State Bank of India (SBI) has changed the 4 rules since 1st October 2017, Minimum Account Balance Charges, Account Closure Charges, SBI’s Loan is cheap, SBI will not take check of merged banks
Minimum Account Balance Charges
A) The minimum account balance limit in metro centers will be reduced from Rs 5,000 to 3000.
B) Now Metro and Urban Center will be considered in the same category. Minimum balance charge has also been reduced from 20% to 50%
C) At the same time, the bank will not charge the balance of Minimum Balance on the accounts opened for minors, pensioners, and subsidies.
Charges for closing of account in SBI will not be charged
Since October 1, SBI will not charge any charges for closure of one year after opening the account with its customers.
After the account holder’s death, settlement of his account and closure of the account will not take any charge.
So far, SBI had to give 500 rupees and GST on closing all types of accounts or settlement.
SBI will not take check of merged banks
(SBBJ), स्टेट बैंक ऑफ हैदराबाद (SBH), स्टेट बैंक ऑफ मैसूर (SBM), स्टेट बैंक ऑफ पटियाला (SBP), स्टेट बैंक ऑफ त्रावणकोर (SBT)
SBI’s Loan is cheap
SBI has reduced the base rate by 5 basis points i.e. 0.05 percent. The base rate of SBI is reduced from 9 percent to 8.95 percent.