SBI to charge for breaching monthly average balance in saving accounts


State Bank of India (SBI), India’s largest public lender, will resume charging customers who don’t maintain Monthly Account Average Balance (MAB) in their savings bank accounts from April 1, 2017.

These charges will be based on the difference between the minimum balance required and the shortfall. The minimum monthly balance for savings bank account holders in metropolitan areas is Rs 5,000. 
Similarly, in urban areas, SBI customers will need to maintain a monthly average balance of Rs 3000. In semi-urban areas, the amount is Rs 2,000, while for rural areas, the monthly average is Rs 1,000.
Source- The Economic Times

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