Do you have more than one bank account? This is the rule of the Reserve Bank!
A bank account is one of the mainstays of modern wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions. A bank account is a must to avail of government benefits, save, and transact online.
In this case, a person has more than one bank account. Especially, for those who work in private offices, no matter which company they join, many accounts such as salary bank accounts will be in our name.
How many bank accounts can one have? Have you ever wondered what the rules are for having more than one bank account? Find out the answer in this post. Most people have 3 to 4 savings accounts. Some people have more bank accounts than others. Because there is no limit for opening a bank account in India. RBI does not set any limit on the number of bank accounts. Hence, one can open any number of bank accounts.
If you continue valid transactions from your accounts there will be no harm. If you do not use your bank account for a long time, the bank may close your account. Therefore, it is recommended that you continue to use all your accounts. But there are a few things to keep in mind while opening multiple bank accounts. All banks have made it mandatory to maintain a minimum balance in savings accounts other than salary accounts. That means you should always have a minimum balance in your bank account. Failure to do so will result in a certain amount being deducted from your bank account.
If you do not maintain the minimum balance even after making the deduction, your bank account will become negative. In such a situation you should be careful about the minimum balance. Bank accounts can be properly managed in this manner. When managing more than one account, you may need to keep track of minimum balances, messaging service fees from the bank, debit card fees, etc. So, it is better to keep only necessary accounts.
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