Some, but not all, banks require minimum balances for their savings accounts. You will need to check the specifics of your individual account and make sure that it works for you. This means that you must keep a minimum amount of money in the account to either avoid fees or qualify for a specific interest rate. Typically, if you drop below the minimum balance requirement, you will stop earning or drop to a lower interest rate, or have to pay a fee. However, some banks advertise no minimum balance as a selling point for their accounts, such as the Tangerine Savings Account.