Most important things to know about SBI minimum balance rules, Zero Balance accounts

Major commercial banks such as the State Bank of India (SBI) have set different rules to ensure that there is sufficient balance in the normal bank accounts of customers. The bank will charge a fine in the event that there is no monthly average maintenance (MAB). MAB is the average of the normal day-end closing (EoD) in one month. On the other hand, SBI also offers some accounts that MAB rules cannot be used. In other words, these bank accounts can be operated without a zero balance and called a zero balance account.

SBI has divided into four categories depending on location: large cities, semi-urban and rural areas

Customers with regular savings accounts in SBI branches located in major cities and urban areas must maintain a monthly average of Rs 3,000 according to the bank's website

Customers with a SBI savings account in a semi-urban and rural branch must maintain a minimum average balance of Rs 2,000 and Rs 1,000 respectively.

Fines for not passing the minimum threshold

Customers who do not comply with the MAB requirements must bear the amount of the fine, depending on factors such as the branch location, the level of shortage, which is the difference between the average balance maintained in one month and the minimum balance. Preferred is Taken into consideration while charging fees

Customers who do not comply with the MAB requirements must pay the following fees.

SBI's balance-saving account is intended to weaken the various parts of society to encourage them to start saving without any fees or fees.

The SBI Center Balance account provides all the usual facilities that come with regular savings accounts.

SBI savings account interest rate
The interest rate proposed by SBI in a zero savings account is the same as in a normal savings bank account. Customers with 1 hundred thousand Rs in their accounts receive 3.25 percent interest while less than R. S 1 hundred thousand in their savings accounts receive interest at the rate of 3.50 percent according to SBI.

SBI Balance Account Center
Basic savings bank accounts (BSBD), accounts opened under the PMJDY financial consolidation scheme (Pradhan Mantri Jan-Dhan Yojana), special payroll packages, and Pehla Kadam and Pehli Udaan accounts (for minors) are proposed accounts. By SBI that allows use with zero or no balance