SBI slashes charges for non-maintenance of average minimum balance

SBI has reduced the penal charges for non- maintenance of AMB in the metros and urban centres from a maximum of Rs 50 per month

Country's largest lender, State Bank of India (SBI), has cut charges for non-maintenance of average minimum balance (AMB) for customers, following stakeholders' feedback.
 

The monthly charges, exclusive of the goods and services tax (GST), have been reduced to Rs 15 from Rs 50 in metro and urban centres and Rs 12 and Rs 10 from Rs 40 for semi-urban and rural centres. The revised charges will be effective from April 01, 2018. These charges will be applicable if a customer fails to maintain a minimum monthly balance specified by the bank.  
 

"We have reduced these charges taking into account the