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Zero balance account doesn’t ask you to maintain minimum amount, but mind the tr

Non-maintenance of minimum balance is set to become a costly affair, as some of the private lenders have revised their charges effective 1 August. While Axis Bank and Kotak Mahindra Bank will charge a penalty based on the type of account, Bank of Maharashtra has increased its minimum balance requirement from ₹1,500 to ₹2,000.

Most major banks charge for non-maintenance of minimum average…