Many banks require customers to maintain a minimum balance in savings accounts.
If balance falls below the required amount, banks may charge penalty fees.
Minimum balance is the amount you must maintain in your bank account.
The amount depends on bank and account type.
If your bank requires ₹5,000 minimum balance and your account has only ₹2,000, penalty charges may apply.
Some banks provide zero balance accounts without penalty.
Learn here: Zero Balance Account
Savings accounts may provide interest.
Learn here: How Savings Interest is Calculated
Different banks have different balance requirements.
Learn here: Best Bank for Savings Account
Banks may charge penalty fees.
No, some banks offer zero balance accounts.
Yes, by maintaining required balance or using zero balance accounts.
Many salary accounts have zero balance feature.