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Tuesday 13 Mar 2018 12.20 PM

SBI reduces charges on non-maintenance of minimum balance

sbi, minimum balance,

Mumbai : The State Bank of India today reduced its charges on non-maintenance of an average monthly balance (AMB) in savings account by up to 75 per cent, effective April 1. The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per month plus goods and services tax (GST), to Rs 15 per month plus GST. The above revision will benefit 25 crore bank customers.

For semi-urban and rural centres, the charges have been reduced from Rs 40 per month plus GST to Rs 12 and Rs 10 per month plus GST, respectively, the bank said in a release. "We have reduced these charges taking into account the feedback and sentiments of our customers," SBI's managing director (retail and digital banking) P K Gupta said.

"The bank has always focused on keeping the interests of its customers first and this is one of our many efforts towards fulfilling customers' expectations," he said. The SBI also offers its customers to shift from a regular savings bank account to basic savings bank deposit account (BSBD) on which no charges are levied. PTI

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Tuesday 13 Mar 2018 12.20 PM
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