InvestorQ : My office opened a no-frills savings account for me when I joined the organisation. Will I also be required to fulfill the monthly average balance requirement?
Tanu Shukla made post

My office opened a no-frills savings account for me when I joined the organisation. Will I also be required to fulfill the monthly average balance requirement?

Answer
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Pratik vyas answered.
1 year ago


A no-frills savings 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.