SBI's Current Bank Account: Mode Of Operation, Minimum Average Balance And Other Details
- Any individual who owns a valid KYC (Know Your Customer) documents can open a SBI current account, said the country's largest lender on its portal- sbi.co.in.Â
- No rate of interest is available on this account.Â
- The monthly average balance (MAB) requirement for personal banking branch is Rs. 10,000 while for non-rural it is Rs. 5,000. For rural branch, it is Rs. 2,500, said SBI.
- There is no maximum balance limit on SBI's current account. It offers free cash deposit up to Rs. 25,000 per day.Â
- SBI's current account can be opened singly, jointly, or with either or survivor, former or survivor, anyone or survivor etc. facility, said SBI.
- Unlimited number of payments and withdrawal facility options are available at 24000+ SBI branches across India.
- Nomination facilities are also available on SBI's current account.Â
- First 50 cheque leaves are free, said SBI.
- Statement of account is issued as per requirement at monthly/quarterly/half yearly/annual intervals, noted SBI.
- The personal accident insurance is optional.
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