Authorities of STATE BANK OF INDIA (SBI) have formulated SBI new rules from 2017 after a leap of five years. State Bank of India, has come up with new rules for its savings and salary account holders. The new rules have been implemented from 1st June 2017.The management authorities of State Bank of India will also charge a penalty on non-maintenance of minimum balance on accounts.
1. 3 times deposit free in your account. After more than 3 times deposit, you will pay 50/- per deposit.
2. The bank has increased the Monthly Average Balance (MAB) requirement for Savings Accounts to as much as Rs 5,000 for branches in metro cities. For urban, semi-urban and rural areas it has been fixed at Rs 3,000, Rs 2,000 and Rs 1,000, respectively.
3. If you do not maintain a minimum amount in your account, you will have to pay fine up to Rs.200/- + extra surcharge. (Depending upon how many days)
4. You can use SBI ATM up to 5 times for free, after 5 times you will pay 10/- per transaction.
5. For other banks ATM use is free for 3 times, after 3 times you will pay 20/- per
Transaction.
6. If you maintain 25000/- in your SBI savings account you can use SBI ATM unlimited times.
7. Unlimited SBI & OTHER BANK ATM use without any charges if you maintain 100000/- in your SBI savings account.
8. 15/- SMS charge you will pay after 3 months, (SMS charge free, If you maintain 25000/- in your SBI savings account)
9. The failure to maintain Monthly Average Balance (MAB) in accounts will call for a penalty between Rs 50 to Rs 100 plus service tax per month.
10. There will be no charge for UPI/ USD transactions of up to Rs 1,000. Beyond Rs 1,000, there is a charge.
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