minimum average balance
Philip Mathew (113 Points)
19 October 2017
what is the minimum average balance to be maintained in zero balance saving bank account of S.B.I.
Philip Mathew (113 Points)
19 October 2017
RAJA P M
("Do the Right Thing...!!!")
(127483 Points)
Replied 19 October 2017
Rs. 3000....
Also it's different from one area to another Area like Rural, Urban and Semi Urban". Ask to your branch...
@ Ashwin Kumar.,
the 5000 reduced to 3000 after the problem on Demonitization
Philip Mathew
(113 Points)
Replied 19 October 2017
RAJA P M
("Do the Right Thing...!!!")
(127483 Points)
Replied 19 October 2017
| Originally posted by : Philip Mathew | ||
 |
can anyone explain ZERO BALANCE ACCOUNT. if the minimum is rs. 5000.00 its for urban area and the other for rural one. Only F.M AND P.M can give clarification. |  |
I think both are not members in CCI portal...
You ll try to twitter... Both are in Twitter. But, Not sure in my knowledge...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161016 Points)
Replied 19 October 2017
Some private banks operate 'Zero Balance Account' as a product to attract more business........ in which the account holder is not required to maintain any balance......... e.g Salary accounts.....
SBI till last FY were operating 'normal saving account' as 'zero balance account' but have changed this product to minimum balance account, in this april, with minimum AQB to be maintained as said above.
So, if your account has not changed to 'normal account' or any other product.... and is still/truly 'zero balance account'; ...... you are not liable to maintain any minimum balance.
Better check the present conditions applicable to the account with your bank itself. Refer latest terms and conditions with applicable fees and charges associated with the product and don't go with its 'label'.
Murali Nadarajah
(179 Points)
Replied 19 October 2017
Literally speaking ZERO but for safe and sound better to clarify with your branch
Philip Mathew
(113 Points)
Replied 19 October 2017
CAclubindia
