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Question
The minimum amount required to open a savings bank account is ____
The minimum amount required to open a savings bank account is ____
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Solution
The correct option is B Rs. 500
In India, where most people are able to save lesser amount of money every month, none of them wants to get penalised for not maintaining a defined amount of minimum balance in his/her account by their respective banks. People prefer to have low or no restrictions on them, be it financial or any other. Most banks ask account holders to retain a certain amount of money in their account. If people fail to maintain this minimum balance, some fine is imposed on them and the bank deducts that amount from their account.The minimum amount required to open a savings bank account is Rs. 500
In India, where most people are able to save lesser amount of money every month, none of them wants to get penalised for not maintaining a defined amount of minimum balance in his/her account by their respective banks.
People prefer to have low or no restrictions on them, be it financial or any other.
Most banks ask account holders to retain a certain amount of money in their account.
If people fail to maintain this minimum balance, some fine is imposed on them and the bank deducts that amount from their account.
The minimum amount required to open a savings bank account is Rs. 500
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