SBI Monthly Balance Guidelines For Savings Account Holders Explained

SBI or State Bank of India requires its customers to ensure a particular minimum balance in their savings bank accounts. The country's largest bank, SBI, has listed out guidelines on the average monthly balance rules applicable to its savings bank accounts, and the penalty charges for non-compliance, on its website - sbi.co.in. According to the SBI rules, the savings account holders are required to maintain a certain average of daily balances with the bank in order to avoid the penalty charges..Average monthly balance required in savings bank account.State-run SBI has classified its branches into four categories: rural, urban, semi-urban and metro. Its customers holding savings accounts are required to maintain an average monthly average to the tune of Rs 1,000-3,000 to avoid any penalty charges, according to the bank's website.. table.tble_irctc { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; margin-bottom:20px; } table.tble_irctc th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_irctc td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_irctc, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_irctc, thead, tbody, th, td, tr { font-size: 14px; } table.tble_irctc th { padding: 4px; } table.tble_irctc td { padding: 4px; } .itctc_main { overflow-x:scroll;overflow-y:hidden;} } /*Media Query END*/ . Category Average monthly balance requirement Metro Rs 3,000 Urban Rs 3,000 Semi Urban Rs 2,000 Rural Rs 1,000 (Source: sbi.co.in) .SBI charges the penalty amount based on factors such as branch location and the degree of shortfall, which is the difference between the average required and the average achieved by an account holder in a month..(Also read: Income tax assessees asked to link PAN with bank account for refund).For example, the bank charges a penalty amount to the tune of Rs 7.5-15 (excluding GST) for non-compliance with the guidelines in metro, urban and semi-urban branches, according to the SBI website..Penalty charges for insufficient balance in accounts located in metro/urban branches. table.tble_sbi_pen { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; margin-bottom:20px; } table.tble_sbi_pen th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_sbi_pen td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_sbi_pen, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_sbi_pen, thead, tbody, th, td, tr { font-size: 14px; } table.tble_sbi_pen th { padding: 4px; } table.tble_sbi_pen td { padding: 4px; } .itctc_main { overflow-x:scroll;overflow-y:hidden;} } /*Media Query END*/ . Shortfall Penalty for non-maintenance of AMB in urban/metro SBI branches 50%-75% Rs. 12 + GST >75% Rs. 15 + GST (Source: sbi.co.in) .(Also read: Income tax assessments to be "completely faceless" in few years).Penalty charges for insufficient balance in accounts located in semi-urban branches. table.tble_sbi-urban { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; margin-bottom:20px; } table.tble_sbi-urban th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_sbi-urban td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_sbi-urban, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_sbi-urban, thead, tbody, th, td, tr { font-size: 14px; } table.tble_sbi-urban th { padding: 4px; } table.tble_sbi-urban td { padding: 4px; } .itctc_main { overflow-x:scroll;overflow-y:hidden;} } /*Media Query END*/ . Shortfall Penalty for non-maintenance of AMB in semi-urban SBI branches 50%-75% Rs. 10.00 + GST >75% Rs. 12.00 + GST (Source: sbi.co.in) .Penalty charges for insufficient balance in accounts located in rural branches. table.tble_sbi-rural { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; margin-bottom:20px; } table.tble_sbi-rural th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_sbi-rural td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_sbi-rural, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_sbi-rural, thead, tbody, th, td, tr { font-size: 14px; } table.tble_sbi-rural th { padding: 4px; } table.tble_sbi-rural td { padding: 4px; } .itctc_main { overflow-x:scroll;overflow-y:hidden;} } /*Media Query END*/ . Shortfall Penalty for non-maintenance of AMB in rural SBI branches 50%-75% Rs. 7.50 + GST >75% Rs. 10.00 + GST (Source: sbi.co.in) .In rural branches, a penalty of Rs. 5-10 (plus GST) is levied for non-compliance with the minimum balance requirements..Meanwhile, State Bank of India offers several types of savings accounts in which the customer is not bound to comply with any such requirements. In other words, operating these bank accounts with nil balance does not attract a penalty for the customer. Some of these bank accounts are Jan Dhan accounts (bank accounts opened under the government's financial inclusion-oriented Jan Dhan scheme), basic savings account, salary package accounts and small bank accounts, according to SBI.

SBI Monthly Balance Guidelines For Savings Account Holders Explained

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