This SBI Account Has No Minimum Balance Charges But Offers Same Interest Rate

This SBI Account Has No Minimum Balance Charges But Offers Same Interest Rate
SBI currently charges a penalty of up to Rs. 100 per month for not maintaining monthly average balance.

SBI in a Twitter post said that its Basic Savings Bank Deposit accounts offer same interest rates as its other savings bank accounts but do not charge any penalty for not maintaining monthly average balance. The Basic Savings Bank Deposit account of SBI has no monthly average balance requirement, SBI said. The state-owned lender also said that those who want to avoid paying monthly average balance non-maintenance charges, can convert their regular savings account to basic savings bank deposit account without any cost.

Unlock this article for free
Sign up to access exclusive stories, fewer ads, and a personalised experience.
Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source