New Delhi, Business Desk. The country’s largest bank State Bank of India (SBI) has given a lot of relief to its customers. The bank has informed the savings account holders through a tweet that it will not charge any fee from the customers for not maintaining minimum balance in the savings bank account. The bank has also informed to waive the SMS charge as well. The bank has said that all types of savings accounts are waived. This explanation given by the bank is very important because the bank offers free ATM transactions over a limit only to customers who have more than one lakh rupees in their account.
State Bank has tweeted and said, “Good news for SBI saving account holders!” Now you will not have to pay any fee for not maintaining the SMS service and monthly average balance.
Good news for SBI Savings Account holders! Now you don’t have to pay charges for SMS service and non-maintenance of monthly average balance.
In March this year, the State Bank of India announced that it would waive the fees charged for not maintaining a monthly balance for all saving bank accounts. Earlier, there was a need to maintain a monthly balance of Rs 3,000 for SBI customers in metro cities. Similarly, this limit is Rs 2,000 for semi-urban cities and Rs 1,000 for rural areas. The bank used to charge a fee of Rs 5 to Rs 15 for not maintaining an average monthly balance.
State Bank of India currently pays 2.7 percent interest on deposits in savings bank account.
On Wednesday, the State Bank’s share price on the NSE was up Rs 2.10, or 1.08 per cent, to Rs 197.20.
Source: www.jagran.com
