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BTCC / Hashtag / minimum balance for traditional savings account
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What is a minimum account balance for a traditional savings account?

A minimum account balance for a traditional savings account is the least amount of money you must keep in your account to avoid fees. Typical minimum account balance requirements for traditional savings accounts range from $300 to $500, although amounts vary and some banks have no minimum requirements.

How much should a savings account balance be?

For accounts that do have a minimum requirement, the amount might range anywhere from $100 to $100,000 or more, depending on the account type. Here are some examples: What happens if my savings account balance drops below the minimum?

What is a minimum account balance?

A minimum account balance is the least amount of money a financial institution requires you to keep in a specific account. Many banks require a minimum deposit when opening a savings account. Banks impose a monthly service fee that can be waived if you maintain a minimum account balance.

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