Search Employees News

Government Employee News - Rules, O.Ms & Orders

Govempnews.com is for Central Government Employees News, Orders, O.M. also latest updates on various rules, DoPT Orders, Finance Ministry Orders, MoD Orders, 7th Pay Commission News, Pay Matrix, Promotion, LTC, Allowances for Central Government Employees, Autonomous Bodies, Pensioners, Railway Employees, Defence Personnel

Proforma for re-imbursement of Children Education Allowance
View
Certificate from Head of Institution for CEA re-imbursement
View
Self Declaration for CEA re-imbursement
View
GPF Interest Rate w.e.f. 01.04.2018
View
CAT Ernakulum Bench Order regarding fixation of pay in the merged pay scale of 5000-8000 and 5500-9000 with 6500-10500 (5th CPC) in Pay Band-2 + Grade Pay 4200
View
Fixation of pay on promotion equivalent to the person who joined the post afresh
View

Friday, 21 April 2017

SBI will charge fee ranging 50 to 100 plus service tax in case on non-compliance with MAB requirements..

with 0 Comment
State Bank of India or has introduced minimum balance requirement in savings accounts from April 1. The minimum balance requirement for SBI customers varies depending on geographies such as metro, urban, semi-urban and rural. If the minimum balance drops below a particular threshold, SBI will charge a fee from the account holder. SBI says the minimum balance in your savings bank account is the monthly average balance - the average of daily balances in the account during the month. SBI requires its savings bank account customers in metros to maintain a monthly average balance of Rs. 5,000.


SBI Savings Account Minimum Balance Requirement 

SBI will charge a fee ranging from Rs. 50 to Rs. 100 plus service tax in case of non-compliance with minimum balance requirements. 

State Bank of India or has introduced minimum balance requirement in savings accounts from April 1. The minimum balance requirement for SBI customers varies depending on geographies such as metro, urban, semi-urban and rural. If the minimum balance drops below a particular threshold, SBI will charge a fee from the account holder. SBI says the minimum balance in your savings bank account is the monthly average balance - the average of daily balances in the account during the month. SBI requires its savings bank account customers in metros to maintain a monthly average balance of Rs. 5,000. 

Holders of SBI's savings bank account in urban areas need to maintain a monthly average balance (MAB) of Rs. 3,000, Rs. 2,000 in case of those in semi-urban areas and Rs. 1,000 in rural areas. This was said on Thursday by SBI - which recently merged its operations with six other banks - on Twitter.
Hitting 31 crore depositors, SBI will charge a fee ranging from Rs. 50 to Rs. 100 plus service tax in case of non-compliance with minimum balance requirements.

For metropolitan areas: 

Shortfall
SBI charges
Over 75%
Rs. 100 plus service tax
50-75%
Rs. 75 plus service tax
Under 50%
Rs. 50 plus service tax

For rural areas, the penalty for non-maintenance of minimum balance ranges from Rs. 20 to Rs. 50 plus service tax. 

Meanwhile, SBI offers other types of accounts where it customers are not required to maintain a minimum balance . Small savings bank account and basic savings account are two such products offered SBI.

State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, besides Bharatiya Mahila Bank (BMB), became part of SBI with effect from April 1. After the merger, SBI has entered the league of top 50 global banks with a balance sheet size of Rs. 41 lakh crore, 2.77 lakh employees, 50 crore customers, over 22,500 branches and 58,000 ATMs. 

Small savings bank account :  SBI's small savings bank account has a maximum balance limit of Rs. 50,000 

Basic savings bank account : SBI's basic savings account has no minimum balance or maximum balance limits. 

Related Post

0 comments:

Post a Comment