Can MAB be carry forwarded month by month?

[SiddharthR]

If I have ₹5,00,000 currently in my account for a month. And MAB is ₹2,00,000.
Will still I have to maintain the the Balance for next month?

 

[kochiro]

Criteria is quarterly atleast in case of banks like hdfc. Once they upgrade your account to classic or preferred then you can even manage 0 balance or 1 lac depending on your RM

 

[SiddharthR]

Criteria is quarterly atleast in case of banks like hdfc. Once they upgrade your account to classic or preferred then you can even manage 0 balance or 1 lac depending on your RM

I have HDFC Savings Max Account, will bank charge me if I don't maintain the ₹25,000 MAB?

 

[dhshankar]

MAB is monthly average balance which needs to be maintained monthly . The higher balance calculation will not be forwarded for next months .

This means if you maintain 5L as closing balance for all days in July, then your MAB would be 5L for July, and you maintain 1L as closing balance in month of august , then your MAB would be 1L

 

[kochiro]

I have HDFC Savings Max Account, will bank charge me if I don't maintain the ₹25,000 MAB?

Yes you can check savings max page for charges

 

[SiddharthR]

MAB is monthly average balance which needs to be maintained monthly . The higher balance calculation will not be forwarded for next months .

This means if you maintain 5L as closing balance for all days in July, then your MAB would be 5L for July, and you maintain 1L as closing balance in month of august , then your MAB would be 1L

Ok thanks for reply