Standard Chartered India Minimum Average Quarterly Balance
ICICI Bank seems to have started a chain reaction. Now Standard Chartered has increased the minimum Average Quarterly Balance requirement from Rs. 15000 to Rs. 25000.
This is pretty painful. Quarter of a lakh rupees blocked just because… I cannot think of a good reason.
I have no idea which other bank has also done the same in the recent times. Should I change my bank again? I am not sure. As of now Rs. 35000 is stuck in my two accounts (ICICI Bank and Standard Chartered) just to meet their minimum requirements.
I need to mention here that Standard Chartered charges me Rs 800 (plus 12.x% taxes as service tax) for the gold debit card they have given me!