Minimum Balance

Thursday, Apr 25, 2024 | Last Update : 03:13 PM IST

As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data.

Banks collect Rs 5,000 cr from customers for breaching minimum balance

SBI led the pack in penalising its customers for not maintaining minimum account balance.

05 Aug 2018 12:34 PM

SBI also offers its customers to shift from a regular savings bank account to basic savings bank deposit account on which no charges are levied.

SBI reduces charges on non-maintenance of minimum balance

For semi-urban and rural centres, the charges have been reduced from Rs 40 per month.

14 Mar 2018 11:19 AM

The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per month plus goods and services tax (GST), to Rs 15 per month plus GST. (Photo: PTI/File)

SBI slashes non-maintenance charges of minimum balance by 75 per cent

The above revision will benefit 25 crore bank customers.

13 Mar 2018 1:25 PM

State Bank of India is country's largest lender. (Photo: PTI)

Relief for SBI customers as bank tweaks minimum balance rules

Earlier Rs 5,000 monthly minimum balance limit has been reduced to Rs 3,000 which sounds affordable.

26 Sep 2017 3:27 PM

The bank has now decided to exempt pensioners, beneficiaries of social benefits from the government and accounts of minors from non-maintenance of MAB.

Public outcry forces SBI to cut minimum balance to Rs 3,000

The revised requirement and charges will become applicable from the month of October 2017.

26 Sep 2017 6:32 AM

Information was furnished by a Mumbai-based Deputy General Manager rank officer of the bank's operations department.

SBI collects Rs 235 crore in minimum balance fine in June qtr: RTI

The country's top bank has not revealed the categories of accounts on which the fine has been levied.

19 Aug 2017 12:35 PM

India Posts has a vast network of post offices.

Demand for post office accounts in Karnataka goes up

Post Office Savings Bank Account is much easier to open that requires a paltry amount of Rs 50.

15 May 2017 3:06 PM

State Bank of India or SBI is largest public sector bank.

Things to know about SBI's new transaction rules

Country's largest public sector lender has brought in a new minimum balance requirement rule among others.

05 Apr 2017 1:33 PM

Representational image. (Photo: Facebook)

Minimum account balance: SBI says penalty only after April 24

Revised services cgarges for transaction at bank's ATMs will also come into force after that date.

03 Apr 2017 4:00 PM

SBI says maintain Rs 5,000 balance or pay penalty

Customers of urban and semi-urban branches required to keep Rs 3,000 and Rs 2,000 balance respectively.

01 Apr 2017 1:13 PM

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