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SBI Mulls Over Lowering Minimum Balance Amount on Savings Accounts
January 08, 2018
As the news about the profits generated through fines of non-maintenance of minimum balance made rounds across the nation recently, public sector State Bank of India (SBI) is now planning to bring the threshold down.
Currently, the minimum account balance requirement for urban areas in India is Rs. 3,000. Earlier it was Rs. 5,000 but was trimmed after the bank took flak from the public on the same.
According to sources, SBI is now planning to change the minimum requirement to Rs. 1,000.
