After merging State Bank to SBI, the SBI has issued notice regarding minimum balance in Saving and Current account, Salary account. The SBI is now in the list of largest 50 banks in the world. You can close your account within 1 month (till 29th April 2017) to not get penalty not maintain the minimum amount in SBI Saving or Current accounts. The account holders in SBBJ, SBH, SBP, SBT, SBS, SBM has to ensure that in their bank also the minimum monthly balance must be maintained. The total assets of SBI has crosses 22 lakh crore (340 billion USD) which is among the top banks of world. The competitor of SBI are ICICI, HDFC, Bank of Baroda and Axis bank but after the merger of State Banks and its associates banks, SBI is far ahead of all other banks in India. The State Bank of India deals in Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards etc. In the current year 2017-2018, the banking sector is charging their customer for each services they are offering. From UPI/ IMPS to Printing the passbook you have to pay charges. Please check the list of services charges SBI NEW RULES on ATM Widthdwaral, Cash Deposit, NEFT/ IMPS/ RTGS etc. How to close your SBI Account and charges is also mentioned in this post.
Service Charges (from 1 April 2017)
Minimum Balance (Monthly)
Below table contains the minimum balance must be maintained in the Saving or Current bank account to avoid penalty charges. The customer must ensure minimum balance of Rs 2000/ – in their saving account per month and Rs 10000 in their current account. The LTD/ Firms not following the rules are also under the minimum balance category.
|Account Type||Minimum Balance||Penalty|
|Saving Bank Account||Rs 2000/-||Rs 100/ month|
|Current Bank account||Rs 10,000/-||Rs 575/ month|
ATM Withdrawal or Cash from SBI Branch
After 5 free transactions from SBI ATM you will be charged for ATM withdrawal. Please check the table below to avoid fine.
|MONTHLY AVERAGE BALANCE (MAB)||
FREE TRANSACTION PER MONTH
|BRANCH||INTERNET / MOBILE BANKING||
|OUR ATM||OTHER BANK ATM|
|UPTO RS 1,000/-||2||20||5||5|
|RS 1,001/- TO RS 25,000/-||2||40||5||5|
|RS 25,001/- TO RS 50,000/-||10||UNLIMITED||UNLIMITED||5|
|RS 50,001/- TO RS 1,00,000/-||15||UNLIMITED||UNLIMITED||5|
|ABOVE RS 1,00,000/-||UNLIMITED||UNLIMITED||UNLIMITED||UNLIMITED|
|CHARGES BEYOND FREE LIMIT (PER TRANSACTION)||RS 58/-||RS 6/-||RS 12/-||RS 23/-|
Cash Deposit Charges (Home Branch/ other SBI Branch)
From 1 April 2017, for Cash Deposit also the customer shall be charged fine. The other associated banks merge in SBI shall be treated under the same rule.
SAVINGS ACCOUNT– First three cash deposit is free per month. After that you shall be charged with Rs 58/- per cash deposit.
CURRENT ACCOUNT – Upto Rs 25000 per day, it is FREE. After that you shall be charged with RS 1/ per 1000/- cash deposit (minimum of Rs 58/- and Rs 23000/- maximum charges)
ATM Charge Replacement/ Renew ISSUE Charges
Is your ATM cum Debit Card stolen, damaged or not working? The Fees, amount to renew or get New ATM CARD of State Bank of INDIA (SBI) and SBBJ/ SBM/ SBT/ SBP etc. is now Rs 345/- per card. If you want to generate duplicate PIN then you have to pay Rs 58/- charge.
Passbook Printing Charges
Oh my god, the State Bank of India is also charging or printing Passbook statement at bank kiosk. For 40 transaction you will be charged Rs 115/-. (So take care, don’t just give your passbook and ask to print all your transactions.
Duplicate Passbook Issue Charges
If your bank account passbook is lost/ complete and you want to issue new duplicate passbook, then you have to pay Rs 115/- per passbook renewal/ duplicate passbook issue.
SBI ACCOUNT CLOSE Charges
Now, the State bank of India account closing is not so easy. The saving account holder has to pay SBI ACCOUNT CLOUSE charges to close their accounts. The minimum of Rs 575 (for 1 month to 6 months) and Rs 1150 for (6months to 1 year) for saving account closing charges and for the current accounts the amoun is fixed at Rs 1150/-
The SBI account holder has to pay fee/ charges if there is mistake in signature or photo. The charges is Rs 173/- for signature verification and account holder photo verification.
SBI Cheque Return Charges
If your Cheque is returned due to insufficient funds/ balance in your account, then you will be charges RS 575/. and for rht rechnical reason of cheque return you would be charges Rs 173/-
DEMAND DRAFTS/BANKERS CHEQUES
|UPTO RS 5,000/-||RS 25/-|
|ABOVE RS 5,000/- TO RS 10,000/-||RS 50/-|
|ABOVE RS 10,000/- TO RS RS 1,00,000/-||RS 5/- PER RS 1000/- (MIN RS 60/- MAX RS 500/)|
|ABOVE RS 1,00,000/-||RS 4/- PER RS 1000/- MIN RS 600/- MAX RS 2000/)|
SBI is now charging for NEFT (Online Internet Banking) fund transfer using NEFT service
|AT BRANCHES||Using Internet Banking|
|UPTO RS 10,000/-||RS 3/-||RS 2/-|
|ABOVE RS 10,000/- TO RS 1,00,000/-||RS 6/-||RS 7/-|
|ABOVE RS 1,00,000/- TO RS 2,00,000/-||RS 17/-||RS 14/-|
|ABOVE RS 2,00,000/-||RS 29/-||RS 29/-|
|At Branches||Using Internet Banking|
|RS 2,00,000/- TO RS 5,00,000/-||RS 29/-||RS 29/-|
|ABOVE RS 5,00,000/-||RS 58/-||RS 52/-|
SBI IMPS or UPI Charges
After 1st April 2017, the State Bank of India has revised the charges on IMPS or UPI online fund transfer/ booking/ recharges etc.
|ABOVE RS 1,000 TO RS 10,000/-||RS 2/-|
|ABOVE RS 10,000/- TO RS 1,00,000/-||RS 5/-|
|ABOVE RS 1,00,000/- TO RS 2,00,000/-||RS 14/-|