INSUBCONTINENT EXCLUSIVE:
SBI's Zero Balance account: SBI offers a range of salary accounts, crafted to suit customer's needs.State Bank of India (SBI), the
largest country's lender offers certain accounts where average monthly balance (AMB) rule is not applicable
These accounts are known as zero balance savings accounts and does not require customers to maintain any particular minimum average balance,
However, in other accounts, SBI may requires its savings bank account customers to maintain an average monthly balance in their accounts
Average Monthly Balance (AMB) is the minimum average of deposits required by the bank customers in their savings bank accounts
applicable to following categories:1.Financial inclusion accounts including PMJDY accounts: PMJDY (Pradhan Mantri Jan-Dhan Yojana) is a
national mission for financial inclusion to ensure access to financial services, namely, banking/ savings and deposit accounts, remittance,
credit, insurance, pension in an affordable manner, said SBI
position to submit the documents mentioned by the bank and they intend to maintain balances not exceeding rupees fifty thousand in all their
accounts taken together and the total credit summation in all the accounts taken together is not expected to exceed rupees one lakh in a
year, subject to: a) introduction from another account holder who has been subjected to full KYC procedure
The introducers account with the bank should be at least six months old and should show satisfactory transactions
a range of salary accounts, crafted to suit customer's needs
SBI's special salary account packages are available for varied sectors, such as central government, state government, defence forces,
paramilitary forces, police forces, corporates/ institutions etc
These comprehensive packages can be opened with zero balance.4
Basic Savings Bank Deposit (BSBD) accounts: This account can be opened by any individual provided he/she has valid KYC (Know Your Customer)
It is primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees, said
help minor learn the importance of saving money but also allow them to experiment with the 'buying power' of money
