If your account is also in the State Bank of India (SBI), the country's largest government bank, this news is a must for you. SBI has been changing some service charges from October 1. The SBI's impact on these shifts. There will be 32 million account holders across the country.
Under this change, penalties will be reduced by up to 80% on non-maintenance of monthly average balance (MAB) from the bank. In addition, some other changes have been made by the bank. Which will be effective from 1 October. NEFT and RTGS traction will also be cheaper for people who are online traded.
Now if your account is in Metro City and Urban area branch, then you have to keep the average Monthly Balance (AMB) in the account at Rs 5000 and Rs 3000 respectively, but AMB from both the Metro City branch and Urban area branch starting October 1. Three rupees of the component will be present.