INSUBCONTINENT EXCLUSIVE:
SBI levies a fine of Rs 5-15 from savings account holders failing to maintain the required balanceSBI or State Bank of India levies certain
penalty charges from savings account holders failing to comply with its minimum balance requirements
The amount of penalty applicable varies from one customer to another, depending on factors such as branch location and the amount of
holding savings accounts are required to maintain an average monthly average to the tune of Rs 1,000-3,000 to avoid any penalty charges,
according to the bank's website.CategoryAverage monthly balance requirementMetroRs 3,000UrbanRs 3,000Semi UrbanRs 2,000RuralRs
1,000(Source: sbi.co.in)SBI penalty charges for non-compliance with savings account average monthly balance rulesSBI charges the penalty
amount based on factors such as branch location and the degree of shortfall, which is the difference between the average required and the
non-maintenance of AMB in urban/metro SBI brancheslt;=50%Rs
semi-urban SBI brancheslt;=50%Rs
12.00 + GST(Source: sbi.co.in)( Planning a holiday How you can save with SBI Holiday Savings account)ShortfallPenalty for non-maintenance of
AMB in rural SBI brancheslt;=50%Rs
10.00 + GST(Source: sbi.co.in)Meanwhile, SBI offers several types of savings accounts that which do not require any particular average
opened under the government's financial inclusion-oriented Jan Dhan scheme), basic savings account, salary package accounts and small bank
accounts, according to SBI.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on
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