Question: Can we have zero balance in Indian bank?

Customers of the Indian Bank zero balance account don’t have to keep any minimum balance on a monthly or quarterly basis. Also, the zero balance feature is available for individuals residing in the urban and rural centres and no penalty is charged for not keeping any balance.

What is the minimum balance in Indian Bank?

To maintain an Indian Bank Savings account, you require a minimum balance of Rs. 250 for non cheque operation and Rs. 500 for cheque operation. Indian Bank personalized account number and cheque book enhances security and ensures your money is safe.

What happens if minimum balance is not maintained in Indian Bank?

In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges would be recovered under intimation to the account holder.

What is the minimum balance in Indian Bank 2021?

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

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List of Savings Account Banks Minimum Balance Required(INR) Savings Account Interest Rates (p.a.)
Indian Bank 250/500/1000 3.00%
Indian Overseas Bank 500-1000 3.25% – 3.50%
IndusInd Bank 0/10000/25000/2500000 4.00% – 6.00%
Jammu & Kashmir Bank 0/500/1000 3.00%

In which bank we can maintain zero balance account?

Top Zero Balance Savings Accounts, 2021

Top Zero Balance Savings Account
Account Name Interest Rate (up to Rs 1 lakh)
Standard Chartered Bank Aasaan 2.75%
HDFC Bank BSBDA 3.00%
State Bank of India BSBDA 2.70%

What is minimum balance?

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.

What is the limit of saving account?

There is no ceiling on maximum balance in Savings Bank account, except for Minors account and BSBDA-Small Account.

What is the maximum limit of saving account in India?

Thus, as cash deposits and withdrawals of Rs 10 lakh or more in a bank account in a financial year are required to be reported to the tax authorities, you need to be careful if you are exceeding the prescribed threshold. This limit is Rs 50 lakh and more in case of current accounts.

Which bank account is best in India?

The savings bank account offered by Kotak Mahindra Bank is appropriate for those who want a higher interest account with zero balance facility. The 811 Edge account of Kotak is one of the best savings accounts that this bank has offered.

How much interest do Indian banks pay?

Comparison of FD Rates

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Name Highest Interest rate
AXIS Bank 2.50% – 5.75% 3 months – 10 years
SBI Bank 2.90% – 5.40% 3 Months – 10 Years
Equitas Bank 3.50% – 6.50% 3 months – 10 years
Bajaj Finance 5.65% – 6.50% 1 year – 5 years

Who is owner of HDFC?

Which banks have no minimum balance?

These Banks Offer Free Checking Accounts With No Minimum Balance

  • Capital One 360 Free Checking. …
  • Ally Interest Checking Account. …
  • Schwab Bank High Yield Investor Checking Account. …
  • NBKC Personal Checking Account. …
  • Discover Cashback Debit. …
  • Chime Bank Account. …
  • Simple Checking Account. …
  • USAA Free Checking.

What is the minimum balance charges in HDFC?

Minimum Balance Requirements

Balance Non-Maintenance Charges*
AMB Slabs (in Rupees) Metro & Urban Semi Urban
>=5,000 to < 7,500 Rs. 300/- NA
>=2,500 to < 5,000 Rs. 450/- Rs. 150/-
0 to < 2,500 Rs. 600/- Rs. 300/-