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NRI Minimum Account Balance and Penalty charges - ICICI vs HDFC vs SBI vs Kotak

One of the important detail many NRIs ignore while opening NRE or NRO saving account is the minimum account balance required to be maintained on the monthly or quarterly basis. Sometimes this is also known as average monthly balance. On average you need to maintain at least 10,000 Indian Rupees as minimum monthly balance but it varies hugely from bank to bank and on different account type. Banks also charges the penalty if you don't maintain the required minimum balance in your NRE account, which not only completely offset any interest gain you have made but also put a dent on your principle amount. I have friends which have lost thousands of rupees as minimum balance penalty because of ignorance and not paying enough attention.
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