Online banking has become an indispensable part of our lives, especially for businesses, in today\u2019s digital age. IndusInd Bank like other banking institutions in India, offers online current accounts tailored to meet the diverse needs of businesses. One of the key charges that account holders need to be aware of is non-maintenance charges applicable when the Average Monthly Balance (AMB) to be maintained in the account is not met. It is highly important to understand these charges for businesses to effectively manage their finances. Let\u2019s get into further details in this blog.<\/p>\n\n\n\n
Fees levied by a bank when the account holder fails to maintain the prescribed minimum balance in their current account is referred to as non-maintenance charges. All the banks set a specific AMB requirement for their current accounts. The bank imposes non-maintenance charges if the average balance falls below this threshold during a particular month.<\/p>\n\n\n\n
IndusInd Bank clearly outlines the non-maintenance charges associated with its online current accounts. Non-maintenance charges may vary depending on factors such as the type of current account. It is essential for account holders to understand the exact charges related to their account type by reviewing the specific terms and conditions applicable. Listed below are the non-maintenance charges levied by IndusInd Bank on their prominent current account types.<\/p>\n\n\n\n <\/p>\n\n\n\n There are several strategies businesses can employ to minimize non-maintenance charges levied by banks such as regular monitoring of account balance, optimal fund allocation and utilizing sweep-in facility. Let\u2019s take a closer look at some measures.<\/p>\n\n\n\nAccount Type<\/strong><\/td> Charges for Non-Maintenance<\/strong><\/td><\/tr> Indus Select Current Account<\/td> 10% of the shortfall in required AQB as per program, subject to max of \u20b9900<\/td><\/tr> Indus Premier Current Account<\/td> \u20b91000 per month if AMB is >=50% but <100% & \u20b91500 per month if AMB is <50%<\/td><\/tr> Indus Tarakki Current Account<\/td> Rs. 600 per month, if required transaction is not done in a month<\/td><\/tr> Indus Freedom Current Account<\/td> Rs 600\/- per month, if required transaction is not done in a month<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Managing Non-Maintenance Charges<\/strong><\/h2>\n\n\n\n