SBI Minimum Balance Charges
Nowadays, State Bank of India is behaving like a juice mixer to their customers. We all know that State Bank of India declared an information about minimum balance charges a few months ago.
But, the maximum percentage of the customers are unhappy with the transaction charges.
The SBI received maximum complaints from the customers about the minimum balance charge.
After the complaints, SBI took a step behind and declined the charges for not maintaining the minimum balance (AMB). Even though the decision is not changed, it is quite happy that they reduced the minimum balance threshold.
And this is also not a complete satisfaction to all the customers of State Bank of India. After several meetings and complaints, now SBI took another step regarding the minimum balance charges.
So, What will be the Good News for SBI customers over SBI Minimum Balance Charges?
State Bank of India decided to reduce the minimum balance charges in all areas. These charges will be effective from April 1st, 2018 and it will be the good news for 25 crore customers.
The charges for non-maintenance of minimum balance for customers in Metro and urban centers have been reduced from “50/Month to 15/Month” excluding GST.
This is the huge decision taken by the SBI to satisfy all their customers. Similarly, for semi-urban and rural centers, the charges have been reduced from Rs.40/Month to Rs.12/Month and Rs.10/Month respectively excluding GST.
The GST will be applicable for every charge. These are the highest charges for every area on non-maintenance of an average monthly balance in the savings account.
You can see the huge 75% difference in charges. The lowest charges are reduced from Rs.30/Month to Rs.10/Month excluding GST in Metro and urban areas. For the semi-urban areas, the price is reduced from Rs.20/Month to RS.7.5/Month.
So, this is the recent information from the State Bank of India. From so many days people are struggling with these minimum balance charges.
To avoid the difficulties and to satisfy the customers SBI took this decision so far. The minimum balance threshold is 3,000/- for the Metro and Urban area customers, 2,000/- for the semi-urban area customers and 1,000/- for the Rural area customers.
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