Minimum balance for all government banks is about Rs 500, but if you open an account in the public account, then there is zero sum for it. If private banks have an account, then the limit of minimum balance ranges from Rs 5000 to Rs 10,000. The minimum balance for the current account in government banks is Rs 2,500 to Rs 5000 and for private banks this is Rs 10000. To know how much money is currently in a bank, you can also know by going to your bank’s website or checking directly at the branch of the bank.
Here, we will tell you how much the minimum balance should be in banks like SBI, HDFC, ICICI-
State Bank of India
State Bank of India (SBI) has announced a reduction of 75% in AMB (average monthly balance) fee effective on Tuesday, April 1, 2018.
At SBI, the minimum balance in the savings account is 3000 rupees, the deduction of 50 rupees per month, there are many times there are 20 rupees per transaction and 8 rupees for balance inquiry.
From 1-1 April 2017, SBI Savings allows bank account holders to deposit cash three times a month. In addition, it charges more than 50 service tax for each transaction.
In the case of a 2-current account, the levy may be as high as Rs 20,000.
3- SBI account holders will also have to keep the minimum balance in their accounts, if they do not do so, they will be penalized. Penalties for rural areas will be reduced.