How can I avoid minimum balance penalties?

Answers from the sources

  1. NYVO

    “Keep the required monthly average balance, or switch to a lower-requirement account. A basic savings (BSBD) account has no minimum-balance rule at all. Setting a calendar alert before month-end helps, so a temporary dip does not trigger a slab-based penalty with GST added on top.”

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Published
2026-10-23
Modified
2026-10-23
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revision Q140321952:content:d06a1a2dc27ece69

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