Minimum balance requirement and charges for not maintaining QAB or MAB in Indian banks

In most of the Indian banks, if you have a bank account, you need to maintain a minimum balance amount per month or per quarter. If you fail to do so, you will be charged for not maintaining the minimum balance amount known as Quarterly Average Balance (QAB) or Monthly Average Balance (MAB).

So, what is the minimum balance amount for all the banks?

  1. It depends completely on the bank.
  2. Quarterly Average Balance (QAB) means minimum balance of 3 months.
  3. Monthly Average Balance (MAB) means minimum balance of 1 month.
  4. It is not fixed but gets revised from time to time.
  5. The charges are divided into categories like Urban / Rural, Metro / Non-Metro etc.

Comparison of banks regarding Minimum balance amount and charges for not maintaining Quarterly Average Balance (QAB) or Monthly Average Balance (MAB):

Bank NameMinimum Balance Amount (QAB/MAB) (₹)CHARGES for not maintaining QAB / MAB (₹)
SBI (State Bank of India)NILNIL
PNB (Punjab National Bank)500 / 1,000 / 2,000 (QAB)50 to 250
BOI (Bank of India)500 / 1,000 (QAB)100 to 200
BoM (Bank of Maharashtra)500 / 1,000 / 2,000 (MAB)10 to 75
Canara Bank500 / 1,000 (MAB)25 to 45
Indian Bank1,000 / 2,500 (MAB)10 to 100
Indian Overseas Bank500 / 1,000 (QAB)75 to 150
ICICI Bank2,000 / 5,000 / 10,000 (MAB)250 to 350
Axis Bank10,000 for Urban (MAB)5 per 100 of the shortfall + 75
HDFC Bank2,500 / 5,000 / 10,000 (QAB/MAB)150 to 600
Comparison of banks regarding Minimum balance amount and charges for not maintaining QAB or MAB

SBI savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

Monthly Average Balance: NIL

SBI savings account Minimum balance criteria and charges for not maintaining Minimum balance
SBI savings account Minimum balance criteria and charges for not maintaining Minimum balance

PNB savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

PNB savings account Minimum balance criteria and charges for not maintaining Minimum balance

PNB savings account Minimum balance criteria:

AreaRuralSemi UrbanUrban & Metro
PNB Minimum QAB (Quarterly Average Balance)Rs. 500/-Rs. 1,000/-Rs. 2,000/-
PNB savings account Minimum balance criteria

‘Charges per Quarter’ for Not Maintaining Quarterly Average Balance (QAB) in PNB:

AreaRural QAB chargeSemi Urban QAB chargeUrban & Metro QAB charge
Shortfall In QAB (Quarterly Average Balance)
Up To 50%Rs. 50/-Rs. 100/-Rs. 150/-
Above 50%Rs. 100/-Rs. 150/-Rs. 250/-
‘Charges per Quarter’ for Not Maintaining Minimum Balance in PNB

BOB savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

BOB savings account Minimum balance criteria (BOB Advantage savings account):

AreaUrban / RuralMetro / Urban
BOB Minimum QAB (Quarterly Average Balance)Rs. 500/-Rs. 1,000/-
BOB savings account Minimum balance criteria

‘Charges per Quarter’ for Not Maintaining Minimum Balance in BOB:

AreaUrban / Rural QAB chargeMetro / Urban QAB charge
‘Charges per Quarter’ for Not Maintaining Minimum BalanceRs. 100/-Rs. 200/-
‘Charges per Quarter’ for Not Maintaining Minimum Balance in BOB

BOI savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

BOI savings account Minimum balance criteria and charges for not maintaining Minimum balance

BOI savings account Minimum balance criteria:

AreaRural / Semi-UrbanMetro / Urban
BOI Minimum QAB (Quarterly Average Balance)Rs. 500/-Rs. 1,000/-
BOI savings account Minimum balance criteria

‘Charges per Quarter’ for not Maintaining Quarterly Average Balance (QAB) in BOI:

AreaRural / Semi-Urban QAB chargeMetro / Urban QAB charge
Charges per QuarterRs. 100/-Rs. 200/-
Slab 1Rs. 250 to Rs. 499 : 50%Rs. 500 to Rs. 999 : 50%
Slab 2Rs. 100 to Rs. 249 : 80%Rs. 250 to Rs. 499 : 80%
Slab 3Below Rs 100 : 100%Below Rs 250 : 100%
‘Charges per Quarter’ for Not Maintaining Minimum Balance in BOI

ICICI savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB):

ICICI savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB)

ICICI savings account Minimum balance criteria:

AreaRuralSemi UrbanMetro / Urban
ICICI Minimum MAB (Monthly Average Balance)Rs. 2,000/-Rs. 5,000/-Rs. 10,000/-
ICICI savings account Minimum balance MAB criteria

‘Charges per Month’ for not Maintaining Monthly Average Balance (MAB) in ICICI:

AreaRural MAB chargeSemi Urban MAB chargeMetro / Urban MAB charge
MAB >= 50% of Minimum balanceRs. 250/-Rs. 250/-Rs. 250/-
MAB < 50% of Minimum balanceRs. 350/-Rs. 350/-Rs. 350/-
‘Charges per Month’ for Not Maintaining Minimum Balance in ICICI

Axis savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB):

Axis savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB)

Axis savings account Minimum balance criteria:

AreaRuralSemi UrbanMetro / Urban
Axis Minimum MAB (Monthly Average Balance)Rs. 10,000/-
Axis savings account Minimum balance MAB criteria

‘Charges per Month’ for not Maintaining Monthly Average Balance (MAB) in Axis:

AreaRural MAB chargeSemi Urban MAB chargeMetro / Urban MAB charge
Charges per MonthRs. 5 per 100 of the shortfall + Rs. 75
‘Charges per Month’ for Not Maintaining Minimum Balance in Axis

HDFC savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB) and MAB:

HDFC savings account Minimum balance criteria and charges for not maintaining Minimum balance

HDFC savings account Minimum balance criteria:

AreaRural QABSemi-Urban MABMetro / Urban MAB
HDFC Minimum MAB & QABRs. 2,500/-Rs. 5,000/-Rs. 10,000/-
HDFC savings account Minimum balance criteria

‘Charges per Month & Quarter’ for not Maintaining MAB & QAB in HDFC:

AreaRural QAB chargeSemi-Urban MAB chargeMetro / Urban MAB charge
Slab 1QAB = 1000 to 2,500 : Charge – Rs. 270/-MAB >=2,500 to < 5,000 : Charge – Rs. 150/-MAB >=7,500 to < 10,000 : Charge – Rs. 150/-
Slab 2QAB < 1000 : Charge – Rs. 450/-MAB < 2,500 : Charge – Rs. 300/-MAB >=5,000 to < 7,500 : Charge – Rs. 300/-
Slab 3MAB >=2,500 to < 5,000 : Charge – Rs. 450/-
Slab 4MAB < 2,500 : Charge – Rs. 600/-
Charges for Not Maintaining Minimum Balance in HDFC

BoM savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB):

BOM savings account Minimum balance criteria and charges for not maintaining Minimum balance

BOM savings account Minimum balance criteria:

AreaRural MABSemi-Urban MABMetro / Urban MAB
BOM Minimum MABRs. 500/-Rs. 1,000/-Rs. 2,000/-
HDFC savings account Minimum balance criteria

‘Charges per Month’ for not Maintaining MAB in BOM:

AreaRural MAB chargeSemi-Urban MAB chargeMetro / Urban MAB charge
Slab 1MAB >=250 to < 500: Charge – Rs. 10/-MAB >=500 to < 1,000 : Charge – Rs. 25/-MAB >=1,000 to < 2,000 : Charge – Rs. 38/-
Slab 2MAB >=125 to < 250: Charge – Rs. 15/-MAB >=250 to < 500: Charge – Rs. 38/-MAB >=500 to < 1,000 : Charge – Rs. 56/-
Slab 3 MAB < 500 : Charge – Rs. 20/-MAB < 500 : Charge – Rs. 50/-MAB < 500 : Charge – Rs. 75/-
Charges for Not Maintaining Minimum Balance in BOM

Canara bank savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB):

Canara Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance

Canara Bank savings account Minimum balance criteria:

AreaRural MABMetro / Urban / Semi-Urban MAB
Canara Bank Minimum MABRs. 500/-Rs. 1,000/-
Canara Bank savings account Minimum balance criteria

‘Charges per Month’ for not Maintaining MAB in Canara Bank:

AreaRural MAB chargeMetro / Urban / Semi-Urban MAB charge
Slab 1MAB >=499 to < 350 : Charge – Rs. 25/-MAB >=999 to < 700 : Charge – Rs. 25/-
Slab 2MAB >=349 to < 200 : Charge – Rs. 35/-MAB >=699 to < 400 : Charge – Rs. 35/-
Slab 3MAB < 199 : Charge – Rs. 45/-MAB < 399 : Charge – Rs. 45/-
Charges for Not Maintaining Minimum Balance in HDFC

Indian bank savings account Minimum balance criteria and charges for not maintaining Monthly Average Balance (MAB):

Indian Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance
Indian Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance

Indian Bank savings account Minimum balance criteria:

AreaSemi-Urban / Rural MABMetro / Urban MAB
Indian Bank Minimum MABRs. 1,000/-Rs. 2,500/-
Indian Bank savings account Minimum balance criteria

‘Charges per Month’ for not Maintaining MAB in Indian Bank:

Amount of shortfall to average minimum balance required in Indian BankService Charges per month in Rs.
76% – 100% 100
51%-75%75
26% – 50%50
11% -25%25
1% – 10%10
Charges for Not Maintaining Minimum Balance in Indian bank

Indian Overseas Bank savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

Indian Overseas Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance

Indian Overseas Bank savings account Minimum balance criteria:

AreaPensioners QABSemi-Urban / Rural QABMetro / Urban QAB
IOB Minimum QAB, with cheque BookRs. 250/-Rs. 500/-Rs. 1,000/-
IOB Minimum QAB, without cheque BookRs. 5/-Rs. 100/-Rs. 500/-
Indian Overseas savings account Minimum balance criteria

‘Charges per Quarter’ for not Maintaining QAB in Indian Overseas Bank:

Extent of Shortfall in minimum balancePensioners QAB chargeSemi-Urban / Rural QAB chargeMetro / Urban QAB charge
Short fall >75 %Rs. 60/-Rs. 105/-Rs. 150/-
Short fall >50 -75%Rs. 40/-Rs. 90/-Rs. 130/-
Short fall < 50 %Rs. 30/-Rs. 75/-Rs. 110/-
Indian Overseas bank savings account Minimum balance criteria

Uco Bank savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

Uco Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance
Uco Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance

Uco Bank savings account Minimum balance criteria:

Uco bank Minimum QAB, with cheque Book:

AreaRural QABSemi-Urban QABUrban QABMetro QAB
IndividualRs. 250/-Rs. 500/-Rs. 1,000/-Rs. 1,000/-
OthersRs. 250/-Rs. 1,000/-Rs. 1,500/-Rs. 1,500/-
PensionersRs. 100/-Rs. 100/-Rs. 100/-Rs. 250/-
Uco bank savings account Minimum balance criteria

Uco bank Minimum QAB, without cheque Book:

AreaRural QABSemi-Urban QABUrban QABMetro QAB
All classes of depositorsRs. 100/-Rs. 250/-Rs. 500/-Rs. 500/-
PensionersRs. 50/-Rs. 50/-Rs. 50/-Rs. 50/-
Uco bank savings account Minimum balance criteria

‘Charges per Quarter’ for not Maintaining QAB in Uco Bank:

AreaQAB charge
At Rural branches with cheque facilityRs.100/- per quarter
At Other branches with cheque facilityRs.150/- per quarter
At all branches without cheque facilityRs.100/- per quarter
Uco bank savings account Minimum balance criteria

Union Bank savings account Minimum balance criteria and charges for not maintaining Quarterly Average Balance (QAB):

Union Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance
Union Bank savings account Minimum balance criteria and charges for not maintaining Minimum balance

Union Bank savings account Minimum balance criteria:

AreaRural QABSemi-Urban QABUrban QABMetro QAB
Union bank Minimum QAB, with cheque BookRs. 250/-Rs. 500/-Rs. 1,000/-Rs. 1,000/-
Union bank Minimum QAB, without cheque BookRs. 100/-Rs. 250/-Rs. 500/-Rs. 500/-
Union bank savings account Minimum balance criteria

Leave a Reply

%d bloggers like this: