Typical Minimum Balance for Traditional Savings Account
The typical minimum balance for traditional savings accounts in India changes from bank to bank. Some accounts need a balance. Some let you keep zero balance. Here is how it works with the biggest banks.
SBI is the most popular public bank. Most of its savings accounts have no minimum balance requirement now. SBI switched to zero balance on almost every type of regular savings account. You can open an account and keep it empty. No penalty. Only special versions like the Resident Foreign Account need you to keep $500 or similar, but those are not for normal customers.
ICICI Bank sets a minimum that depends on where you live. If your branch is in a metro or big city, you need to keep ₹15,000 in the account. If you are in a semi-urban branch, it is ₹7,500. Rural branches have the lowest, only ₹2,500. If your balance drops below that, the bank might charge a fee next month. These minimums changed recently. ICICI used to ask for ₹50,000 but lowered it after complaints from customers.
HDFC Bank works similarly. If your branch is in an urban area, you must keep ₹10,000 as the average balance. In semi-urban, it drops to ₹5,000. In rural, it goes down to ₹2,500. Salary accounts and the basic zero-balance variant are exempt. So, if you need the lowest balance, choose a basic savings account or open it at a rural branch.
Here’s a simple table showing minimum balance rules for regular savings accounts at top Indian banks. Figures are for most common account types and branch locations.
| Bank | Metro/Urban | Semi-Urban | Rural | Zero Balance Option |
|---|---|---|---|---|
| SBI | ₹0 | ₹0 | ₹0 | Yes (BSBDA) |
| ICICI Bank | ₹15,000 | ₹7,500 | ₹2,500 | Yes (Basic) |
| HDFC Bank | ₹10,000 | ₹5,000 | ₹2,500 | Yes (Basic) |
Banks can change rules, so always check the account’s terms. They also have basic accounts called "BSBDA" under RBI directions. These let you keep zero balance. They are meant for people who want no charges or do not use the account much. Most people get regular accounts, but if you want no balance pressure, pick the basic account variant.
For most regular savings accounts in metro cities, the typical minimum is between ₹10,000 and ₹15,000. In rural locations, ₹2,500 is common. Public banks like SBI often have no minimum but check before you open, as rules sometimes update. If you do not keep the minimum average balance, private banks can charge fees.
Each bank puts details on their website. If you are not sure which type you need, ask the branch before opening. If you open a salary account, student account, or government-sponsored account, you can skip the minimum balance — those accounts are mostly zero balance now.
Bottom line, minimum balance in India depends on the bank, branch location, and account type. SBI regular accounts are zero balance. ICICI and HDFC require ₹10,000 to ₹15,000 average monthly in cities and less in smaller towns. Go for a basic savings account if you want to avoid any minimum balance rule.
Disclaimer:
The minimum balance requirements for savings accounts in India may vary by bank, branch, and account type. The information provided is based on the latest available details but is subject to change. Always verify the most current terms and conditions directly with the respective bank before opening an account. This content is for informational purposes only and should not be considered financial or legal advice.
