GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

SBI Reduces Charges on Non-maintenance of Minimum Balance by up to 75%

The charges for non-maintenance of average monthly balance for SBI 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.

PTI

Updated:March 13, 2018, 1:09 PM IST
facebookTwittergoogleskypewhatsapp
SBI Reduces Charges on Non-maintenance of Minimum Balance by up to 75%
Image for representation. (Reuters)
Loading...
Mumbai: The State Bank of India on Tuesday reduced its charges on non-maintenance of an average monthly balance (AMB) in savings account by up to 75 percent, 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.

A customer always has the option of converting the regular savings bank account to BSBD account free of charge, in case he desires to avail basic savings bank facilities without being subject to maintenance of AMB, Gupta said.

The lender has 41 crore savings bank accounts, out of which 16 crore accounts under the Pradhan Mantri Jan Dhan Yojna/ BSBD, and of pensioners/ minors/ social security benefit holders are already exempted from charges on non- maintenance of minimum balance.
| Edited by: Puja Menon
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,101.30 -4.34
Indiabulls Hsg 653.80 -17.10
Dewan Housing 210.55 -10.75
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Company Price Change %Gain
Sudarshan Chem 385.05 2.64
Indiabulls Hsg 654.25 -17.06
Reliance 1,101.65 -4.11
Dewan Housing 211.80 -10.37
Yes Bank 217.70 -6.06
Top Gainers
Company Price Change %Gain
HPCL 215.90 4.15
Sun Pharma 609.95 2.78
Kotak Mahindra 1,198.95 1.95
Bharti Infratel 264.45 1.71
Vedanta 211.10 1.51
Company Price Change %Gain
Sun Pharma 608.40 2.52
Kotak Mahindra 1,199.55 1.83
Vedanta 211.15 1.51
HUL 1,579.20 1.16
ITC 288.45 0.73
Top Losers
Company Price Change %Gain
Indiabulls Hsg 653.80 -17.10
HCL Tech 958.50 -6.42
Yes Bank 217.90 -6.04
HDFC 1,660.25 -4.46
Reliance 1,101.30 -4.34
Company Price Change %Gain
Yes Bank 217.70 -6.06
HDFC 1,661.30 -4.32
Reliance 1,101.65 -4.11
Hero Motocorp 2,711.00 -3.70
Infosys 682.60 -3.11

Live TV

Loading...
Loading...