Minimum Balance Rules Of State Bank of India (SBI), HDFC Bank, ICICI Bank

Regular savings bank accounts require customers to maintain a certain minimum average balance (MAB) every month. Leading banks such as State Bank of India (SBI), HDFC Bank and ICICI Bank have fixed their monthly average balance requirements according to the location of a customer's account in urban, metro, semi-urban and rural areas. Customers who fail to maintain the monthly average balance in their savings account, have to pay a penalty to the bank, which varies according to factors such as branch location.

Here's a comparison of the minimum average balance in SBI, HDFC Bank and ICICI Bank:

State Bank of India (SBI)

Customers having a regular savings bank accounts in SBI branches located in metro and urban areas are required to maintain a monthly average balance of Rs. 3,000, said the country's largest lender on its website, sbi.co.in. Customers with SBI savings accounts in semi-urban and rural branches are required to maintain a minimum average balance of Rs. 2,000 and Rs. 1,000, respectively.

HDFC Bank

Customers having a regular savings account in HDFC Bank branches located in metro and urban areas are required to maintain an average monthly balance of Rs. 10,000, according to hdfcbank.com. In semi-urban branches, the regular savings account holders are required to maintain an average balance of Rs. 5,000 every month. In rural branches, the customers are required to either maintain an average quarterly balance (AQB) of Rs. 2,500 or set up a fixed deposit of Rs. 10,000 for a maturity period of a minimum one year and one day.

ICICI Bank 

Customers having a regular savings account in ICICI Bank branches located in metro and urban areas need to maintain an average monthly balance of Rs. 10,000, according to the bank's website - icicibank.com. The average monthly balance required in semi-urban, rural and gramin locations is Rs. 5,000, Rs. 2,000 and Rs 1,000 respectively. 

However, banks also provide several savings accounts which do not require the customer to maintain any particular minimum balance every month.