What is Minimum Balance in Savings Account

There are many benefits of holding a savings bank account, but it comes with certain rules and regulations as well. You are supposed to maintain a minimum balance in your account so that charges are not levied.

Understanding Minimum Balance in Savings Accounts

All banks require you to maintain a minimum balance in their regular savings bank accounts. You have to deposit the sum in your account when you open the account.

The minimum balance that needs to be maintained in savings accounts depends on the bank, type of bank account, and location. The amount is the lowest in rural branches and highest for metro cities. 

On failing to maintain the minimum balance, banks charge you a penalty or a fee. This may again depend on similar factors like location and the bank. 

how Important to Maintain Balance in Savings Accounts?

Most regular savings bank accounts require you to maintain a minimum balance. But, banks also have zero-balance savings accounts, where you do not need to maintain a minimum balance. 

A zero-balance bank account may have fewer benefits as compared to a regular savings bank account. However, important features like ATM cards or Debit cards, cheque facilities, etc. are provided for zero-balance accounts as well.

Minimum Balance of Top Banks

As the minimum balance in savings accounts varies depending on banks and the location, here is a table that lists the top banks and their minimum balance requirements. The banks that offer zero-balance accounts are also mentioned in the table. 


Zero-Balance Account

Minimum Balance




State Bank of India

All savings bank accounts are zero-balance accounts

Union Bank of India


With Cheque book - Rs.250

Without Cheque book - Rs.100

With Cheque book - Rs.500

Without Cheque book - Rs.250

With Cheque book - Rs.1,000

Without Cheque book - Rs.500


Not available





Not available

Rs.1,000 for gramin branches & Rs.2,000 for rural branches



Axis Bank

Not available




Bank of Baroda

Not available




IDFC First Bank

Not available

Rs.10,000 or Rs.25,000, depending on your choice

Bank of India

Not available

Rs.500 for Savings Bank Ordinary Account,

Rs.5,000 for BOI Star Mahila SB Account, and Rs.10,000 for BOI Star Senior Citizen SB Account

Kotak Mahindra


Rs.2,500 for Sankalp Savings Account,

Rs.5,000 for Nova Savings Account,

Rs.10,000 for Edge Savings Account and Classic Savings Account,

Rs.20,000 for EveryDay Savings Account and Pro Savings Account,

Rs.50,000 for Ace Savings Account

RBL Bank


Rs.5,000 for Digital Savings Account and Senior’s First Savings Account,

Rs.10,000 for Prime Edge Savings Account and Woman’s First Savings Account,

Rs.25,000 for Advantage Savings Account,

Rs.50,000 for RBL Rise Savings Account

Please note that the above figures are subject to change at the bank’s discretion.

Types of Savings Bank Accounts

All banks offer multiple types of savings bank accounts. Each of these types has a different minimum required balance and different interest rates. Here are a few most common types of savings bank accounts - 


Banks require you to maintain a minimum balance in their savings bank accounts. Some banks have a quarterly minimum balance requirement, while some have monthly minimum balance requirements. 

The amount varies depending on the type of bank account and also on the location of the branch.

In the occasion of your balance going below the minimum requirement, banks charge for extra for regular services, and may also charge some penalty or fees. 

These fees also depend on the bank. Consider looking carefully at these charges before opening a bank account.

In case your bank balance has reached close to the minimum, and you need funds for some emergency, you can consider taking an instant personal loan from moneyview. You can get loans of Rs.5,000 to Rs.10 Lakh with minimal documentation. 

What is Minimum Balance in Savings Account? - Related FAQs

No, there is no maximum cap on how much money you can store in a savings bank account.

No, you don’t have to pay a monthly fee to hold a savings bank account. You just need to maintain a minimum balance in your account.

Many banks like the State Bank of India, Union Bank of India, Kotak Mahindra Bank, etc. have the option to open zero-balance savings accounts. You don’t have to maintain a minimum balance in these bank accounts.

All SBI savings accounts are zero-balance accounts, which means you don’t have to maintain a minimum balance.

If a bank has a minimum balance policy, it is mandatory to follow it. On failing to do so, a penalty will be charged by the bank.

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