SBI Bank | HDFC Bank: Savings account minimum balance requirement: SBI vs ICICI Bank vs HDFC Bank

Savings account with a bank provides the account holder with a high level of liquidity, security of money, and a fixed rate of interest. There is a minimum average balance that all savings account customers are required to keep on their accounts. Also, if the same is not maintained, there will be a penalty depending on the savings account and balance requirement.

There are several different kinds of savings accounts, each with a specific function which depends on the type of account. Most top public sector banks and private-sector lenders levy a fine on their customers for not maintaining a monthly average balance in their savings accounts.

The penalty depends on factors like the location of the branch and the amount maintained in the account. However, the largest public sector bank in the country, the

(), has waived off the fines levied for non-maintenance of the average monthly balance.

Comparison of minimum balance requirements by SBI, and


In August 2020, SBI stated that it will not charge savings bank account holders for failing to maintain the required minimum balance.


For HDFC Bank customers, service, transaction charges will be applied in the current month based on the AMB maintained in the account in the previous month.

HDFC Bank customers of metro branches require Average Monthly Balance (AMB) of Rs 10,000 or a fixed deposit of Rs 1 lakh for a minimum of 1 year and 1 day to be maintained. This is applicable from July 1, 2022.

HDFC Bank customers of semi-Urban branches require AMB Rs 5,000 or a fixed deposit of Rs 50,000, and Rural branches require AQB Rs 2,500 or a fixed deposit of Rs 25,000 to be maintained, according to the HDFC bank website.


The minimum average monthly amount for the bank’s regular savings accounts is Rs 10,000 for metro areas, Rs 5,000 for semi-urban areas, and Rs 2,000 for rural areas.

Charges to be levied


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