2023 2024 Student Forum - Ing Vysya Bank Account Opening Minimum Balance

Important changes to the minimum balance maintenance requirements in Savings Bank Account of ING Vysya Bank (now Kotak Mahindra Bank):

Effective April 01, 2015, the following changes will be applicable to your Savings Bank account:

1. The minimum average balance to be maintained in account, changes from Quarterly Average Balance (QAB) to Average Monthly Balance (AMB).

2. Reduced fee for non-maintenance of AMB in Savings bank account

3. If the amount maintained by one in Savings bank account is less than the required AMB, one shall receive a reminder email and/ or SMS, requesting to restore the balance to avoid fee towards non-maintenance of AMB.

4. If one does not maintain the AMB for the next month in Savings bank account, i.e., non maintenance for two consecutive months, fee towards non maintenance for those months is charged to account.

Schedule of Non-maintenance charges for various Savings Account Variants

Product Description AMB requirement AMB Non-maintenance charges (in Rs.)
(1st April onwards)
Less than 50% of min Greater than or equal
AMB Maintained to 50% of min AMB
maintained

Platina Senior Savings Account 100,000 500 400
Platina Savings Account 100,000 500 400
Zwipe Savings Account 25,000 400 300
Zwipe Senior Savings Account 20,000 400 300
Zwipe Classic Savings Account 20,000 400 300
Orange Savings Account 10,000 400 300
Orange Savings Account - Non Metro 5,000 400 300
General SB Account 5,000 250 200
Zing Kids Savings Account 2,500 100 75
General SB Account - Semi Urban 2,500 150 100
Senior Savings Account 2,500 150 100
General SB Account - Rural 1,000 100 75
Solo – Single 500 100 75
Private Client Group Savings Account 100,000 500 400

Ing Vysya Bank Account Opening Minimum Balance
https://management.ind.in/img/p/Ing-...-Balance-1.jpg
https://management.ind.in/img/p/Ing-...-Balance-2.jpg