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SBI removes minimum balance charges from all savings bank accounts

SBI removes minimum balance charges from all savings bank accounts_50.1

The State Bank of India has waived off the minimum balance charges on all savings bank accounts. SBI has waive charges for non-maintenance of Average Monthly Balance (AMB) for all 44.51 crore savings bank accounts. Earlier, SBI was levying a penalty of Rs 5 to Rs 15 along with taxes on non-maintenance of average monthly balance of Rs 3000, Rs 2000 and Rs 1000 in metro, semi urban and rural areas respectively. Along with the charges for non-maintenance of Average Monthly Balance, the public sector bank has also waived of SMS charges.

Important takeaways for all competitive exams:

  • Chairperson of SBI: Rajnish Kumar; Headquarters: Mumbai; Founded : 1 July 1955.

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SBI removes minimum balance charges from all savings bank accounts_60.1

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