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SBI reduces minimum balance charges

SBI reduces minimum balance charges to Rs 15 from up to Rs 50 earlier

‪‪State Bank of India‬, ‪Minimum daily balance‬, ‪Savings account‬‬, bank reduced charges.

‬If you have been upset about the charges imposed by public sector banks for various reasons including non-maintenance of minimum balance, there is some relief. The country’s largest lender State Bank of India has announced reduction of these charges from 1 April 2018. However, the minimum amount to be maintained in the account remains the same. With SBI taking this step, it can be expected that other banks would follow too.

The charges for non-maintenance of AMB for customers in metro and urban centers have been reduced from a maximum of Rs. 50 to Rs.15 per month, excluding Goods and Services Tax (GST). Similarly, for semi-urban and rural centers, the charges have been reduced from Rs. 40 to Rs. 12 and Rs. 10 per month respectively, excluding GST.

‪‪State Bank of India‬, ‪Minimum daily balance‬, ‪Savings account‬‬, bank reduced charges

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