INSUBCONTINENT EXCLUSIVE:
SBI offers a range of zero balance savings accounts.State Bank of India (SBI) offers certain zero balance savings accounts, where average
monthly balance (AMB) rule is not applicable
Average Monthly Balance (AMB) is the minimum average of deposits required by the bank customers in their savings bank accounts
SBI's zero balance savings accounts does not require customers to maintain any particular minimum average balance, stated country's largest
lender on it's website- sbi.co.in
However, in other accounts, customers failing to meet the AMB requirements in a month have to bear certain penalty charges, noted SBI.Here
SBI offers a range of salary accounts, crafted to suit customer's needs
SBI's special salary account packages are available for varied sectors, such as central government, state government, defence forces,
paramilitary forces, police forces, corporates/ institutions etc
These comprehensive packages be opened with zero balance2
Basic Savings Bank Deposit (BSBD) account is also one of the zero balances saving account of SBI
It is primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees, said SBI.3
Accounts opened under Pradhan Mantri Jan-Dhan Yojana (PMJDY) are also opened with zero balance
PMJDY is a national mission for financial inclusion to ensure access to financial services, namely, banking/ savings and deposit accounts,
Pehla Kadam and Pehli Udaan savings accounts, are also opened with zero balance
These savings bank accounts are opened especially for children that not only help minor learn the importance of saving money but also allow
SBI has not stipulated any minimum balance that has to be kept in pension account maintained with the bank, stated the lender.
