New Delhi: State Bank of India (SBI), the country's largest state-run bank, has given very good news to its customers. SBI has started preparing to free many services while giving gifts to its customers, while also cutting the charges of many services. SBI has started preparations for changes in many of its service charges. Charges have changed from minimum balance to fund transfer.
SBI is planning to get customers out of the hassle of minimum balance. There is a readiness to give a concession in fees charged to account holders for not maintaining minimum monthly balance. It is being told that this exemption can be up to 80 percent. Let us tell you that SBI has laid down certain rules regarding minimum balance. As per the rule, people who opened bank accounts in SBI branch in metro cities, full urban areas, were required to maintain a minimum monthly average balance of at least Rs 5000 in their account. If you do not do so, you are fined.
From October 1, this balance can be reduced to Rs 3000 for metro and full urban areas. SBI is yet to pay a fee of 80 rupees for not maintaining a minimum balance. According to the report of English website Financial Express, SBI may apply the new service charge from 1 October 2019.