InvestorQ : I opened a basic savings bank deposit account at a public bank. Will I also be required to fulfill the monthly average balance requirement?
Ishita Jain made post

I opened a basic savings bank deposit account at a public bank. Will I also be required to fulfill the monthly average balance requirement?

Answer
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Anusha Savla answered.
1 year ago


A basic savings bank deposit account should not attract any monthly average balance requirement. Hence, you would not be expected to maintain the average balance.

However, given that these rules are at the sole discretion of the banks, it is important that you check the same with the bank authorities so as to not falter on maintaining the average balance.