Savings Accounts
IDFC First Bank slashes savings account rates by up to 200 bps on select slabs
IDFC First Bank has reduced interest rates on savings accounts by up to 200 basis points, effective January 9. Balances between ₹1 lakh and ₹10 lakh will now earn 5%, while higher slabs see minimal changes. The move reflects banks' struggles to attract deposits amid rising credit growth.
1 min read8 Jan 2026ICICI Bank minimum account balance: Revised charges, who's impacted, penalty, more - All FAQs answered
ICICI Bank minimum account balance: ICICI Bank has revised its minimum balance requirements, reducing urban and metro areas to ₹15,000 and semi-urban to ₹7,500. Rural areas now require ₹2,500.
2 min read14 Aug 2025ICICI Bank vs SBI vs HDFC Bank: How much minimum balance do you need to maintain, and what is the penalty?
Here is a comparison between minimum balance requirements of ICICI Bank vs State Bank of India vs HDFC Bank and how much penalty you have to pay if you fail.
2 min read13 Aug 2025Minimum monthly balance rule in private banks: How much to maintain in HDFC, ICICI, Axis and other savings accounts
The average balance requirement is ₹2000 to ₹100000 in urban centres. Non-maintenance fee varies from ₹150 to ₹1000; private banks also offer ‘zero balance’ savings accounts
4 min read12 Aug 2025Mint Explainer: Why has ICICI Bank hiked its minimum balance requirement 5X?
ICICI Bank wants to be customers' primary bank—no more maintaining a savings account with a low balance in the country's second-largest private bank.
4 min read11 Aug 2025ICICI Bank hikes minimum balance to ₹50,000 on savings account: What does it mean?
ICICI Bank has increased the minimum average balance for new savings accounts effective August. Metro and urban areas require ₹50,000, semi-urban branches ₹25,000, and rural branches ₹10,000.
1 min read9 Aug 2025Customers want returns. PSBs are waiving the minimum balance levy.
PSBs are making a last-ditch attempt to retain customer deposits by dropping penalties for not maintaining a minimum balance in savings accounts.
4 min read18 Jul 2025Good news for PNB customers! No more penalty if you can't maintain minimum savings account balance — What this means
Like most other lenders, PNB also used to levy certain amounts of penalties from its customers if they did not maintain the minimum account balance.
1 min read2 Jul 2025Canara Bank scraps penalty on minimum average monthly balance for THESE accounts from June 1 onwards
Canara Bank has announced a waiver on average monthly balance requirements for all savings accounts starting June 1, 2025. This change aims to eliminate penalties and provide support to a diverse customer base, including NRIs and first-time users.
1 min read1 Jun 2025Savings rates have dropped to 2.7%. Here's how to make your money work for you again
Most people think their money is safe in the bank—but with real returns turning negative thanks to inflation, it’s time to consider these six alternatives that balance safety, liquidity and performance.
5 min read16 Apr 2025