SBI Savings Bank Account: Minimum Balance Rules, Penalty And How To Avoid It
Do you have an SBI account? SBI or State Bank of India savings bank account customers are required to maintain a monthly average balance. Failure to maintain an average balance as prescribed by India's largest bank SBI will attract a penalty, which varies depending upon where the customer holds the account. State Bank of India (SBI) has divided the penalty applicable in case of non-compliance with its minimum balance or "monthly average balance (MAB)" requirements into four categories of savings bank accounts - rural, semi-urban, urban and metro.
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A regular review of your account will help you to ensure the average monthly balance is maintained and avoid the minimal charges. pic.twitter.com/bZSwWRW134
April 22, 2017
Here are some other details about SBI's minimum balance rules for its savings bank accounts:
What is monthly average balance or minimum balance?
Monthly average balance or MAB of a SBI savings bank account is the average of daily balances in the account in a month.
What is the minimum balance required in my SBI savings account?
What kind of charges apply?link
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