Bank’s Major Rule Change: 6% Penalty on Balance Below ₹10,000 From Sept 20

A new banking rule will start from 20 September. Account holders must now keep a balance of at least ₹10,000 in their savings account. If the balance is less, the bank will charge a 6% penalty on the shortfall amount.

New Rule on Minimum Balance

Every account must have at least ₹10,000. If the amount is below this, the bank will cut 6% of the shortage as a fine. Many people who use all the money in their account may face this problem.

Why This Rule Was Introduced

The Reserve Bank of India shared that this rule is for better account management. It will help banks keep good liquidity and reduce issues of zero balance. This will also make customers more careful in managing money.

Who Will Be Affected

This rule will mostly affect account holders in urban and semi-urban branches. In these areas, the balance requirement is higher. Rural accounts and some special types may not be under this rule. But most account holders will have to follow the ₹10,000 rule.

Penalties

The penalty is 6% of the shortfall. Example:

Required Balance	Balance Present	Shortfall	Penalty (6%)
₹10,000	₹7,000	₹3,000	₹180

So, if you keep only ₹7,000 instead of ₹10,000, you will pay ₹180 as a penalty.

Steps That Customers Should Take

To avoid penalty, customers must keep the balance above ₹10,000. They can check the balance often, set SMS or app alerts, and avoid withdrawing too much money. Careful planning will help save extra charges.

Conclusion

From 20 September, all bank customers must follow the new minimum balance rule. Keeping ₹10,000 in your account is now very important. Plan and manage your savings well to avoid paying a 6% penalty.

Disclaimer: This article is for general information only. Banking rules may change, and some customers may be exempted. Please check with your own bank for the latest updates before making decisions.

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