What it is
In banking, the minimum maintaining balance is the smallest amount of money that a depositor has to keep in a bank account to avoid paying certain fees.
There is no standard amount for the minimum maintaining balance. It can vary between banks and may not be the same for different account types in the same bank.
In addition, some banks offer accounts that do not have a minimum maintaining balance.
What it means for you
The minimum maintaining balance is one of the things you need to keep in mind when you have a bank account. Keeping this amount of money or more in your account means that you won’t have to pay extra fees for maintenance.
The minimum maintaining balance may be lower than the minimum balance to earn interest. This means that, depending on how much you have in your bank account, you may not have to pay the extra fees but you might not be earning from your deposit.
