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In India owning a savings account is free. There are no charges to open or maintain an account but you need to maintain a minimum balance as per the banks regulations & features offered.
For a basic savings account Rs. 500 would be a minimum balance. For accounts with ATM cards and cheque books it would be Rs. 1000 or even more based on the bank.
If you fail to maintain the minimum balance, the bank has the right to charge a penalty on your account.
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Is a savings account considered an asset?
Yes, a savings account is considered an asset because it represents money that you own and can access.
What is the minimum deposit to open a savings account with SunTrust?
The minimum deposit required in order to open a savings account with Sun Trust in one hundred dollars and with this you can start your own savings account with Sun Trust.
How old must you be to have your own savings account?
any age, however if you are a minor under 18 your account must be in your parent or guardians name also. once you turn 18 you can have your own account solely.
Where could one get a euro savings account?
Anyone can open a Euro savings account through the internet without actually having to fly to Europe to do it. Many international banks will let you open your own Euro savings account. Here's to mention a few: "Barclays", "ScotiaBank", NationwideInternational", and many more.
What is the minimum maintaining balance for bpi family savings account?
BPI Family has different types of Savings account (Maxi-saver, Jumpstart, Savings Account w/ life insurance & Express Teller) and each type has it's own requirements. If you are asking about Express Teller Savings, the required monthly ADB is Php1,000.00. To earn interest, the required daily balance is Php3,000.00. Hope this info helps.
