Did HDFC Bank Increase the Average Minimum Balance for Savings Accounts?
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Synopsis
HDFC Bank reassures customers that the Average Monthly Balance requirements for savings accounts remain unchanged. This clarification comes amid rumors about increased balances in metro branches. Meanwhile, other banks are adjusting their policies, creating a dynamic banking environment.
Key Takeaways
- HDFC Bank has not increased the Average Monthly Balance requirement for savings accounts.
- The AMB remains Rs 10,000 for regular accounts and Rs 25,000 for savings max accounts.
- ICICI Bank has revised its MAB requirements due to customer feedback.
- All savings account variants are available across various branch types.
- Maintaining a balance below the AMB may lead to penalties.
New Delhi, Aug 14 (NationPress) HDFC Bank issued a statement on Wednesday affirming that there has been no increase in the Average Monthly Balance (AMB) for savings accounts. This announcement comes in response to reports claiming that new account holders in metro or urban branches would be required to maintain an average AMB of Rs 25,000.
According to the bank, the AMB requirement for regular savings accounts and 'savings max accounts' remains unchanged at Rs 10,000 and Rs 25,000, respectively.
As the largest private sector bank in India, HDFC Bank provides a variety of savings account options tailored to different customer profiles, each with its own AMB requirements based on the associated value-added services.
All account variants are accessible across rural, semi-urban, urban, and metro branches depending on customer profile.
In line with the needs of customers in metro locations, the bank emphasized that they will focus on offering the Savings Max Account to new customers opening accounts in metro branches.
In contrast, ICICI Bank, another private lender, has recently moderated its MAB requirements, reducing the amount from Rs 50,000 to Rs 15,000 for new customers in metro and urban areas following significant public backlash.
Earlier this month, ICICI Bank had raised the MAB requirement for new customers in urban areas from Rs 10,000 to Rs 50,000.
Additionally, the minimum balance requirement for new customers in semi-urban areas has been changed from Rs 25,000 to Rs 7,500.
For rural areas, the MAB has been decreased from the previously advised Rs 10,000 to Rs 2,500.
However, ICICI Bank has made it clear that customers who maintain a balance below the specified limit will incur a penalty.
Point of View
It's vital to appreciate how banks navigate customer expectations while ensuring their service offerings remain competitive.
NationPress
30/08/2025
Frequently Asked Questions
What is the current Average Monthly Balance for HDFC Bank savings accounts?
The Average Monthly Balance for regular savings accounts is Rs 10,000, while for savings max accounts, it is Rs 25,000.
Did HDFC Bank increase its AMB requirement?
No, HDFC Bank has confirmed that there has been no increase in the Average Monthly Balance requirement.
What are the AMB requirements for ICICI Bank?
ICICI Bank has adjusted its MAB requirements, lowering them for new customers in metro and urban areas to Rs 15,000.
What happens if I maintain a balance below the AMB?
If customers maintain a balance below the prescribed limit, they will incur a penalty.
Are the savings account variants available in rural areas?
Yes, HDFC Bank offers various savings account variants across rural, semi-urban, urban, and metro branches.
