New penalty charges by SBI from 1st April
Posted on: 03/Apr/2017 4:36:46 PM
All existing as well as new customers of the State Bank of India should now pay more charges towards non-maintenance of minimum balance, ATM transactions made beyond free limit, and others.
This move will hit more than 31 crore savings deposit accounts holders that include pensioners and students.
After a long gap of 5 years, SBI, the top most bank of the country and one among the top 50 banks globally, will charge for non-maintenance of minimum balance in savings and current accounts.
No matter whether your account is in Bharatiya Mahila Bank or the other SBI associate banks: State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Travancore (SBT), State Bank of Mysore (SBM), and State Bank of Patiala (SBP), the new charges are applicable. To note, all these banks got merged with SBI with effect from Saturday.
What is the minimum balance to maintain? The minimum balance for metro cities is Rs 5000. In urban, semi-urban and rural areas, the minimum balance is Rs 3000, Rs 2000 and Rs 1000 respectively.
What will happen in case of non-maintenance of balance? According to the revised charges announced by the SBI, penalty of the range Rs 100 plus service tax is applicable.
