Yes, as per the plans offered by our partner bank, ICICI Bank, unless your business falls under Private limited, Public Limited, OPC, LLP, Partnership firms you will have to maintain a minimum balance in your account. 

There will be no minimum account balance charges in the first 2 months of opening the account for the business types listed above. If the business makes a minimum of 3 transactions through the Open account every month for the first 2 months (each of value greater than or equal to Rs. 1000/-) then the period of NMAB charges will be extended to another 4 months.

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