INSUBCONTINENT EXCLUSIVE:
SBI accounts are divided on the basis of locations into four categories of branches.State Bank of India (SBI) levies certain charges on
bank account is the average of daily balances in the account in a month, according to the website of the country's largest lender
required to maintain a monthly average balance of Rs 3,000.5
Rs 15 plus GST, according to the bank's website.Metro and urban branch (required MAB Rs 3,000)ChargesShortfall 50-75%Rs 12 + GSTShortfall >
75%Rs 15 + GST(As mentioned on sbi.co.in)6
Customers with accounts in semi-urban areas are required to maintain an average monthly balance of Rs 2,000.7
The bank charges a penalty amount ranging from Rs 7.5 plus GST to Rs 12 plus GST from customers failing to comply with the minimum balance
or MAB rules in its semi-urban branches.Semi-urban branch (required MAB Rs 2,000)ChargesShortfall 50-75%Rs 10 + GSTShortfall > 75%Rs 12 +
GST(As mentioned on sbi.co.in)8
Customers holding an account in the bank's rural branches are required to maintain a monthly average balance of Rs 1,000.9
SBI has set penalty charges to the tune of Rs 5-10 plus GST for non-compliance with the monthly average balance rules in rural
branches.Rural (required MAB Rs 1,000)ChargesShortfall 50-75%Rs 7.50 + GSTShortfall > 75%Rs 10 + GST(As mentioned on sbi.co.in)10
However, SBI also offers certain accounts in which the MAB rules are not applicable
In other words, these bank accounts can be operated with nil balance without any balance-related restrictions on the customer
