MoneyWorks4Me

SBI cuts charges on non-maintenance of average balance in savings account

26 Sep 2017 Evaluate

State Bank of India (SBI) has slashed charges on non-maintenance of Monthly Average Balance (MAB) in savings bank account by 20-50% across customer categories. The bank has also reduced minimum amount to be maintained in SB account to Rs 3,000 from previous requirement of Rs 5,000. The revised MAB requirement and charges will become applicable from October 2017.

SBI offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.


Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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