Minimum Balance For SBI Account, Minimum Balance For State Bank Of India Account
State Bank of India-SBI decision on increasing the minimum balance amount on a savings account is going to impact on 31 crore people who are holding sbi accounts including pensioners and students.
State Bank of India has made an announcement on maintaining of minimum balance in SBI account will effect from April 1st 2017, if any one fails to maintain minimum balance in State Bank of India account will be charged-fined with penalty ranging from Rs 20 to Rs 100 based on the area.
Minimum Balance Amount To Maintain in SBI account are:
- People Having SBI Account in Metropolitan Areas should maintain minimum balance of Rs 5,000 in their account.
- Account holders holding SBI Account in Urban Areas should maintain minimum balance of Rs 3,000.
- People Having State Bank of India Account in Semi-Urban Areas should maintain Rs 2,000 as minimum account balance.
- People Having State Bank Account in Rural Areas should maintain minimum balance of Rs 1,000 in their account.
Buzz is that this will be applicable to banks like State Bank of Bikaner and Jaipur-SBBJ, State Bank of Mysore-SBM, State Bank of Travancore-SBT, State Bank of Patiala-SBP and State Bank of Hyderabad-SBH which are going to merge with State Bank of India-SBI
As of now State Bank of India-SBI monthly average balance for a savings bank account is Rs 500 without cheque book and Rs 1,000 with cheque book across the country.