The term Average Minimum Balance or AMB refers to the smallest amount you need to maintain in your savings account to avoid being charged non-maintenance fees.

Savings Bank Account Minimum Balance Charges: State-run banks have recently charged their customers a total of approximately ₹8.495 crore for not maintaining the minimum balance in their accounts. However, India's largest bank, State Bank of India (SBI), stands out as it does not charge any fees for not maintaining a minimum balance, even as other state-owned banks continue to charge customers. Notably, Punjab National Bank (PNB) alone has collected the highest penalty of ₹1,538 crore from its customers in the last five years. Not sure how much your bank charges for not maintaining a minimum balance? We have broken the charges imposed by the big banks. Here are the charges levied by SBI, HDFC, ICICI, Yes Bank and PNB:

ICICI Bank: With this banking institution, customers are required to keep a minimum of Rs 5000 in their account at all times. However, if the required balance is not maintained, the bank will levy a penalty. This includes a penalty of Rs 100, plus an additional 5% of any shortfall in the required minimum average balance (MAB).

HDFC Bank: For HDFC Bank, individuals residing in metro and urban areas must maintain a monthly balance of Rs 10,000 or Rs 1 lakh in a fixed deposit for a period of one year plus days. In semi-urban areas, the monthly balance is lower, Rs 5,000 or a fixed deposit of Rs 50,000 for the same deposit tenure. Failure to meet these criteria will incur a penalty – the lesser of 6% or Rs. 600, is the lesser of the two.

Punjab National Bank: In rural areas, you will be charged Rs 400 if you do not maintain the required minimum balance in your account. In semi-urban locales, this charge goes up to Rs 500. And if you live in an urban or metropolitan area, it costs Rs 600.

Axis Bank: A Basic Savings Account does not charge you anything if your balance falls below the minimum requirement. That being said, if you are in a metro or urban area, they will charge you a fine of Rs 600 to Rs 50. For those in semi-urban areas, the fine will be Rs 300 to Rs 50. In rural areas, you can pay Rs. 150 to Rs. Expect to pay anywhere between $75.

Banks charging any non-minimum deposit charges:

YES BANK: The bank does not charge any minimum balance from its customers.

State Bank of India: Starting from the year 2020, SBI has decided to relax by removing any charges previously imposed on customers for not maintaining minimum balance in their savings accounts.