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News Topical, Digital Desk : DBS Bank India: Development Bank of Singapore (DBS) i.e. DBS Bank India has issued a new order for its savings account holders. According to this, if the average monthly balance (AMB) is not maintained in the savings account, the bank will charge a penalty of 6 percent on the shortfall amount.
Now it is necessary to maintain AMB
Giving this information through its website, DBS Bank India said, from August 1, 2025, a penalty of 6 percent or maximum Rs 500 will have to be paid on shortfall for not maintaining the average minimum balance in the savings account.
DBS Bank says that it is necessary to maintain an average monthly balance of Rs 10,000 in your savings account. Here shortfall means that any amount less than the average monthly balance of Rs 10,000 will be fined 6 percent. In such a situation, if you have Rs 8,500 in your account, then it is Rs 1,500 less than Rs 10,000. A penalty of 6 percent will be imposed on this Rs 1,500. This new rule will come into effect from August 1 this year.
Different AMB for each account
The average monthly balance should be Rs 1000 for DBS Bank's SB Others Account, Rs 5000 for Growth One Savings Account, Rs 10,000 for DBS Bank Savings Account, Rs 10,000 for Growth Savings Account, Rs 100 for Laxmi Savings Youth Power Account and Rs 10,000 for TASC Savings Youth Power Account. However, all account holders will have to pay a 6 percent penalty on shortfall if they do not maintain the average monthly balance.
Charges on cash withdrawal from ATM
Following the RBI guidelines, DBS Bank has decided to charge a transaction fee of Rs 23 after the free limit on cash withdrawal from ATM from any non-DBS ATM from May 1, 2025. In a notification issued on March 28, 2025, RBI increased the ATM transaction fee from Rs 21 to Rs 23. The Reserve Bank said that this charge will have to be paid after the five free limits of ATM transactions.
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