YES Bank Saving Account Minimum Balance Limit & Charges

Established in 2004, Yes Bank is the fourth largest private bank in the country. The bank offers a wide range of financial products that are customised to cater to the needs of different categories of customers. Even as the world gets hooked on to mobile and internet banking, savings bank account remains a popular saving tool.

The facilities offered by Yes Bank with a savings bank account is a good example why people feel that such accounts are a great way to park one’s earnings. Simple to manage and understand, savings bank accounts also enable one use a myriad of other facilities like debit cards, ATMs, and net banking.

Minimum balance requirement

  • The minimum balance limit of Yes Bank’s savings accounts varies with the kinds of account.
  • However, the bank uses a standard formula to calculate the minimum average balance that each account holder must keep.
  • The bank also refers to the limit as Average Monthly Balance (AMB).
  • The formula is Average Monthly Balance (AMB): Average of Daily Closing Balance for the Month = Summation of Daily Closing Balance/Actual Number of Calendar Days in the Month
  • Using the formula, the AMB for a savings bank account turns out to be Rs 5,000

Non-maintenance charges

  • The charges non-maintenance charges if an account-holder fails to maintain AMB. The penalty levied is as follows:
  • If balance maintained is >= 100% of the requirement, the bank charges 5% of the balance shortfall
  • If the balance maintained is >= 50% of the requirement, the bank charges 10% of the balance shortfall
  • The maximum penalty levied on non-maintenance of AMB is Rs 500

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