What is the minimum balance for SBI savings account?
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What is the minimum balance for SBI savings account?
Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.
What is the minimum balance required to be maintained for a savings account with Cheque book facility?
Minimum balance to be maintained: For cheque book operated accounts, the minimum monthly average balance shall be Rs. 1000. Savings Accounts are also opened for Pensioners and Bonafide students with lesser minimum balance.
What is minimum balance for savings account?
List of All Banks Savings Account Interest Rates and Minimum Balance 2021
| List of Savings Account Banks | Minimum Balance Required(INR) | Savings Account Interest Rates (p.a.) |
|---|---|---|
| Allahabad Bank | 1000 | 3.00\% |
| Andhra Bank | 0/5//100/1000 | 3.00\% |
| Axis Bank | 0/10000/25000/100000 | 3.50\% – 4.85\% |
| Bank of Baroda | 0/5/1000 | 2.75\% – 3.00\% |
Is SBI account zero balance?
Known as zero balance savings account of State Bank of India (SBI), the Basic Savings Bank Deposit (BSBD) account is designed as a savings account that offers certain minimum facilities, free of charge, to the account holders. For non-operation or activation of an inoperative account, the bank cannot levy charges.
What is limit of saving account?
1] Savings/Current account: For an individual, the cash deposit limit in savings account is ₹1 lakh. If a savings account holder deposits more than ₹1 lakh in one’s savings account, then the income tax department may send income tax notice.
Can we keep zero balance in SBI?
SBI zero balance savings account: Interest rate, free transactions and other details. State Bank of India (SBI) Basic Savings Bank Deposit (BSBD) account, popularly known as zero balance savings account was designed as a savings account that will offer certain minimum facilities, free of charge, to the holders.
What is small account?
In terms of Rule 2 clause (fb) of the Notification ‘small account’ means a savings account in a banking company where – (i) the aggregate of all credits in a financial year does not exceed rupees one lakh; (ii) the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand; and.