Minimum payment 2.5 % of 8655.90 = 2.5 x 86.559 =$216 and change
The minimum sum of cash balances daily. Example - if your checking account requires a minimum daily collected balance of $500 to avoid a monthly maintenance fee, you must keep your cash balance in your checking account at or above $500.
The minimum amount a bank or other financial institution requires a customer to maintain in his or her account. The institution can set a minimum balance level for any of its accounts, and this amount will vary by institution. Usually, if the required minimum balance is not maintained, the customer is charged various fees for failing to meet the requirements.
A 'No Frills' account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited.
A 'No Frills' account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited.
Minimum Balance account
minimum balance account
The bank expects or rather needs you to maintain a certain minimum balance for them to be at a situation where it not a loss for them to maintain an account for you. Maintaining a bank account for a customer requires certain resources and the bank provides us in return for our commitment that we shall maintain the minimum balance requirements. If we fail to do so, it becomes unfeasible for the bank to provide the facility and hence they charge us a penalty when you go below the minimum balance requirement or '0' for worse case scenarios.
Typically, it requires the minimum of a master's degree in the subject you are teaching.Typically, it requires the minimum of a master's degree in the subject you are teaching.Typically, it requires the minimum of a master's degree in the subject you are teaching.Typically, it requires the minimum of a master's degree in the subject you are teaching.Typically, it requires the minimum of a master's degree in the subject you are teaching.Typically, it requires the minimum of a master's degree in the subject you are teaching.
15.00
For a savings account without a checkbook, Rs500 is the minimum balance required to open and maintain the account. For a savings account with a checkbook, the minimum balance doubles to Rs1,000.
$350 * 6.5% = $22.75
Because each type of account requires a minimum amount to be maintained with the bank. If we fail to do so, the bank has all the rights to charge us fines for not maintaining the minimum balance