After slashing monthly average balance requirement and charges for its savings bank account holders, SBI has revised the account closure charges. In a Twitter post, SBI said that closure of regular savings account on conversion to basic savings bank account, which earlier used to attract a charge of Rs 500 plus GST of 18 per cent, will be nil from October 1, 2017. Similarly, savings accounts closed on settlement of deceased depositors, will also be exempt from charges with effect from October 1. Currently a charge of Rs 500 plus GST is levied on them.
IMPORTANT ANNOUNCEMENT: Savings Bank Account Closure Charges Revised with effect from 1st October 2017. pic.twitter.com/Y9bbBTZcoD— State Bank of India (@TheOfficialSBI) September 26, 2017
SBI Minimum Account Balance Rules
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