SBI Charges

SBI, the country’s largest bank has cut down the charges for not maintaining minimum balance in savings account by 75%. Urban & Metro branch customers who used to pay Rs. 50 + GST per month for not maintaining Average Monthly Balance (AWB) now needs to pay only Rs. 15 + GST per month. Similarly, Semi-urban and Rural branch customers need to pay only Rs 12 + GST/ month and Rs 10 + GST/ month respectively instead of Rs 40 + GST/month. These updated charges were effective since April 1, 2018.

Here is a detailed list of penalties charged by other leading banks in the country for Metro regions:

BANK Account Detail MAB/QAB (Rs) Penalty on non-maintenance of MAB/AQB
SBI SBI Savings Bank Account 3000 (MAB) Up to Rs. 15 / month
PNB Savings Account (General) 2000 (QAB) Up to Rs. 250
IDBI Super Savings Account 5000 (MAB) 4% per month on the differential

amount of MAB & Actual Avg Bal

maintained (Min Rs. 100)

ICICI Bank Regular Savings Account 10000 (MAB) Rs. 100 + 5% of the shortfall in required MAB
HDFC Bank Regular Savings Account 10000 (MAB) Up to Rs. 600
Corporation Bank CorpBank Savings Account 500 (QAB) Up to Rs. 100 per quarter
Canara Bank Savings Bank Account 1000 (MAB) Up to Rs. 40/ Month

Data Source: Google

MAB: Monthly Average Balance

QAB: Quarterly Average Balance

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