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Mon, Jan 22, 2018 | Last Updated 7:36 am IST

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What is the Minimum balance, ATM withdrawal rules in SBI Savings Account???

What is the Minimum balance, ATM withdrawal rules in SBI Savings Account???
What is the Minimum balance, ATM withdrawal rules in SBI Savings Account???
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Sources have stated that State Bank of India charges a penalty up to Rs 100 (excluding GST of 18%) per month for not maintaining the prescribed monthly average balance in savings bank accounts. Banks can levy charges for non-maintenance of minimum balance in normal savings accounts, as per Reserve Bank of India rules.



Meanwhile customers holding savings bank accounts in SBI's metro, urban, semi-urban and rural branches need to pay different penalty amounts for failing to comply with MAB or monthly average balance rules. However, for account holders in urban areas other than metros, semi-urban and rural areas, the MAB requirements are Rs. 3,000, Rs. 2,000 and Rs. 1,000 respectively. 

What is the Minimum balance, ATM withdrawal rules in SBI Savings Account???

Moreover in metros, State Bank of India allows eight free ATM transactions (5 at SBI ATMs and 3 at ATMs of other banks), and 10 in non-metros (5 at SBI ATMs and 5 at ATMs of other banks). If you exceed the permissible limit on ATM withdrawal, a charge of Rs 20 plus taxes will be levied for each additional withdrawal.


What is the Minimum balance, ATM withdrawal rules in SBI Savings Account???
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