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Is there a minimum account that you need to keep in a savings account?
Wiki User
∙ 12y ago
It depends on the type of savings account you have. Usually banks don't expect a minimum balance if your account is a salary account. However, depending on the country and bank the number would vary. For ex: nationalized banks expect approximately Rs. 1000 for normal savings accounts while private banks expect much higher minimum balances.
Wiki User
∙ 12y ago
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Will I need to keep a minimum balance of child savings account?
No, most banks in UAE do not ask for an minimum balance in a savings account. However, you must check with your bank for exact details.
What is minimum cash balance policy?
This is the minimum amount of cash that you need to keep in your bank account in order to keep your account open or receive interest. In most cases, it is a relatively small amount.
What are the uses of a savings account?
a savings account is were you put money for future use if need be and for safe keeping
How much is an account at beneficial savings bank?
To have an account at Beneficial Mutual Savings Bank you need to deposit at least$50. The interest is compounded daily. It has the best rates also. Good place to have an account.
What is a passbook savings account?
Passbook savings account is the savings account where all record of credits and debits, including deposits, withdrawals, and interest, are recorded on a passbook usually kept by the account holder. Passbooks are routinely updated with the necessary information by the bank. This type of account is well suited for those depositors who transact infrequently on their account and who don't have a need for a monthly statement.
Will I need to keep a minimum balance of child savings account?
No, most banks in UAE do not ask for an minimum balance in a savings account. However, you must check with your bank for exact details.
How can you qualify for community savings?
It really depends on what type of account you wish to open at community savings bank. If you simply want to open a savings account, then you only need the minimum deposit of 10.00 to open it! If, however, you wanted to qualify for a checking account, you would need the $400.00 minimum balance required.
Saving account minimum balance of ICICI?
It depends on the type of account you have. For ex:For a regular savings account you need a quarterly minimum balance of Rs. 10000/-For a Salary account - it is '0'For a Savings account with a Gold Debit card - it is Rs. 50000/- quarterly balanceEtc.
Whats the difference between an orange account and a regular savings account?
An orange account earns high interest, there are no fees attached and you do not need a minimum balance in your account. Most regular savings accounts have a minimum balance and really low interest rates.
If the interest rate on a savings account is 0.02 approximately how much money do you need to keep in this account for 1 year to earn enough interest to cover a single 9.99 Below-Minimum-Balance Fee?
5500
How much does it cost to own a savings account?
In India owning a savings account is free. There are no charges to open or maintain an account but you need to maintain a minimum balance as per the banks regulations & features offered. For a basic savings account Rs. 500 would be a minimum balance. For accounts with ATM cards and cheque books it would be Rs. 1000 or even more based on the bank. If you fail to maintain the minimum balance, the bank has the right to charge a penalty on your account.
What is minimum cash balance policy?
This is the minimum amount of cash that you need to keep in your bank account in order to keep your account open or receive interest. In most cases, it is a relatively small amount.
Where can you get the best savings account in your area?
The TCF bank usually gives you $100 for opening an account with them. They are also open on Sundays. They dont have a minimum amount of cash that you need to have in your account either, which is very nice.
What are the uses of a savings account?
a savings account is were you put money for future use if need be and for safe keeping
How much money do you need to open a bank account with union bank?
It depends on the type of account you open with them. For ex:Multi Gains Savings account needs a Rs. 25000 minimum balanceNo Frills Savings account - Rs. 25 but the total deposits in one year into the account cannot exceed one lakhThe minimum deposit would vary from one account type to another. If you visit their branch they can tell you exactly how much is required depending on the type of account you choose.
How much money do you need to open a savings account?
Most bank require small deposits to open an account, but larger deposits to keep the account open and not earn service charges.
What are some benefits of storing money in a high rate savings account?
One benefit of using a high rate savings is having low to no minimum balance so one does not need to worry about maintaining a certain balance in the account. The main benefit of this type of account, however, is the high interest rate on the account which means one's money will generate more interest than in regular savings accounts.
