The State Bank of India on Tuesday reduced its charges on non-maintenance of an average monthly balance (AMB) in savings accounts from April 1.
The charges for non-maintenance of AMB (Average Monthly Balance) for customers in metro and urban centres have been reduced from a maximum of ₹50 per month plus goods and services tax (GST), to ₹15 per month plus GST.
This will benefit 25 crore bank customers.
For semi-urban and rural centres, the charges have been reduced from ₹40 per month plus GST to ₹12 and ₹10 per month plus GST, respectively.
SBI also offers its customers to shift from a regular savings bank account to basic savings bank deposit account (BSBD) on which no charges are levied.