It is common for people to have multiple bank accounts these days, particularly for those with different jobs. However, what is the maximum number of bank accounts a person can have according to Reserve Bank of India (RBI) rules.
A bank account is essential for receiving government benefits, conducting regular transactions, online needs, and storing money. Many people have more than one bank account, and some have around three to four savings accounts or even more. There is no specific limit on the number of bank accounts a person can have, as the RBI has not imposed any restrictions.
However, it is essential to keep in mind that having too many bank accounts can result in difficulties when they become inactive due to a lack of use. RBI rules require maintaining a minimum balance in each account, and banks charge fees for their services, including minimum balance charges, ATM charges, passbook, chequebook, and SMS charges.
It is advisable to keep only necessary accounts to avoid additional fees. As long as transactions are valid and regular, there should be no issues with maintaining multiple bank accounts.
