For instance, a holder of a savings account at HSBC bank be required to maintain a minimum monthly average balance of Rs 75,000 from Rs 25,000 previously required, and a minimum of Rs 25,000 in a savings bank deposit . For customers of Citibank, the minimum requirement that the holder of the savings bank account is required to keep more than 2 lakh RS. These standards, however, does not apply to current accounts.

"It has nothing to do with the deregulation of interest rates on bank savings account, the motion was brought before the RBI decided to deregulate," said an official from HSBC.

The rule would apply to new and existing customers, a bank spokesman told HT.

Citibank officials did not respond to requests HT.

However, customers are dissatisfied. "When I opened my bank account, the needs were different, and suddenly can not be changed until this point," Amit Bhargava, HSBC customers told HT.

Source: HT