How much amount will be deducted for not maintaining balance?
Table of Contents
How much amount will be deducted for not maintaining balance?
500 at the end of financial year Rs. 100 will be deducted as Account Maintenance Fee and if account balance became Nil the account shall stands automatically closed. This is as per the India Post site.
What is the minimum maintenance balance in SBI?
Savings Bank customers’ were required to maintain a monthly average balance of Rs 3000, Rs 2000 and Rs 1000 in Metro and Urban, Semi-Urban and Rural areas respectively.
What are the charges for SBI savings account?
Types of SBI Savings Account – Features & Benefits
| Particulars | Details |
|---|---|
| Minimum/Maximum Balance | No limit |
| Eligibility Criteria | All individuals having valid KYC documents |
| ATM Charges & Monthly withdrawal limit | 4 free monthly cash withdrawals (SBI & other bank’s ATMs, both) Thereafter, service charges of Rs. 15 +GST |
Which bank has lowest maintenance charges?
Charges for Non-Maintenance of Minimum Average Balance (MAB)
| Banks | Charges for Non-Maintenance of MAB |
|---|---|
| HDFC Bank | For Metro and Urban Branches (AMB Requirement is INR 10,000) INR 150 to INR 600 For Semi-urban Branches (AMB Requirement is INR 5,000) INR 150 to INR 300 |
What is the average monthly balance required by SBI for savings accounts?
For example, SBI customers holding regular savings accounts at its branches located in metros or semi-urban regions are required to maintain an average monthly balance of ₹ 3,000, according to the lender’s corporate website – sbi.co.in. Any shortfall in the required monthly average attracts a penalty charge the customer has to bear.
What is the penalty for non-maintenance of average monthly balance in SBI?
The bank used to levy a penalty of ₹ 5 to ₹ 15 plus taxes on non-maintenance of average monthly balance. SBI currently pays an interest rate of 2.7\% on savings bank account deposits.
What is the minimum balance required in SBI Metro account?
SBI minimum account balance rule: Those holding savings accounts at metro branches are required to maintain a average monthly balance of ₹ 3,000. SBI minimum balance: Customers are required to maintain an average of ₹ 3,000 a month in metro branches
When will SBI MB service charges be revised?
Sources said the service charges for non-maintenance of monthly average balance (MAB) will be revised with effect from April 1, 2017. According to information available on the SBI website, the monthly average balance that customers will have to maintain in their savings bank accounts in SBI branches in metropolitan areas is Rs 5,000.