diff --git a/documentation/v5/docs/numeric_format.md b/documentation/v5/docs/numeric_format.md
index abc573b9..999aa0ff 100644
--- a/documentation/v5/docs/numeric_format.md
+++ b/documentation/v5/docs/numeric_format.md
@@ -130,6 +130,31 @@ import { NumericFormat } from 'react-number-format';
    ></iframe>
 </details>
 
+### minDecimalScale `number`
+
+**default**: `undefined`
+
+If defined, it enforces a minimum number of digits after the decimal point.
+
+```js
+import { NumericFormat } from 'react-number-format';
+
+<NumericFormat value={12323.3334} minDecimalScale={3} />;
+```
+
+<details>
+  <summary>
+  Demo
+  </summary>
+
+<iframe src="https://codesandbox.io/embed/decimalscale-demo-uc92li?fontsize=14&hidenavigation=1&theme=dark&view=preview"
+     className='csb'
+     title="decimalScale-demo"
+     allow="accelerometer; ambient-light-sensor; camera; encrypted-media; geolocation; gyroscope; hid; microphone; midi; payment; usb; vr; xr-spatial-tracking"
+     sandbox="allow-forms allow-modals allow-popups allow-presentation allow-same-origin allow-scripts"
+   ></iframe>
+</details>
+
 ### decimalSeparator `string`
 
 **default**: '.'
diff --git a/src/numeric_format.tsx b/src/numeric_format.tsx
index 07c5485e..8b08c9b3 100644
--- a/src/numeric_format.tsx
+++ b/src/numeric_format.tsx
@@ -1,30 +1,30 @@
 import React from 'react';
+import NumberFormatBase from './number_format_base';
+import {
+  ChangeMeta,
+  FormatInputValueFunction,
+  InputAttributes,
+  NumberFormatBaseProps,
+  NumericFormatProps,
+  RemoveFormattingFunction,
+  SourceType,
+} from './types';
 import {
-  escapeRegExp,
-  splitDecimal,
-  limitToScale,
   applyThousandSeparator,
-  getDefaultChangeMeta,
+  charIsNumber,
+  escapeRegExp,
   fixLeadingZero,
-  noop,
-  useInternalValues,
+  getDefaultChangeMeta,
+  isNanValue,
   isNil,
+  limitToScale,
+  noop,
   roundToPrecision,
-  isNanValue,
   setCaretPosition,
+  splitDecimal,
   toNumericString,
-  charIsNumber,
+  useInternalValues,
 } from './utils';
-import {
-  NumericFormatProps,
-  ChangeMeta,
-  SourceType,
-  InputAttributes,
-  FormatInputValueFunction,
-  RemoveFormattingFunction,
-  NumberFormatBaseProps,
-} from './types';
-import NumberFormatBase from './number_format_base';
 
 export function format<BaseType = InputAttributes>(
   numStr: string,
@@ -32,6 +32,7 @@ export function format<BaseType = InputAttributes>(
 ) {
   const {
     decimalScale,
+    minDecimalScale,
     fixedDecimalScale,
     prefix = '',
     suffix = '',
@@ -52,13 +53,15 @@ export function format<BaseType = InputAttributes>(
    * Or if decimalScale is > 0 and fixeDecimalScale is true (even if numStr has no decimal)
    */
   const hasDecimalSeparator =
-    (decimalScale !== 0 && numStr.indexOf('.') !== -1) || (decimalScale && fixedDecimalScale);
+    (decimalScale !== 0 && numStr.indexOf('.') !== -1) ||
+    (decimalScale && fixedDecimalScale) ||
+    (minDecimalScale && minDecimalScale !== 0);
 
   let { beforeDecimal, afterDecimal, addNegation } = splitDecimal(numStr, allowNegative); // eslint-disable-line prefer-const
 
   //apply decimal precision if its defined
-  if (decimalScale !== undefined) {
-    afterDecimal = limitToScale(afterDecimal, decimalScale, !!fixedDecimalScale);
+  if (decimalScale !== undefined || minDecimalScale !== undefined) {
+    afterDecimal = limitToScale(afterDecimal, decimalScale, minDecimalScale, !!fixedDecimalScale);
   }
 
   if (thousandSeparator) {
@@ -333,6 +336,7 @@ export function useNumericFormat<BaseType = InputAttributes>(
     onBlur = noop,
     thousandSeparator,
     decimalScale,
+    minDecimalScale,
     fixedDecimalScale,
     prefix = '',
     defaultValue,
@@ -367,7 +371,7 @@ export function useNumericFormat<BaseType = InputAttributes>(
      * we don't need to do it for onChange events, as we want to prevent typing there
      */
     if (_valueIsNumericString && typeof decimalScale === 'number') {
-      return roundToPrecision(value, decimalScale, Boolean(fixedDecimalScale));
+      return roundToPrecision(value, decimalScale, minDecimalScale, Boolean(fixedDecimalScale));
     }
 
     return value;
@@ -449,8 +453,8 @@ export function useNumericFormat<BaseType = InputAttributes>(
     }
 
     // apply fixedDecimalScale on blur event
-    if (fixedDecimalScale && decimalScale) {
-      _value = roundToPrecision(_value, decimalScale, fixedDecimalScale);
+    if ((fixedDecimalScale && decimalScale) || minDecimalScale) {
+      _value = roundToPrecision(_value, decimalScale, minDecimalScale, fixedDecimalScale);
     }
 
     if (_value !== numAsString) {
diff --git a/src/types.ts b/src/types.ts
index 8abef042..4d8aee7f 100644
--- a/src/types.ts
+++ b/src/types.ts
@@ -96,6 +96,7 @@ export type NumericFormatProps<BaseType = InputAttributes> = NumberFormatProps<
     allowedDecimalSeparators?: Array<string>;
     thousandsGroupStyle?: 'thousand' | 'lakh' | 'wan' | 'none';
     decimalScale?: number;
+    minDecimalScale?: number;
     fixedDecimalScale?: boolean;
     allowNegative?: boolean;
     allowLeadingZeros?: boolean;
diff --git a/src/utils.tsx b/src/utils.tsx
index e826a019..b01b18d8 100644
--- a/src/utils.tsx
+++ b/src/utils.tsx
@@ -1,5 +1,5 @@
 import { useMemo, useRef, useState } from 'react';
-import { NumberFormatBaseProps, FormatInputValueFunction, OnValueChange } from './types';
+import { FormatInputValueFunction, NumberFormatBaseProps, OnValueChange } from './types';
 
 // basic noop function
 export function noop() {}
@@ -98,11 +98,20 @@ export function fixLeadingZero(numStr?: string) {
  * limit decimal numbers to given scale
  * Not used .fixedTo because that will break with big numbers
  */
-export function limitToScale(numStr: string, scale: number, fixedDecimalScale: boolean) {
+export function limitToScale(
+  numStr: string,
+  scale: number,
+  minDecimalScale: number,
+  fixedDecimalScale: boolean,
+) {
   let str = '';
   const filler = fixedDecimalScale ? '0' : '';
   for (let i = 0; i <= scale - 1; i++) {
-    str += numStr[i] || filler;
+    if (i < minDecimalScale) {
+      str += numStr[i] || '0';
+    } else {
+      str += numStr[i] || filler;
+    }
   }
   return str;
 }
@@ -157,11 +166,17 @@ export function toNumericString(num: string | number) {
  * This method is required to round prop value to given scale.
  * Not used .round or .fixedTo because that will break with big numbers
  */
-export function roundToPrecision(numStr: string, scale: number, fixedDecimalScale: boolean) {
+export function roundToPrecision(
+  numStr: string,
+  scale: number,
+  minDecimalScale: number,
+  fixedDecimalScale: boolean,
+) {
   //if number is empty don't do anything return empty string
   if (['', '-'].indexOf(numStr) !== -1) return numStr;
 
-  const shouldHaveDecimalSeparator = (numStr.indexOf('.') !== -1 || fixedDecimalScale) && scale;
+  const shouldHaveDecimalSeparator =
+    (numStr.indexOf('.') !== -1 || fixedDecimalScale || minDecimalScale) && scale;
   const { beforeDecimal, afterDecimal, hasNegation } = splitDecimal(numStr);
   const floatValue = parseFloat(`0.${afterDecimal || '0'}`);
   const floatValueStr =
@@ -180,7 +195,12 @@ export function roundToPrecision(numStr: string, scale: number, fixedDecimalScal
       return current + roundedStr;
     }, roundedDecimalParts[0]);
 
-  const decimalPart = limitToScale(roundedDecimalParts[1] || '', scale, fixedDecimalScale);
+  const decimalPart = limitToScale(
+    roundedDecimalParts[1] || '',
+    scale,
+    minDecimalScale,
+    fixedDecimalScale,
+  );
   const negation = hasNegation ? '-' : '';
   const decimalSeparator = shouldHaveDecimalSeparator ? '.' : '';
   return `${negation}${intPart}${decimalSeparator}${decimalPart}`;
diff --git a/test/library/input_numeric_format.spec.js b/test/library/input_numeric_format.spec.js
index 7d565178..985755e1 100644
--- a/test/library/input_numeric_format.spec.js
+++ b/test/library/input_numeric_format.spec.js
@@ -215,6 +215,22 @@ describe('Test NumberFormat as input with numeric format options', () => {
     expect(getInputValue(wrapper)).toEqual('4111.11');
   });
 
+  it('should enforce a minimum decimal scale if specified', () => {
+    const wrapper = mount(<NumericFormat decimalScale={8} minDecimalScale={2} value={24} />);
+    expect(getInputValue(wrapper)).toEqual('24.00');
+
+    const input = wrapper.find('input');
+    input.simulate('change', getCustomEvent('24.1234'));
+    expect(getInputValue(wrapper)).toEqual('24.1234');
+
+    input.simulate('change', getCustomEvent('24.1234567890'));
+    expect(getInputValue(wrapper)).toEqual('24.12345678');
+
+    // Rounding logic
+    wrapper.setProps({ value: 24.123456789 });
+    expect(getInputValue(wrapper)).toEqual('24.12345679');
+  });
+
   it('should not add zeros to fixedDecimalScale is not set', () => {
     const wrapper = mount(<NumericFormat decimalScale={4} value={24.45} />);
     expect(getInputValue(wrapper)).toEqual('24.45');