HDFC Bank Changed Minimum Balance (AQB SER CHGS INC ST & CESS)

HDFC Bank Changed Minimum Balance (AQB SER CHGS INC ST & CESS) in India. There are many complaints that HDFC Bank deducted balance from the savings account.

Many people will see a deduction of around Rs.820/- from their HDFC Bank account and the transaction name will be AQB SER CHGS INC ST & CESS. This means they have not maintained minimum balance in their account. AQB is Average Quarterly Balance and is different from minimum balance. AQB is calculated total amount in 4 months divided by 4 which must be more that the specified figure by HDFC Bank, if not they will deduct amount.

Minimum Average Quarterly Balance from April 1, 2010:

Rs. 10,000 for Metro/Urban
Rs. 5,000 for Semi-urban/Rural branches