Your question: What should be minimum balance in United Bank of India?

United Bank of India offers various types of current accounts to its customers to serve various business needs. The initial deposit required is Rs. 2,500 and minimum balance to be maintained is Rs. 1,000.

What is minimum balance for savings account?

The minimum average monthly balance requirement is Rs. 10,000 for metro cities, Rs. 5,000 for semi-urban cities and Rs. 2,500 for rural cities.

Which bank requires lowest minimum balance?

8 Best Zero Balance Savings Account In India

  1. IDFC First Bank Pratham Savings Account. …
  2. YES Bank Smart Salary Advantage. …
  3. IndusInd Bank-Indus Online Savings Account. …
  4. DBS-DigiSavings. …
  5. Kotak Mahindra Bank-811 Digital Bank Account. …
  6. HDFC Bank – Basic Savings Bank Deposit Account. …
  7. SBI – Basic Savings Bank Deposit Account.

Which bank has lowest minimum balance in India?

List of All Banks Savings Account Interest Rates and Minimum Balance 2022

List of Banks Minimum Balance Required(INR)
Federal Bank Saving Accounts
HDFC Bank Saving Accounts 2500/5000/10000/25000
ICICI Bank Saving Accounts 0/1000/2000/2500/5000/10000
IDBI Bank Saving Accounts 500/2500/5000
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What is the minimum balance in Indian Bank 2021?

To maintain an Indian Bank Savings account, you require a minimum balance of Rs. 250 for non cheque operation and Rs. 500 for cheque operation. Indian Bank personalized account number and cheque book enhances security and ensures your money is safe.

Is there minimum balance in SBI?

Account holders in semi-urban SBI branches are required to maintain a balance of INR 2,000, while on the other hand, the customers in rural branches need to keep a monthly balance of INR 1,000.

What is the minimum balance in SBI?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.

Which bank is best in India for savings account?

Top Banks that have the Best Savings Account for Individuals

  • State Bank of India (SBI) Savings Account.
  • HDFC Bank Savings Account.
  • Kotak Mahindra Bank Savings Account.
  • DBS Bank Savings Account.
  • RBL Bank Savings Account.
  • IndusInd Bank Savings Account.

What is minimum balance in BoB?

The minimum quarterly average balance for BoB advantage savings accounts for urban and metro branches will be increased from ₹ 1,000 to ₹ 2,000 from 1 February 2019 and for semi-urban branches, the minimum balance will be ₹ 1,000. Till now, the customer had to maintain ₹ 500 in BoB semi-urban branches.

What is a zero balance savings account?

A Zero Balance Savings Account is a type of savings account where you are not required to maintain a minimum balance, i.e. your account balance can go down to Rs. 0 and it won’t attract any penalties. It is one of the most difficult tasks to maintain a minimum balance in the account.

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What is the minimum balance for banks?

A minimum balance requirement is the minimum amount of money that you have to keep in your bank account, usually in order to waive the account’s monthly fee. For example, if a bank account has a $100 minimum balance requirement, you want to make sure that you don’t let your balance fall to $99.99 or less.

What is minimum balance?

A Minimum Balance is the minimum amount of money needed in a bank account to avoid any fees.

What happens if you don’t maintain minimum balance in Indian bank?

If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month! … Most banks require their customers to maintain a minimum balance in their account. They charge their account holders for the non-maintenance of minimum average balance (MAB).