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Old 7th December 2015, 11:58 AM
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Default Re: Minimum balance in State bank of India

I would like to know the minimum balance to be kept for a saving account with State bank of India as I would like to open account for my son?
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Old 7th December 2015, 11:59 AM
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Default Re: Minimum balance in State bank of India


Here below I am providing you with all the details of a basic saving account with State Bank of India:



This account can be opened by any individual above 18 years old, provided he/she has suitable KYC documents. Primarily supposed for poorer sections of society to encourage them to start saving with no burden of charges or fees.

Eligibility Criteria


As relevant to regular Savings Bank Account

KYC requirement

The account will be KYC submissive.

Mode of Operation

Singly, jointly, or with E or S, F or S, anyone or Survivor etc facility.

Available at

All branches of SBI

Minimum balance amount

ZERO

Maximum balance /amount

No higher limit

Rate of Interest

As appropriate to Savings Bank Accounts

Operations in the Account

Cheque book will be issued where Mobile No. of the account owner is recorded.
ATM-cum-debit card will be provide.

Service Charges

ATM-cum-Debit card will be provided free of cost and no yearly maintenance charge will be applied.
Receipt/ credit of currency through electronic payment channels like NEFT/RTGS will be free
Deposit/ collection of cheques drawn by Central/State Government will be free of charge
No charge on commencement of inoperative accounts

Charges for availing services other than those covered here

Regular charges will be relevant on services extended beyond those mentioned above
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