SBI minimum balance: Rules, charges savings account holders should know this financial year

Customers of the State Bank of India (SBI), the country’s largest nationalised bank, are required to maintain an average monthly balance in their savings accounts. If one fails to keep that minimum balance, the bank charges an amount depending on branch location and the amount of shortfall.

As per the website of the bank,, the branches have been categorised into four types – metro, urban, semi-urban and rural. The bank levies charges ranging from Rs 5 to Rs 15 excluding the GST if any customer fails to maintain the average monthly balance.

For SBI branches in metro and urban areas, the average monthly balance is Rs 3,000 whereas customers are required to maintain Rs 2,000 and Rs 1,000 minimum balance in saving accounts at branches in semi urban and rural areas, respectively. The bank also charges the penalty based on the degree of shortfall.

Shortfall                     Penalty for non-maintenance of AMB in urban/metro SBI branches
<=50%                          Rs 10 + GST

>50%-75%                    Rs 12 + GST

>75%                            Rs 15 + GST

Shortfall               Penalty for non-maintenance of AMB in semi-urban SBI branches
<=50%                      Rs 7.50 + GST

>50%-75%                Rs 10.00 + GST

>75%                         Rs 12.00 + GST

Shortfall                Penalty for non-maintenance of AMB in rural SBI branches

<=50%                       Rs 5.00 + GST

>50%-75%                Rs 7.50 + GST

>75%                        Rs 10.00 + GST

Meanwhile, SBI also provides services for Jan Dhan accounts, basic savings account, salary package accounts and small bank accounts. As per the website of the lender, there is no need for someone to maintain average monthly balance in case the person holds such accounts.

Earlier, a PTI report had mentioned that the SBI collected a whopping Rs 1,771.67 crore from customers for non-maintenance of monthly average balance in savings accounts in eight months of 2017-18.