In a bank savings account, one needs to maintain a minimum quarterly average balance (QAB), failing which the bank imposes a penalty. The minimum QAB varies across banks and locations and therefore it is important to know it from your bank. Importantly, the banks keep changing the limits and hence keeping a track of the MQB limit is equally important. Bank of Baroda (BoB) is one such bank which will be increasing its minimum QAB that has to be maintained in its Advantage Savings Account. In a tweet dated Jan 5, 2019, it says, \u201cWith effect from 1 February, 2019 the Minimum Quarterly Average Balance in Baroda Advantage Savings Account will be updated.\u201d For metro, urban and semi-urban branches, the bank has doubled the minimum QAB. However, there is no change for accounts in its rural branches. The minimum QAB for Advantage Savings Account for urban and metro branches is being increased from Rs 1,000 to Rs 2,000 and for semi-urban branches, the minimum QAB is being increased from Rs 500 to Rs 1,000. Maintaining several bank accounts adds to the cost. Close those savings account which you would use often. For those who do not wish to maintain a QAB, banks give you the option to open a zero-balance account called the Basic Savings Bank Deposit account. These accounts come with basic features and, therefore, there\u2019s no need for maintaining a minimum balance, however, such accounts have limited transactions. In addition to penalties for not maintaining QAB, there are a number of other things for which service charges are levied by banks, which range from cash and digital transactions to withdrawal from ATMs beyond the free limit to SMS alert charges.