SBI's Savings Bank Account Vs Savings Plus Account: Interest Rates Compared

INSUBCONTINENT EXCLUSIVE:
Under savings account, SBI also offers special salary accounts.State Bank of India (SBI) offers savings bank account and savings plus
account under it's personal banking portfolio
A savings bank account is a basic account that safeguards customer's money and helps them grow
While SBI's Savings Plus Account is a savings bank account linked to Multi Option Deposit Scheme (MODS), wherein surplus fund above a
threshold limit from the savings bank account is transferred automatically to term deposits opened in multiples of Rs 1000, as mentioned on
SBI's official portal- sbi.co.in
All facilities offered to savings bank account holders such as ATM card, mobile banking, internet banking, SMS alerts are available in SBI
Savings Plus account also.State Bank Of India (SBI) Savings Bank Account1
SBI charges an interest rate of 3.5 per cent per annum on saving deposits balance up to Rs
1 crore
Saving deposits balance above Rs
corporates, schools, colleges, universities, government establishments/ organisations, railways, police establishments, defense personnel
bank branches, the monthly average balance (MAB) requirement for opening SBI's Savings Plus Account is Rs
3,000 while for semi-urban bank branches it is Rs
The MAB requirement for rural bank branches is Rs
35,000.