National Bank, Union Bank of India, Indian Bank and Bank of India: Several savings account variants may have zero or low balance requirements.
BANKS WHERE YOU MAY NEED ₹10,000+
Some regular savings accounts require a higher average balance, particularly in metro and urban locations.
ICICI Bank
For new savings accounts opened from August 1, 2025, the monthly average balance is:
• ₹15,000 – Metro/Urban
• ₹7,500 – Semi-Urban
• ₹2,500 – Rural
Salary accounts, BSBDA/PMJDY accounts and certain other categories may be exempt.
Axis Bank
For its Easy Access savings account, the average monthly balance is:
• ₹12,000 – Metro/Urban
• ₹5,000 – Semi-Urban
• ₹2,500 – Rural
The exact requirement depends on the account variant.
HDFC Bank
For its Regular Savings Account, the stated requirement is:
• ₹10,000 – Metro/Urban
• ₹5,000 – Semi-Urban
• ₹2,500 – Rural
WHY DOES MINIMUM BALANCE MATTER?
If you don't maintain the required balance, your bank may charge a non-maintenance fee, depending on the account's terms.
RBI rules require banks to clearly inform customers about minimum-balance requirements and applicable charges. Such charges should be proportionate to the shortfall.
HOW TO AVOID THESE CHARGES
• Check the exact account variant before opening an account.
• Check whether your location is classified as metro, urban, semi-urban or rural.
• Look for zero-balance savings account options if you don't want to maintain a fixed balance.
• Check the latest schedule of charges on your bank's official website.
THE BOTTOM LINE
A ₹0 minimum-balance account can be useful if you don't want to keep a fixed amount parked in your savings account.
But remember, minimum-balance requirements can differ based on the bank, account type and location.
So before choosing a savings account, don't just look at the interest rate. Check the minimum balance requirement and other account charges too.
Note: Minimum-balance requirements can change and may differ across account variants. Always verify the latest terms and charges with the respective bank before making a decision.
