The NRI account minimum balance is the amount that Non-Resident Indians (NRIs) have to keep in their bank accounts to continue holding it without any charges. If you don’t maintain minimum balance in an NRI account, the bank may suspend your account or impose a penalty for non-maintenance of minimum balance. NRE account minimum balance required by different banks are explained in this blog.
SBNRI is a business partner of leading Indian banks. An NRI can apply for an NRE/ NRO account with one of these Banks by clicking the button below.
NRE Account Minimum Balance 2023
The requirement for minimum monthly/ quarterly balance in an NRE account varies from bank to bank. The following table shows the minimum balance required by top NRE bank accounts.
| Bank | NRE Account Minimum Balance |
|---|---|
| Axis Bank (Average monthly balance) | Rs.10,000 |
| Bank of Baroda (AMB) | – Rural areas: Rs.500- Semi-urban areas: Rs. 1000- Urban/metro areas: Rs. 2000 |
| Canara Bank (Average Quarterly Balance) AQB | Rs. 1 lakh |
| Federal (AMB) | Rs. 5,000 |
| HDFC Bank (AMB) | – Rs.10,000 (Metro/ Urban branches) – Rs.5,000 (Semi-Urban/Rural Branches) |
| ICICI Bank (AMB) | Rs.10,000 |
| IDFC First Bank (AMB) | Rs. 25,000 |
| IndusInd Bank (AQB) | Rs. 10,000 |
| Kotak Mahindra Bank (AQB) | Rs. 25,000 |
| RBL (AMB) | Rs. 10,000 |
| SBI (AMB) | – Rs.3,000 (Metro/ Urban branches) – Rs.2,000 (Semi-Urban)Rs.1,000/- (Rural Branches) |
NRE Account Minimum Balance Guidelines by Top Indian Banks
Here are the guidelines set by top Indian banks for minimum balance in NRE accounts, including HDFC Bank, SBI, Canara Bank, ICICI Bank, Federal Bank, etc.
HDFC NRE Account Minimum Balance
The minimum balance that NRIs need to maintain in their HDFC NRE savings account depends on the locations of the bank branch.
- In metro and urban branches: Rs. 10,000
- In semi-urban and rural branches: Rs. 5,000
SBI NRE Account Minimum Balance
The minimum average balance that you need to maintain in SBI NRE savings accounts is as under:
- In metro and urban branches: Rs. 1 lakh
- In rural and semi urban branches: Rs. 50,000
ICICI Bank NRE Account
- Rs. 10,000 at account level
- Rs. 25,000 at customer ID level.
Canara Bank NRE Account Minimum Balance
NRI account holders need to maintain an average quarterly balance of Rs. 1 lakh in their NRE savings account with Canara Bank.
Minimum Balance Required in Federal Bank NRE Account
The minimum balance that NRIs need to maintain in their NRE account varies based on the type of account they open. Here is the average monthly balance (AMB) needed in Federal bank NRE savings accounts:
- Fed NRI Power: Rs. 5,000
- Fed NRI Premium: Rs. 25,000
- Fed NRI Privilege: Rs. 1,00,000
- Fed NRI Eve: Rs. 50,000
- FedFirst: Rs. 1,000
- Fed NRI Care: Rs. 1,000
- Fed NRE SB Online: Rs. 5,000
- Fed NRE Noor: Rs. 5,000
Zero Balance NRI Account
There are not many Indian banks that offer zero balance NRI account. SBM (State Bank of Mauritius) allows zero balance NRI account. However, several banks allow NRIs to maintain minimal balance as low as Rs. 5000, like Yes Bank, Federal Bank, etc.
Download the SBNRI App or click on the button below to open your NRI Bank Account in the top banks of India effortlessly at the comfort of your home.
