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What is the 3-in-1 account minimum balance requirements?

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Most banks offering 3-in-1 account asks for a Minimum Monthly Average Balance (MAB) in the saving bank account. The amount varies from the bank to the bank. For example:

3-in-1 Account Minimum Balance

Bank

Minimum Balance

ICICI Bank

Metro and Urban locations - Rs 10,000
Semi-urban locations - Rs 5,000
Rural locations - Rs 2,000

Gramin locations - Rs 1,000

HDFC Bank

Metro and Urban locations - Rs 10,000
Semi-urban locations - Rs 5,000
Rural locations - Rs 2,500

Note: Not maintaining the minimum balance results in penalties by the bank. For example, ICICI Bank charges a penalty of Rs 100 + 5% of the shortfall in required MAB every month. HDFC charges Rs 100 to Rs 600 per month.


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