Minimum Bank Balance Rules: Not only ICICI, these banks also have rules for maintaining a hefty minimum balance..

There is a debate going on in the country about the minimum balance of the bank. Recently, ICICI Bank has made the minimum balance in the savings account a rule of ₹ 50,000. Meanwhile, on August 11, the Reserve Bank of India (RBI) Governor also gave his opinion on increasing the minimum amount for non-salary accounts by ICICI Bank. He has clarified that the RBI has left it to the banks to decide what kind of minimum balance they want to keep. It does not come under any regulatory jurisdiction.

In such a situation, if you also feel that the minimum balance of ₹ 50,000 set by ICICI Bank in the savings account is the highest, then it is not so. We are telling you about some such banks operating in the country that have kept the rule of keeping a minimum balance of up to Rs 1,50000. So let us know which banks these are.

1. HSBC Bank

HSBC is a large multinational banking and financial services organization. Formed in 1865, it serves millions of customers worldwide. HSBC is headquartered in London, but it has strong historical and business ties with East Asia.

The bank has set a rule to maintain an average quarterly balance of ₹150,000 or more in savings accounts. Senior citizens are required to maintain ₹10,000 in savings accounts and current accounts.

2. Bank of America
Bank of America has a rule to maintain a minimum balance of $500 (about Rs 43,900) every day. According to this, about $1500 will have to be kept in a month. Bank of America is one of the world's leading financial institutions, which provides banking services to individuals, small and medium market businesses, large corporations, and governments. Its headquarters is at the Bank of America Corporate Center in Charlotte, North Carolina.

3. Citibank
Citibank savings account requires a minimum balance of ₹1,00,000. Citi Priority Account requires a minimum balance of ₹15,00,000, and CitiGold Private Customer Account requires a minimum balance of ₹5 crore.

Why do banks charge for not maintaining a minimum balance?
Nowadays, banks provide various facilities like ATM, mobile banking and customer support. Banks also have to maintain their offices. They also have to pay their staff. Along with this, it also has to ensure that all digital services run smoothly. Therefore, banks fulfil these requirements by charging various types of charges.

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