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Home >> News >> SBI can Reduce Minimum Balance Limit in Account, Know What will be New Limit

SBI can Reduce Minimum Balance Limit in Account, Know What will be New Limit

Posted on: 05 Jan, 2018 Tags   SBI Minimum Balance Fine Minimum Balance Maintenance

IndiaNewsonWeb: 05 Jan, 2018, State Bank of India started the New Year by offering a gift to customers to cut interest rates. But the end of the meeting is not over here. SBI can now give you another big gift. Thanks to this, you will not only be able to keep less money in the bank but will also be saved from charging.

According to a recent report, SBI recovered 1771 crores last year as a minimum balance charge. The amount of the charge was even higher than the bank's net profit of one quarter.

After the Minimum Balance Charge, the SBI has started criticizing again. On the other hand, pressure from the government has also started to grow. In such a situation, SBI can offer you a small percentage of the balance, but you will also give another relief.

The Times of India quoted sources that SBI is preparing to reduce the minimum balance limit from 3000 to 1000 rupees. Soon he can make a decision on this.

If this happens, you will not have to fulfill the condition of keeping minimum balance of 3000 rupees in urban areas. After this, at least 1000 rupees will be required in your account.

With this, SBI is preparing to give another relief to its customers. In this, the bank can decide the minimum balance, not at the monthly level, but at the quarterly level.

After these rules come, your account will not have to be 1000 rupees per month. Actually, the condition of quarterly or quarterly balance means that you have to keep at least a lot of money in three months, whose average can meet the minimum balance limit.

Let's say that at the moment, in the SBI branches of metro cities, you have to maintain a minimum balance of Rs. 3000. In semi-urban areas 2000 and in rural areas this limit is 1000 rupees.

The State Bank of India has the minimum balance requirement in government banks. Although there are many more banks in private banks, whose reckonements are more than that.

If SBI reduces the minimum balance in urban areas, then it can decide to reduce it even in semi-urban and rural areas. With the minimum balance being reduced, you will be able to keep less money in your account and you will not have to pay a fee for less balance.

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