Monthly Average Balance News

Money

SBI charges among lowest in banking sector, says MD

SBI managing director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry

1 min read25 Dec 2018
Industry

SBI reviewing minimum balance requirement, to make announcement soon

SBI says it is in the process of reviewing the requirement for minimum balance in savings account and the charges applicable for non-maintenance, and will soon make the announcement

1 min read9 Jan 2018
Industry

SBI collected Rs1,772 crore in minimum balance penalty during April-November

The SBI collected a windfall of Rs1,771.67 crore, more than its second quarter profit, from customers for non-maintenance of monthly average balance in savings accounts in eight months of 2017-18

1 min read2 Jan 2018
Industry

SBI lowers minimum balance requirement to Rs3,000, cuts penalties

SBI said pensioners and minors are exempted from the minimum balance requirement for savings accounts

1 min read25 Sep 2017
Industry

SBI reviewing minimum balance charges for savings accounts

State Bank of India is reviewing the feedback received from customers on the issue of penalty charges for certain categories of accounts for non- maintenance of monthly average balance

2 min read17 Sep 2017
Industry

SBI hikes minimum balance to ₹5,000 for savings account in metros

SBI savings bank account holders will have to maintain a monthly average balance of Rs5,000 in metros or else they will have to pay a penalty of Rs100

2 min read3 Apr 2017
Industry

SBI says minimum balance penalty needed to offset Jan Dhan account costs

SBI says it has not received any formal communication from the government for re-considering the minimum balance penalty

4 min read8 Mar 2017
Industry

SBI move to hike minimum balance for savings account to hit 31 crore people

Savings bank account holders of SBI and its five associates will have to maintain the monthly minimum balance

1 min read6 Mar 2017
Industry

After 5 years, SBI to charge for breach of minimum balance from April

SBI will permit savings bank account holders to deposit cash three times a month free of charges and levy Rs50 plus service tax on every transaction beyond that; levy could go as high as Rs20,000 for current account

1 min read5 Mar 2017

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