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What is a Minimum balance fee?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
What is the minimum balance that must be paid in order to avoid accruing interest on the account?
The minimum balance that must be paid to avoid accruing interest on the account is the amount specified by the bank or financial institution.
What happens if you open an account but it has no money?
Some banks offer zero account balance accounts. In them you need not maintain any minimum balance to run the account. But in most cases each bank would have a minimum amount that needs to be maintained. For example in a Nationalized Bank in India where the account gives you features like cheque book, ATM card etc, the minimum balance is 1000 rupees. In case you fail to maintain the minimum balance then the bank has the rights to charge a penalty. This would be charged on a monthly basis based on the number of times your account has failed to maintain the min balance.
What is a minimum balance when it comes to account requirement?
A minimum balance is the lowest amount of money that must be maintained in an account, such as a savings or checking account, to avoid fees or to earn interest. Banks often impose this requirement to ensure account holders maintain a certain level of funds. Failing to meet the minimum balance can result in monthly maintenance fees or loss of account benefits. It's important for account holders to be aware of these requirements to manage their finances effectively.
Do most high interest saving accounts require a minimum balance?
Yes, most high interest savings accounts require a minimum balance. Since it is high interest, it is usually a high minimum account balance as well.
How many digits for SBH account number?
11 digits for SBH account number.
What is the minimum balance required for STI account?
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.
How can i open NRI account in sbh bank?
You can walk into SBH branch and ask for opening an NRI account. They would need the following:Proof of employment and income overseas (Atleast a deputation letter from your employer that you will be posted abroad and will be earning in foreign currency)Local Id and Address proofPassport copyPhotographs andInitial Deposit money - Most NRI accounts have a minimum balance requirement of say Rs. 10000 or more.
What is a minimum balance?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
How is your account balance different from your minimum?
300000
What is a Minimum balance fee?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
With which type of account is a minimum balance fee associated?
Checking account
What is a frill account?
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.
How can you check your sbhaccount onlie?
how can i check my sbh account online
How is your account balance different from your minimum balance?
Potato farms are STILL alive!
What is the difference between saving account and salary account in bank?
In Salary Account 0 balance is allowed and in saving account minimum balance required
Is there a bank that will allow you to open an account with no penalties for minimum balance?
No. If the bank mentions a minimum balance, if you do not maintain it, it would charge you the penalty.
