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Minimum balance is not to be kept in SBI's account

While some banks have fixed minimum balance limits on savings accounts, the country's largest public sector bank SBI has given the option of opening a new savings account. As part of which the account holders will get all such facilities, such as on other savings accounts. However, no minimum balance limit has been decided on this.
According to SBI, the condition of minimum balance on the Basic Savings Bank Deposit Account will not be applicable. However, their only condition is that the customer should not have any other savings account. But, if there is a savings or a basic savings account, then the customer will have to close it within four weeks.
The facility of debit card and net banking facility will also be available with this account. This account is also given the same annual interest, as is the case with other savings banks in State Bank of India.
However, the biggest feature of this account is that there is no need to keep any minimum or maximum balance for this. This account can be opened single or joint and it is possible to open this account in all branches of State Bank of India.


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