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SBI Eases Up on the Policies for Savings Accounts
October 03, 2017
In what’s a relief to the common man, Public Sector State Bank of India has lowered the minimum balance requirement for the savings accounts from Rs. 5,000 to Rs. 3,000. It has also reduced the penalties imposed on the non-maintenance of this balance.
According to a statement released by the lender, the revised policies and rates will be effective from October.
SBI has also exempted minors, pensioners, and beneficiaries of government-provided social benefits from the minimum balance requirement.
