Bhubaneswar, March 22 -- Customers of State Bank of India (SBI) the country's largest bank are required to maintain an average monthly balance with their savings accounts. If a customer fails to meet the average monthly balance, he/she will have to cough up penalty charge. Therefore, a SBI customer must be aware of the new rules on average monthly balance criteria of the bank.
As per the information available on www.sbi.co.in, the bank has categorised its branches into four types based on their locations and accordingly, the penalty amount varies.
In Metro and Urban branches of the bank, customers are required to maintain the average monthly balance at Rs 3,000.
Metro and urban branch Penalty for non-maintenance of AMB Shortfall 50-75% ...