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Holdings
a) Current/Saving Account
25000
b) Fixed Deposit
25000
c) Mutual Funds
d) Loans against securities
e) Demat average balance
40000
25000
100000
f ) Insurance Premium
10000
500000
g) Mortage/Home Loan
Average Monthly Relationship Value
650000
Are there any charges currently levied on my account in case the NRV falls below this threshold?
Yes, currently non-maintenance charge of Rs. 500 (domestic) and Rs. 400 (non-resident) is levied, where NRV falls
below the threshold limit.
What is the change in the non-maintenance charge applied in case my accounts NRV falls below the threshold?
W.e.f. 1st April 2015, we have revised the NRV non-maintenance charges to only 1% of the NRV shortfall or Rs. 600
(domestic) and Rs. 400 (non-resident), whichever is lower, applicable only if you are not able to maintain the NRV
by the end of the next month. The shortfall will be calculated on the higher NRV maintained across the two
consecutive months.
Below is a table showing different scenarios on charge calculation:
Example: Account type = Domestic; Min. NRV requirement = Rs. 1 lac
Month 1
Month 2
Month 3
Month 4
Month 5
80,000
70,000
110,000
30,000
20,000
80,000
70,000
110,000
30,000
20,000
500
500
NA
500
500
..
80,000
110,000
110,000
30,000
..
200
Nil
Nil
600
NRV maintained
Current Process
NRV used for charge calculation
(same as the current month NRV)
Charges (Flat-fee)
Revised Process (w.e.f. 1st April, 2015)
Please note that the above examples are for explanation purposes only.
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How will I get to know in case my accounts NRV has fallen short of threshold?
You will receive intimation via SMS and Email when your accounts NRV falls below the threshold and when the
charge is levied on your account.
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