Question: What Is The Minimum Balance In Allahabad Bank?

Can I open zero balance account in Allahabad Bank?

Savings Account Interest Rates (p.a.) No charges for closure of account….Difference between Savings and Current Account.FeaturesSavings AccountCurrent AccountOverdraft FacilityNoYes4 more rows.

What is monthly average balance in Allahabad Bank?

PSU Banks vs Private Banks A lot of PSU banks like SBI bank, Bank of India, Allahabad bank generally have a lower monthly average balance to be maintained in saving bank account, it’s average limit is up to Rs. 5000 non-Maintenance Charges are very low around Rs. 40-50 only.

Is GST compulsory for current account?

Bank account details can be added later vide amendment of non-core field. Therefore, Current Account is not compulsory for GST Registration. And, you can use either saving account or Current account to register for GST in India.

How is average bank balance calculated?

The daily or monthly average balance is calculated using multiple closing balances over the selected period of time. A simple average balance between a beginning and ending date is calculated by adding the beginning balance and the ending balance together, then dividing that amount by two.

Can I open zero balance account?

You can open a Savings Account, but you don’t have to maintain a minimum balance for it. Despite this, the bank will still provide the usual facilities that come with a regular Savings Account. As the name of the account implies, this is a zero-balance account. Therefore, you do not need to maintain a minimum balance.

How much money should you have in your current account?

A good rule of thumb is to keep at least one month of net pay in your checking at all times. Look for a checking account with no monthly fee and no minimum balance.

What is the minimum balance in Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

Which bank is best for zero balance account?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

Which bank has lowest minimum balance for current account?

Current Account Monthly Average Balance and Withdrawal Limit 2020BankMinimum Average BalanceICICI Bank Smart Business AccountRs. 25,000HDFC Bank Regular Current AccountRs.10,000 per quarterBank of Baroda Baroda Small Business Current AccountQuarterly Average Balance Rs. 2,500SBI Regular Current AccountRs. 10,0002 more rows

Which bank is best for students?

Best Student Bank AccountsChase Bank College Checking Account: Best Overall.Capital One 360 MONEY Account: Best For High School Students.Bank of America Advantage Banking: Best For Encouraging Saving.Discover Cashback Debit Account: Best Fee-Free Account.PNC Virtual Wallet Student Account: Best For Creating a Budget.More items…

What is a minimum balance fee?

In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees. … The bank won’t charge her the service fee because her final balance that day is $1,700.

What if minimum balance is not maintained in Allahabad Bank?

What happens if I do not maintain the minimum monthly balance in my Allahabad Bank account? If the required monthly balance is not maintained in your Allahabad Bank account, a penalty of Rs. 25 will be levied once in a month.

What is the minimum balance in account?

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.

Which is best bank for current account?

Best Banks for Current AccountBanksMaximum Cash Deposit AllowedHDFC BankUp to ₹2 lakhs per month (for regular current account)ICICI BankUp to ₹1.8 crores per monthAxis BankUp to ₹2 lakhs per month (for regular current account)Bank of BarodaUp to ₹1 lakhs per month4 more rows

How can I check my account balance in Allahabad Bank?

You can give a missed call on 09223150150 from your registered mobile number to get Allahabad Bank balance details. Using the missed call service, a customer can view details of up to last 5 transactions.