SBI Minimum Balance Rules: How Much Fine You Pay And Other Details
SBI savings bank account holders in metros will have to maintain a monthly average balance of Rs. 5,000. Story Highlights SBI account holders have to pay fine for not maintaining minimum balanceSBI metro customers need to maintain monthly average balance of Rs 5,000Rs 50 plus service tax charge in case shortfall less than 50%, says SBI State Bank of India or SBI customers holding savings bank accounts with India's largest lender have to pay fine for not complying with minimum balance rules. SBI, which recently unveiled a new identity after its merger with six other banks, charges the customers on the basis of where their accounts are located. In case the minimum balance in an SBI savings bank account - in metro, urban, semi-urban or rural areas - drops below a particular threshold, a fee is levied on the account holder. Monthly average balance or MAB is the average of daily balances in the account during the month. For example, SBI customers in metros are required to main...