Skip to content
StudyToper
  • Home
  • Latest Update
  • latest govt jobs
  • Results
  • Admission
  • Admit Card
  • Answer key
  • Syllabus
Big updates for SBI account holders! Not keeping minimum balance will cost heavy penalty? SBI Bank Big Update 2025 – studytoper.in

Big updates for SBI account holders! Not keeping minimum balance will cost heavy penalty? SBI Bank Big Update 2025 – studytoper.in

March 28, 2025 by Rahul NK


State Bank of India (SBI) is the largest government bank in the country, which provides its services to millions of customers. Recently, an important update has come to light on SBI account holders. According to this update, if a minimum balance is not placed in your account, you may have to pay a fine.

This rule has been implemented especially to customers whose accounts are located in urban, semi-urban and rural areas. In this article, we will give complete information about this update and understand how this rule works.

Table of Contents

Toggle
  • SBI minimum balance rule observation
  • Why is the minimum balance important?
  • Need minimum balance in various accounts of SBI
    • 1. Regular savings account
    • 2. Basic savings bank deposit account
    • 3. Minor savings account
    • 4. Resident foreign exchange domestic account
  • Rule and procedure of fine
  • Benefits for SBI account holders
    • 1. Zero balance accounts
    • 2. Free debit card
    • 3. Interest rates
  • Rules determined by RBI
  • Does SBI really impose a fine on minimum balance?
  • Rejuvenation

SBI minimum balance rule observation

Type of account Minimum balance requirement
Metropolitan or urban area ₹ 3,000
Semi-urban area ₹ 2,000
countryside ₹ 1,000
Basic savings account Zero
Insta plus savings account Zero
Minor saving account Zero

Why is the minimum balance important?

The purpose of keeping minimum balance is to run banking services smoothly and provide better facilities to account holders. If customers do not have the minimum amount fixed in the account, the bank has the right to impose additional fees. This affects not only the usefulness of the account but can also obstruct the transaction.

See also  PM Kisan's biggest installment transfer from April 15 - Check your name immediately! - StudyToperC

Need minimum balance in various accounts of SBI

1. Regular savings account

  • In metros: ₹ 3,000
  • In small cities: ₹ 2,000
  • In rural areas: ₹ 1,000

2. Basic savings bank deposit account

  • There is no minimum balance in this account.
  • This account is suitable for those who come from low income group.

3. Minor savings account

  • This account created for children also requires no minimum balance.

4. Resident foreign exchange domestic account

  • In this account with foreign exchange:

Rule and procedure of fine

If customers do not keep the minimum amount prescribed in their savings account, the following fine may apply:

  • In metros: ₹ 10- ₹ 15 per month.
  • In small cities and semi-urban areas: ₹ 5- ₹ 10 per month.
  • In rural areas: ₹ 2- ₹ 5 per month.

The bank sends notice to customers and informs first. If the balance is not completed within a month, the penalty applies.

Benefits for SBI account holders

1. Zero balance accounts

SBI has provided zero balance facility on many types of accounts. These include:

  • Basic savings bank deposit account
  • Insta plus savings account

2. Free debit card

Customers can get Rupay Basic Debit Card, which does not charge any annual fee.

3. Interest rates

Interest Rates on SBI Saving Accounts:

  • At a balance less than ₹ 10 crore: 2.70% per year.
  • ₹ 10 crore or more at balance: 3% per year.
See also  From May 1, Senior Citizens will get 4 big benefits-Know which facilities will start! - StudyToperC

Rules determined by RBI

The Reserve Bank of India (RBI) has given the following instructions to banks:

  1. To inform customers about minimum balance while opening an account.
  2. If the balance is reduced then sending notices to customers.
  3. To limit the amount of fine to a certain percentage so that the account does not go into negative balance.

Does SBI really impose a fine on minimum balance?

Since March 2020, SBI has stopped imposing fine for not keeping minimum balance on most of its savings accounts. The Finance Ministry has confirmed that SBI no longer impose any penalty on regular savings accounts. However, some special types of accounts such as Resident Foreign Currency Domestic Account still requires the minimum amount to be kept.

Rejuvenation

The purpose of this article is to give information about the rules and updates issued by SBI. Recently, the Finance Ministry has clarified that SBI has abolished the provision of fine for not keeping minimum balance on its regular savings accounts. Therefore, the news that “not keeping minimum balance will cost heavy fine,” is not completely correct. Customers confirm their account status and new instructions issued by the bank themselves.

See also  Gold Price Update: Gold prices fall drastically, know how cheap gold in your city - StudyToper

Rate this post
Categories government schemes, Govt schemes, LATEST UPDATE Tags account, balance, Bank, Big, Cost, Heavy, holders, keeping, Minimum, StudyToperC, penalty, SBI, SBI Bank Big Update 2025, Update, Updates
Gate Score Card 2025 Today is being released on gate2025.iitr.ac.in, Marx and Scorecard
KVS Balvatika Lottery results for 2025-26 session for admission today, check from 4:00 pm
Rahul NK

I am passionate writer with over five years of experience covering the latest job updates, educational content, news, and insightful blogs aimed at empowering readers with valuable information.

Contact Us
Sharing Is Caring:

Latest Posts

  • Application for Madhya Pradesh Regional Science Center Recruitment, Creation and Craft: MP Regional Science Center BhartiApplication for Madhya Pradesh Regional Science Center Recruitment, Creation and Craft: MP Regional Science Center Bharti
  • Mahadiscom Aee Recruitment 2025 Notification for 180 postsMahadiscom Aee Recruitment 2025 Notification for 180 posts
  • DDA Executive Engineer Recruitment 2025 35 notification for different postsDDA Executive Engineer Recruitment 2025 35 notification for different posts
  • DFCCIL City INTIMATION Slip 2025 Out, Direct Link to Downing on DFCCIL.comDFCCIL City INTIMATION Slip 2025 Out, Direct Link to Downing on DFCCIL.com
  • MP GOST Teacher Bharti School Cheyan 2025 | The guest process of Madhya Pradesh teacher recalls reference applications.MP GOST Teacher Bharti School Cheyan 2025 | The guest process of Madhya Pradesh teacher recalls reference applications.
  • SSC GD Constable 2025 Result: SSC GD Result Points releasedSSC GD Constable 2025 Result: SSC GD Result Points released
  • MPTranSco Recruitment 2025 633 notification for ITI PostMPTranSco Recruitment 2025 633 notification for ITI Post
  • What is life after clearing SSC JE exam?What is life after clearing SSC JE exam?
  • Ordnance Factory Bhandara Recruitment 2025 notification for 143 postsOrdnance Factory Bhandara Recruitment 2025 notification for 143 posts
  • Cidco Ae Admit Card 2025, Hall Ticket PDF Steps to downloadCidco Ae Admit Card 2025, Hall Ticket PDF Steps to download
studytoper logo

This Blog is related to Sarkari Jobs Alert, Education News, Study Related Materials, Reviews, WordPress, Make Money Online, News and Technology e

Categories

  • Latest Updates
  • Educational News
  • Latest Jobs
  • Admit Card
  • Syllabus
  • Admission

Quick Links

  • MPPSC
  • UPSC
  • ESB
  • SSC
  • RAILWAY
  • Banking

Useful Links

  • About Us
  • Contact Us
  • Privacy Policy
  • Term & Conditions
  • DMCA
©2022-2024 StudyToper