AMB is the minimum average of deposits required by customers in their savings bank accounts.Banks have mandated regular saving bank account users to maintain a certain average monthly balance (AMB) in their accounts, failing which they have to bear certain penalty charges.
Average Monthly Balance (AMB) is the minimum average of deposits required by the customers in their savings bank accounts.
Most of the leading banks of the nation such as State Bank of India (SBI), HDFC Bank, ICICI Bank, Punjab National Bank (PNB) and Axis Bank have fixed their AMB according to the location of a customer's account in urban, metro, semi-urban and rural areas and charge customers for non-maintenance of these minimum average balance (MAB) in their savings accounts.
(Transaction Charges On ATM-Cum-Debit Cards Levied By Top Banks)State Bank of India (SBI)SBI, country's largest lender, requires customers with accounts in metro and urban branches to maintain a minimum average balance of Rs 3,000 every month.
Customers with accounts in semi-urban branches and rural branches are required to maintain an MAB of Rs 2,000 andRs 1,000 respectively, according to the bank's website -sbi.co.in.Customers failing to meet the MAB requirements have to bear the following penalty charges:Metro and urban branch (required MAB Rs 3,000)ChargesShortfall <= 50%Rs.
10 + GSTShortfall > 50-75%Rs.
12 + GSTShortfall > 75%Rs.
15 + GSTSemi-urban branch (required MAB Rs 2,000)Shortfall <= 50%Rs 7.50 + GSTShortfall > 50-75%Rs 10 + GSTShortfall > 75%Rs.12 + GSTRural (required MAB Rs 1,000)Shortfall <= 50%Rs 5 + GSTShortfall > 50-75%Rs.
7.50 + GSTShortfall > 75%Rs 10 + GST(As mentioned on SBI's official website)HDFC BankHDFC Bank requires customers with accounts in metro and urban branches to maintain a monthly average balance of Rs 10,000.
The monthly average required in semi-urban and rural locations is Rs.
5,000 and Rs2,500 respectively,according to the bank's website -hdfcbank.comCustomers failing to meet the MAB requirementshave to bear the following penalty charges:Description of ChargesRegular Savings AccountMinimum Average Balance RequirementsMetro / Urban branches: AMB Rs.10,000/-,Semi-Urban Branches: AMB Rs.5,000/- ,Rural Branches: AQB Rs.2,500/- or Fixed Deposit of Rs.
10,000 for minimum 1 year 1 day periodCharges applicable on non-maintenanceBalance Non-Maintenance Charges*AMB SlabsMetro UrbanSemi Urban(in Rs.)AMB Requirement -Rs 10,000/-AMB Requirement Rs.
5,000/->=7,500 to < 10,000Rs.
150/-NA>=5,000 to < 7,500Rs.
300/-NA>=2,500 to < 5,000Rs.
450/-Rs.
150/-0 to < 2,500Rs.
600/-Rs.
300/-* plus taxes as applicableAMB Average Monthly BalanceAQB Slabs (in Rs.)Balance Non-Maintenance Charges* (per quarter) - Rural Branches>= 1000 < 2,500Rs.
270/-0 - <1000Rs.
450/-*plus taxes as applicableAQB Average Quarterly BalanceMinimum quarterly average balance (QAB) and charges for not maintaining of QABArea Of BranchMinimum Quarterly Average BalanceIncidental ChargesRuralRs 1000From Rs.
25 to 250 as per location, category and deficit in QAB as per brackets in Rs 100sSemi- UrbanRs 2000UrbanRs 2000MetropolitanRs 2000(As mentioned on PNBs official website)Axis Bank:Axis Bank requires customers to maintain a MAB of Rs 10,000,according to the bank's website - axisbank.comCustomers failing to meet the MAB requirementshave to bear the following penalty charges:Monthly Average BalanceRs 10,000If Monthly Average Balance is not maintainedRs.
10 per Rs.100 of the shortfall from Average Monthly Balance Requirement or Rs 500, (plus GST) whichever is lower with a minimum charge of Rs 100However, there are certain accounts where AMB rules are not applicable.
These accounts are called as zero balance savings accounts.For the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh, Rajasthan, Mizoram, Chhattisgarh, Telangana, like us on Facebook or follow us on Twitter for updates.