SBI lowers minimum balance limit in savings account to â¹3000
SBI has reduced the minimum Monthly Average Balance (MAB) on savings accounts for metros from â¹5,000 to â¹3,000, effective from October 1. Minimum balance requirement for urban, semi-urban, and rural centres stands unchanged at â¹3,000, â¹2,000 and â¹1,000, respectively. The bank also reduced charges for non-maintenance of MAB by 20-50% and removed charges for pensioners and minors' accounts.