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?
It depends completely on the bank.
Quarterly Average Balance (QAB) means minimum balance of 3 months.
Monthly Average Balance (MAB) means minimum balance of 1 month.
It is not fixed but gets revised from time to time.
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 Name
Minimum Balance Amount (QAB/MAB)(₹)
CHARGES for not maintaining QAB / MAB(₹)
SBI (State Bank of India)
NIL
NIL
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 Bank
500 / 1,000 (MAB)
25 to 45
Indian Bank
1,000 /2,500 (MAB)
10 to 100
Indian Overseas Bank
500 / 1,000 (QAB)
75 to 150
ICICI Bank
2,000 / 5,000 / 10,000 (MAB)
250 to 350
Axis Bank
10,000 for Urban (MAB)
5 per 100 of the shortfall + 75
HDFC Bank
2,500 / 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
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:
Area
Rural
Semi Urban
Urban & 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:
Area
Rural QAB charge
Semi Urban QAB charge
Urban & 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):
Area
Urban / Rural
Metro / 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:
Area
Urban / Rural QAB charge
Metro / Urban QAB charge
‘Charges per Quarter’ for Not Maintaining Minimum Balance
Rs. 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:
Area
Rural / Semi-Urban
Metro / 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:
Area
Rural / Semi-Urban QAB charge
Metro / Urban QAB charge
Charges per Quarter
Rs. 100/-
Rs. 200/-
Slab 1
Rs. 250 to Rs. 499 : 50%
Rs. 500 to Rs. 999 : 50%
Slab 2
Rs. 100 to Rs. 249 : 80%
Rs. 250 to Rs. 499 : 80%
Slab 3
Below 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:
Area
Rural
Semi Urban
Metro / 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:
Area
Rural MAB charge
Semi Urban MAB charge
Metro / Urban MAB charge
MAB >= 50% of Minimum balance
Rs. 250/-
Rs. 250/-
Rs. 250/-
MAB < 50% of Minimum balance
Rs. 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:
Area
Rural
Semi Urban
Metro / 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:
Area
Rural MAB charge
Semi Urban MAB charge
Metro / Urban MAB charge
Charges per Month
—
—
Rs. 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:
Area
Rural QAB
Semi-Urban MAB
Metro / Urban MAB
HDFC Minimum MAB & QAB
Rs. 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:
Area
Rural QAB charge
Semi-UrbanMAB charge
Metro / UrbanMAB charge
Slab 1
QAB = 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 2
QAB < 1000 : Charge – Rs. 450/-
MAB < 2,500 : Charge – Rs. 300/-
MAB >=5,000 to < 7,500: Charge – Rs. 300/-
Slab 3
MAB >=2,500 to < 5,000: Charge – Rs. 450/-
Slab 4
MAB < 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:
Area
Rural MAB
Semi-Urban MAB
Metro / Urban MAB
BOM Minimum MAB
Rs. 500/-
Rs. 1,000/-
Rs. 2,000/-
HDFC savings account Minimum balance criteria
‘Charges per Month’ for not Maintaining MAB in BOM:
Area
Rural MAB charge
Semi-UrbanMAB charge
Metro / UrbanMAB charge
Slab 1
MAB >=250 to < 500: Charge – Rs. 10/-
MAB >=500 to < 1,000 : Charge – Rs. 25/-
MAB >=1,000 to < 2,000: Charge – Rs. 38/-
Slab 2
MAB >=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 Banksavings account Minimum balance criteria and charges for not maintaining Minimum balance
Canara Bank savings account Minimum balance criteria: