SBI: No need for minimum balance in specific savings account
Posted on: 19/Apr/2017 11:12:41 AM
The State Bank Of India has announced that there is no need for some specific types of accounts for keeping a minimum balance.
On 1st April, SBI issued a statement that there should be a minimum balance of Rs. 1000 to Rs. 5000 in the accounts.
However, now SBI has come out with some changes by withdrawing this for some specific types of accounts.
Small savings account
There is no need for any minimum balance. A maximum of Rs. 50000 can be kept in this account. ATM cards would be given free to the customer.
Basic Savings Account
The account holders for this account cannot open any other types of accounts in SBI. No minimum balance is required for this account.
Salary account
There are salary accounts in SBI. For the employees who get their salaries through this account, SBI provides free internet banking account, mobile banking account, cheque books, and other facilities will be given. There is no need for minimum balance in this account.
Jan Dhan Yojana
This scheme is from the Prime Minister’s proposal - Pradhan Mantri Jan Dhan Yojana. There is no need for minimum balance for this account.
