State Bank of India has eliminated the hassle of minimum balance charge while giving relief to its customers. This means that now the savings account holders of SBI will not have to pay the minimum balance charge.
Now the customers of the bank will be able to keep the balance according to their account. No charge will be levied on this behalf from the bank. Apart from this, the bank has also waived the SMS charge.
Let me tell you that State Bank of India was getting criticized for the recovery of minimum balance charge. However, more than 44 crore account holders are expected to benefit from this decision of the bank.
Presently, the savings account holders of different categories of SBI have to maintain a minimum balance from Rs 1000 to Rs 3000.
SBI account holders living in metro city have to keep Rs 3000 as minimum balance, Rs 2000 for semi-urban saving account holders and Rs 1000 for rural or rural area savings account holders.
