(SBI) State Bank of India’s limit of minimum average monthly balances (MAB) of savings account holders is Rs. Rs 5000 less than Rs. 3000
Since the beginning of 5000 amounts, people started to close the account, the general class or the student class was in trouble.
But for the pensioners and non-observers, this amount will be five thousand. The bank has reduced the service charge by 20-50% to avoid having monthly average balance.
According to SBI, he has decided to keep Metro and Urban Centers in one category and due to this, the need for minimum balance in metro centers is about Rs. Rs 5000 less than Rs. 3000
Apart from this, pensioners, beneficiaries of government schemes and people of adolescent age have been given relief from them. At present, the customers of Metro and Urban Centers do not have the average balance in the account. 40 to Rs. Charges of up to 100 are to be given. It has been reduced to 30-50 rupees. The charge for semi-urban and rural centers has been reduced by 25-75% to 20-40 rupees.
This amendment from the bank will be implemented from October, 2017.