Minimum balance in bank a/c

[jay singh]

These days every bank is gobbling up the depositors hard money on the pretext of "minimum balance"not maintained. This is happening inspite of the fact that there has no been any communication between the depositors and the bank.
Will any member of this portal share the views ? Dr kaushal pathak's personal attention is also being drawn up on this issue and with a request to guide the grieved fellows with his expertise on the concerned subject.
Regards
jay singh

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[ambrish.p]

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Jay ji

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regards

[Dr. M. Faiyazuddin]

How can you be helped under RTI?

[DK Sharma]

THe minimum balance is calculated as average of three months balance. If your balance dropped below the prescribed limit for few days, there will not be any penalty if you put an amount so that when tree months average is calculated, it should be above the minimum required balance.
Alternately tell your bankers that you will close your account if the penalty is not waved off..In private banks they set a minimum limit of Rs 5000 to 10, 000 where as in public sector banks it is Rs 1000 only.