Now, if a savings account doesn’t have the minimum balance, SBI is going to charge a fine in a new rate. Bank officials said that the new rates will be applied from October 1.
The changes have been done by SBI in favour of customer interest. A minimum balance of ₹3,000 to ₹5,000 should be kept in a savings account in the Urban Area or General City. If you do not have 50% of the minimum balance, each account will be fined ₹10 with GST. And if you can’t maintain the 75% of minimum balance, you will have to pay a fine of ₹15 with GST.
Besides, SBI account holders in the semi-urban area have to keep a minimum balance of ₹2,000 and in village ₹1,000. Otherwise, they will be charged in the new rates.