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Is there an annual fee for a savings account?
Annual and minimum balance fees Some banks charge simply for the privilege of opening a savings account. For savers with low balances, a $25 annual fee and a monthly minimum-balance charge ranging from $4 to $10 can suck up your savings at an alarming rate.
How much does a bank charge for a savings account?
Monthly Maintenance Fees for Savings Accounts at Top U.S. Banks
| Bank | Monthly Maintenance Fee |
|---|---|
| Chase Regular Savings Account | $5 |
| Santander Bank Regular Savings Account | $1 |
| U.S. Bank Standard Savings Account | $4 |
| PNC Bank Standard Savings Account | $5 |
Do all bank accounts have fees?
We looked at the fees charged by 10 banks across 16 no interest checking accounts and 15 high yield checking accounts. Almost all of these banks charge monthly maintenance fees for checking accounts, but in most cases, these fees can be waived if certain conditions are met.
What is minimum balance in savings account?
The minimum average monthly balance requirement is Rs. 10,000 for metro cities, Rs. 5,000 for semi-urban cities and Rs. 2,500 for rural cities.
How do I avoid maintenance fees?
Banks may offer to waive your account’s monthly maintenance fee if you … Keep enough money in the account. Some banks will waive a monthly fee as long as you keep a certain balance in your account, either a minimum daily balance or an average daily balance requirement over the course of the month.
What bank doesn’t charge for a savings account?
Compare the Best Free Savings Accounts
| Company | Minimum Deposit | Fees |
|---|---|---|
| Ally Bank Best Overall | $0 | None |
| Axos Bank Best for High Yield | $250 | None |
| Synchrony Bank Best for ATM Access | $0 | None |
| Betterment Best for Long-Term Savings | $10 | None |
Is a savings account free?
Free Savings Accounts vs. Traditional savings accounts are offered by big, national banks and typically charge a monthly maintenance fee to keep the account open. You can often get the fee waived by maintaining a minimum balance, but if your balance dips below that requirement even for a month, you’ll be charged a fee.
Which bank saving account is best?
Top Banks that have the Best Savings Account for Individuals
- State Bank of India (SBI) Savings Account.
- HDFC Bank Savings Account.
- Kotak Mahindra Bank Savings Account.
- DBS Bank Savings Account.
- RBL Bank Savings Account.
- IndusInd Bank Savings Account.