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SBI New guidelines for minimum balance rules

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SBI New guidelines: More than 40 crore citizens of nine to nine countries are customers of State Bank of India. As a result, any rule change by the State Bank directly affects crores of households. In 2020, SBI changed its ‘minimum balance’ policy and people were in a lot of trouble. This time, it is believed that the public will get some relief by taking new steps in terms of the monthly minimum balance by the State Bank.

SBI New guidelines for minimum balance rules

It is learned that the system of average minimum monthly balance in all savings accounts is being discontinued. In this context, it needs to be said that in the case of the ‘minimum balance’ policy which was implemented by SBI in 2020, 3000 thousand rupees for metro cities, 1500 rupees for suburban areas, and 500 rupees for rural areas should have been kept in the account. If the money is less than this, the bank would fine the big money and deduct it.

However, no more money will be deducted from this time.

Not only that, there is no minimum balance requirement. In fact, the State Bank’s earlier ‘minimum balance’ policy had led to strong customer dissatisfaction. Especially in metro cities, the minimum balance amount was very high due to which the customers were facing more problems. Many people objected to this and the new rules were implemented.

Read More: SSC Exam Calendar 2023-24 | Download PDF Upcoming Schedule

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According to the new rules,

SBI has informed us that if you want to close the savings account within 14 days of opening it, you will not have to pay any closing charges. Simply visit the branch where you have the account and ‘close’ the savings account. However, if within 1 year after 14 days, a charge of Tk. 500 will be charged. There is no charge to close the savings account if it is 1 year old.

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