The maximum balance amount that can be maintained in small account is Rs.50,000.
State Bank of India (SBI) offers certain accounts which are primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.
Small account, one such product offered by SBI, can be opened by any individual who is above 18 years and do not have officially valid KYC (Know Your Customer) documents, said country's largest lender on its corporate website- sbi.co.in.
However, there are many restrictions in operation of small account due to the relaxed KYC, the lender added.