Minimum Balance
Posted in: Banking
define: Minimum Balance
The lowest amount that a depositor must maintain in a deposit account (e.g. savings account), in order to avoid fees imposed by the banking insitution. Minimum balance requirements vary widely by bank and by product.
The lowest amount that a depositor must maintain in a deposit account (e.g. savings account), in order to avoid fees imposed by the banking insitution. Minimum balance requirements vary widely by bank and by product.
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