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last updated on: 23/10/18 07:16AM
   SBI Savings Account Minimum Balance: How Much To Maintain, Charges And Other Details [03/01/18 11:17AM]   
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Those holding savings bank accounts with State Bank of India (SBI) are required to maintain a minimum average balance each month. Failing to maintain the required monthly average balance or minimum balance attracts a penalty. The sum to be maintained as average in an SBI savings bank account depends upon the type of branch in which the account holder has the account. SBI classifies its bank branches into four categories for this purpose, according to its website - These are rural, urban, semi-urban and metro. Under its MAB or Monthly Average Balance rules, India's largest bank SBI has specified different monthly averages required for savings accounts held in different types of branches. The amount of penalty depends upon the degree of shortfall. In other words, the farther you are from the required minimum balance, the bigger amount you have to pay as penalty being an SBI customer. (Also read: SBI extends zero processing fee offer on home loans)...





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